CSM Advisors LLC Grows Position in Shoe Carnival, Inc. $SCVL

CSM Advisors LLC raised its stake in Shoe Carnival, Inc. (NASDAQ:SCVL) by 120.1% in the third quarter, HoldingsChannel.com reports. The fund owned 108,555 shares of the company’s stock after purchasing an additional 59,245 shares during the quarter. CSM Advisors LLC’s holdings in Shoe Carnival were worth $2,258,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Creative Planning boosted its stake in shares of Shoe Carnival by 51.0% during the third quarter. Creative Planning now owns 34,034 shares of the company’s stock valued at $708,000 after acquiring an additional 11,492 shares during the last quarter. Man Group plc acquired a new position in Shoe Carnival in the 3rd quarter valued at about $467,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Shoe Carnival by 66.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,005 shares of the company’s stock valued at $146,000 after purchasing an additional 2,809 shares in the last quarter. Sei Investments Co. boosted its stake in shares of Shoe Carnival by 13.7% during the 3rd quarter. Sei Investments Co. now owns 98,149 shares of the company’s stock worth $2,041,000 after purchasing an additional 11,792 shares during the last quarter. Finally, UBS Group AG boosted its stake in shares of Shoe Carnival by 5.2% during the 3rd quarter. UBS Group AG now owns 256,478 shares of the company’s stock worth $5,332,000 after purchasing an additional 12,709 shares during the last quarter. 66.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SCVL. Williams Trading set a $22.00 price objective on shares of Shoe Carnival in a research report on Thursday, February 26th. Zacks Research lowered shares of Shoe Carnival from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 25th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Shoe Carnival in a research note 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 stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $22.00.

Shoe Carnival Trading Down 3.2%

NASDAQ SCVL opened at $17.61 on Tuesday. The business’s 50-day moving average price is $19.52 and its 200 day moving average price is $19.43. Shoe Carnival, Inc. has a twelve month low of $15.21 and a twelve month high of $26.57. The company has a market capitalization of $482.16 million, a PE ratio of 8.39 and a beta of 1.34.

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

Shoe Carnival Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 20th. Stockholders of record on Monday, April 6th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Monday, April 6th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.9%. This is an increase from Shoe Carnival’s previous quarterly dividend of $0.15. Shoe Carnival’s dividend payout ratio is currently 28.57%.

About Shoe Carnival

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.