Wedge Capital Management L L P NC Has $1.80 Million Position in Shoe Carnival, Inc. (SCVL)

Wedge Capital Management L L P NC decreased its position in shares of Shoe Carnival, Inc. (NASDAQ:SCVL) by 24.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 67,200 shares of the company’s stock after selling 21,700 shares during the period. Wedge Capital Management L L P NC’s holdings in Shoe Carnival were worth $1,798,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Texas Permanent School Fund purchased a new position in shares of Shoe Carnival during the 4th quarter valued at $206,000. Tower Research Capital LLC TRC purchased a new position in shares of Shoe Carnival during the 2nd quarter valued at $175,000. Crossmark Global Holdings Inc. purchased a new position in shares of Shoe Carnival during the 3rd quarter valued at $222,000. Cubist Systematic Strategies LLC purchased a new position in shares of Shoe Carnival during the 3rd quarter valued at $224,000. Finally, Nine Chapters Capital Management LLC purchased a new position in shares of Shoe Carnival during the 3rd quarter valued at $242,000. Institutional investors own 67.39% of the company’s stock.

Shares of Shoe Carnival, Inc. (SCVL) opened at $22.60 on Wednesday. The company has a market cap of $369.38, a price-to-earnings ratio of 15.03, a price-to-earnings-growth ratio of 0.99 and a beta of 0.91. Shoe Carnival, Inc. has a one year low of $15.07 and a one year high of $28.38.

Shoe Carnival (NASDAQ:SCVL) last announced its quarterly earnings results on Thursday, November 16th. The company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.58 by $0.08. The business had revenue of $287.47 million for the quarter, compared to analysts’ expectations of $286.90 million. Shoe Carnival had a net margin of 2.17% and a return on equity of 7.81%. analysts expect that Shoe Carnival, Inc. will post 1.48 earnings per share for the current year.

Shoe Carnival announced that its board has authorized a share repurchase program on Tuesday, December 19th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

The business also recently declared a quarterly dividend, which was paid on Monday, January 22nd. Shareholders of record on Monday, January 8th were paid a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 1.33%. The ex-dividend date was Friday, January 5th. Shoe Carnival’s payout ratio is currently 22.56%.

SCVL has been the topic of a number of analyst reports. TheStreet upgraded shares of Shoe Carnival from a “c” rating to a “b-” rating in a research note on Friday, November 17th. Susquehanna Bancshares reiterated a “buy” rating and issued a $28.00 price target on shares of Shoe Carnival in a research note on Friday, November 17th. Wedbush reiterated a “buy” rating and issued a $33.00 price target (up previously from $27.00) on shares of Shoe Carnival in a research note on Tuesday, December 19th. BidaskClub upgraded shares of Shoe Carnival from a “sell” rating to a “hold” rating in a research note on Thursday, December 21st. Finally, Pivotal Research initiated coverage on shares of Shoe Carnival in a research note on Tuesday, November 21st. They issued a “hold” rating and a $28.00 price target on the stock. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $25.86.

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About Shoe Carnival

Shoe Carnival, Inc is a family footwear retailer. The Company’s primary activity is the sale of footwear and related products through its retail stores in approximately 30 states within the continental United States and in Puerto Rico. It also offers online shopping on its e-commerce site at www.shoecarnival.com.

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Institutional Ownership by Quarter for Shoe Carnival (NASDAQ:SCVL)

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