Arrowstreet Capital Limited Partnership Buys 59,603 Shares of Shoe Carnival, Inc. (NASDAQ:SCVL)

Arrowstreet Capital Limited Partnership increased its stake in Shoe Carnival, Inc. (NASDAQ:SCVL) by 17.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 409,320 shares of the company’s stock after buying an additional 59,603 shares during the period. Arrowstreet Capital Limited Partnership owned 1.51% of Shoe Carnival worth $13,540,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Quarry LP purchased a new position in shares of Shoe Carnival during the third quarter worth approximately $66,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Shoe Carnival during the 3rd quarter worth $76,000. KLP Kapitalforvaltning AS bought a new stake in Shoe Carnival during the 4th quarter valued at $99,000. SG Americas Securities LLC purchased a new stake in shares of Shoe Carnival in the 4th quarter worth $178,000. Finally, FMR LLC grew its position in shares of Shoe Carnival by 8.7% during the 3rd quarter. FMR LLC now owns 4,266 shares of the company’s stock worth $187,000 after buying an additional 343 shares in the last quarter. Institutional investors own 66.05% of the company’s stock.

Shoe Carnival Price Performance

SCVL stock opened at $19.92 on Friday. Shoe Carnival, Inc. has a 1-year low of $18.07 and a 1-year high of $46.92. The business has a 50-day moving average price of $23.38 and a 200 day moving average price of $31.61. The company has a market capitalization of $541.33 million, a P/E ratio of 7.32 and a beta of 1.35.

Shoe Carnival (NASDAQ:SCVL) last posted its quarterly earnings results on Thursday, March 20th. The company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.42 by $0.12. The business had revenue of $262.90 million during the quarter, compared to analyst estimates of $277.89 million. Shoe Carnival had a net margin of 6.12% and a return on equity of 12.52%. The company’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.59 EPS. On average, analysts anticipate that Shoe Carnival, Inc. will post 2.6 earnings per share for the current fiscal year.

Shoe Carnival Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 7th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 3.01%. This is a positive change from Shoe Carnival’s previous quarterly dividend of $0.14. The ex-dividend date is Monday, April 7th. Shoe Carnival’s dividend payout ratio is presently 22.39%.

Shoe Carnival declared that its Board of Directors has initiated a share repurchase program on Thursday, December 12th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 5.2% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Shoe Carnival Profile

Shoe Carnival, Inc, together with its subsidiaries, operates as a family footwear retailer in the United States. The company offers range of dress, casual, work, and athletic shoes, as well as sandals and boots for men, women, and children; and various accessories. The company also operates stores, and sells its products through online shopping at shoecarnival.com, as well as through mobile app.