KLP Kapitalforvaltning AS Makes New Investment in Shoe Carnival, Inc. (NASDAQ:SCVL)

KLP Kapitalforvaltning AS purchased a new stake in shares of Shoe Carnival, Inc. (NASDAQ:SCVL) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 3,000 shares of the company’s stock, valued at approximately $99,000.

Several other institutional investors also recently modified their holdings of the business. Copeland Capital Management LLC lifted its stake in Shoe Carnival by 2.5% during the 4th quarter. Copeland Capital Management LLC now owns 1,204,443 shares of the company’s stock valued at $39,843,000 after acquiring an additional 29,280 shares during the period. State Street Corp lifted its position in Shoe Carnival by 2.2% during the third quarter. State Street Corp now owns 793,318 shares of the company’s stock valued at $34,787,000 after purchasing an additional 17,086 shares during the period. Hodges Capital Management Inc. grew its position in Shoe Carnival by 20.0% in the 4th quarter. Hodges Capital Management Inc. now owns 581,508 shares of the company’s stock worth $19,236,000 after purchasing an additional 96,753 shares during the period. American Century Companies Inc. raised its stake in Shoe Carnival by 7.4% during the 4th quarter. American Century Companies Inc. now owns 547,366 shares of the company’s stock valued at $18,107,000 after buying an additional 37,569 shares during the last quarter. Finally, Royce & Associates LP lifted its holdings in shares of Shoe Carnival by 13.8% during the 4th quarter. Royce & Associates LP now owns 528,092 shares of the company’s stock valued at $17,469,000 after buying an additional 64,239 shares during the period. 66.05% of the stock is owned by hedge funds and other institutional investors.

Shoe Carnival Price Performance

Shares of SCVL opened at $19.38 on Friday. The firm has a market capitalization of $526.65 million, a P/E ratio of 7.13 and a beta of 1.35. Shoe Carnival, Inc. has a one year low of $18.07 and a one year high of $46.92. The business has a fifty day moving average of $22.49 and a 200 day moving average of $30.56.

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

Shoe Carnival announced that its board has approved a stock repurchase program on Thursday, December 12th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 5.2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Shoe Carnival Increases Dividend

The firm 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 $0.15 dividend. The ex-dividend date of this dividend is Monday, April 7th. This is an increase from Shoe Carnival’s previous quarterly dividend of $0.14. This represents a $0.60 annualized dividend and a yield of 3.10%. Shoe Carnival’s dividend payout ratio (DPR) is presently 22.39%.

About Shoe Carnival

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.