Shoe Carnival (NASDAQ:SCVL) Hits New 52-Week Low – Time to Sell?

Shoe Carnival, Inc. (NASDAQ:SCVL)’s stock price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $20.51 and last traded at $21.24, with a volume of 654021 shares changing hands. The stock had previously closed at $21.38.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Shoe Carnival from a “sell” rating to a “hold” rating in a report on Saturday, November 30th.

Shoe Carnival Stock Down 0.7 %

The firm has a 50 day moving average price of $28.06 and a 200 day moving average price of $34.74. The stock has a market cap of $577.20 million, a P/E ratio of 7.81 and a beta of 1.50.

Shoe Carnival Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 27th. Stockholders of record on Monday, January 13th were paid a $0.135 dividend. This represents a $0.54 annualized dividend and a dividend yield of 2.54%. The ex-dividend date of this dividend was Monday, January 13th. Shoe Carnival’s dividend payout ratio (DPR) is currently 19.85%.

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

Insider Buying and Selling

In other news, Chairman Wayne J. Weaver acquired 285,500 shares of the firm’s stock in a transaction dated Friday, December 6th. The shares were acquired at an average cost of $33.91 per share, with a total value of $9,681,305.00. Following the acquisition, the chairman now directly owns 4,173,529 shares of the company’s stock, valued at approximately $141,524,368.39. The trade was a 7.34 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 34.70% of the stock is currently owned by company insiders.

Institutional Trading of Shoe Carnival

Several hedge funds and other institutional investors have recently bought and sold shares of SCVL. Barclays PLC grew its holdings in Shoe Carnival by 189.7% during the 3rd quarter. Barclays PLC now owns 30,342 shares of the company’s stock valued at $1,330,000 after purchasing an additional 19,868 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Shoe Carnival by 138.3% in the third quarter. Victory Capital Management Inc. now owns 59,239 shares of the company’s stock worth $2,598,000 after buying an additional 34,382 shares during the period. State Street Corp lifted its stake in shares of Shoe Carnival by 2.2% during the 3rd quarter. State Street Corp now owns 793,318 shares of the company’s stock worth $34,787,000 after acquiring an additional 17,086 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Shoe Carnival by 16.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 50,069 shares of the company’s stock valued at $2,196,000 after acquiring an additional 6,946 shares during the period. Finally, 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 valued at $19,236,000 after acquiring an additional 96,753 shares during the last quarter. Hedge funds and other institutional investors own 66.05% of the company’s stock.

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.