Quantbot Technologies LP Has $1.02 Million Position in Shoe Carnival, Inc. $SCVL

Quantbot Technologies LP lessened its position in shares of Shoe Carnival, Inc. (NASDAQ:SCVL) by 50.4% in the third quarter, HoldingsChannel.com reports. The fund owned 49,083 shares of the company’s stock after selling 49,926 shares during the period. Quantbot Technologies LP’s holdings in Shoe Carnival were worth $1,020,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in SCVL. First Horizon Advisors Inc. increased its stake in Shoe Carnival by 33.8% in the second quarter. First Horizon Advisors Inc. now owns 1,923 shares of the company’s stock valued at $36,000 after acquiring an additional 486 shares during the last quarter. Hantz Financial Services Inc. boosted its holdings in shares of Shoe Carnival by 305.0% in the 3rd quarter. Hantz Financial Services Inc. now owns 2,029 shares of the company’s stock valued at $42,000 after purchasing an additional 1,528 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Shoe Carnival in the 2nd quarter valued at $146,000. GAMMA Investing LLC increased its stake in shares of Shoe Carnival by 23.6% in the 3rd quarter. GAMMA Investing LLC now owns 8,143 shares of the company’s stock valued at $169,000 after purchasing an additional 1,553 shares during the last quarter. Finally, Rafferty Asset Management LLC acquired a new position in shares of Shoe Carnival during the 2nd quarter worth $188,000. Institutional investors and hedge funds own 66.05% of the company’s stock.

Shoe Carnival Stock Down 2.5%

NASDAQ SCVL opened at $19.37 on Friday. The company has a market cap of $530.35 million, a price-to-earnings ratio of 9.22 and a beta of 1.34. Shoe Carnival, Inc. has a twelve month low of $15.21 and a twelve month high of $26.57. The business’s fifty day moving average is $19.39 and its 200 day moving average is $19.58.

Shoe Carnival announced that its board has authorized a share buyback program on Friday, December 12th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 9.9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Shoe Carnival Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 26th. Stockholders of record on Monday, January 12th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Monday, January 12th. Shoe Carnival’s payout ratio is 28.57%.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Williams Trading set a $22.00 price objective on Shoe Carnival in a research report on Thursday, February 26th. Zacks Research downgraded Shoe Carnival from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 25th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Shoe Carnival in a report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $22.00.

Shoe Carnival Profile

Shoe Carnival, Inc (NASDAQ: SCVL) is a U.S.-based specialty retailer offering a broad assortment of footwear, apparel and accessories for the entire family. Through its network of brick-and-mortar stores and e-commerce platform, the company provides casual, athletic and dress shoes for men, women and children, as well as complementary apparel, handbags, socks and other accessories designed to deliver value and variety. Its distinctive in-store carnival host service model aims to create an engaging shopping experience and foster customer loyalty.

Founded in 1978 and headquartered in Evansville, Indiana, Shoe Carnival has expanded over four decades to operate more than 350 retail locations across over 30 states.