Shoe Carnival (NASDAQ:SCVL) Sets New 52-Week Low – Should You Sell?

Shoe Carnival, Inc. (NASDAQ:SCVL) reached a new 52-week low on Thursday . The stock traded as low as $21.73 and last traded at $21.79, with a volume of 22122 shares. The stock had previously closed at $22.47.

Analysts Set New Price Targets

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

Shoe Carnival Stock Up 1.4 %

The firm has a 50 day simple moving average of $28.57 and a two-hundred day simple moving average of $35.11. The stock has a market capitalization of $601.65 million, a P/E ratio of 8.14 and a beta of 1.50.

Shoe Carnival Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date of this dividend was Monday, January 13th. Shoe Carnival’s payout ratio is 19.85%.

Shoe Carnival declared that its Board of Directors has approved a share buyback plan on Thursday, December 12th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the company to purchase up to 5.2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Insider Activity

In other news, Chairman Wayne J. Weaver purchased 285,500 shares of the company’s stock in a transaction dated Friday, December 6th. The stock was bought at an average cost of $33.91 per share, for a total transaction of $9,681,305.00. Following the purchase, the chairman now 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 34.70% of the stock is owned by corporate insiders.

Institutional Trading of Shoe Carnival

Large investors have recently bought and sold shares of the business. 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 worth $1,330,000 after acquiring an additional 19,868 shares during the period. Victory Capital Management Inc. grew its holdings in Shoe Carnival by 138.3% during the 3rd quarter. Victory Capital Management Inc. now owns 59,239 shares of the company’s stock worth $2,598,000 after acquiring an additional 34,382 shares during the period. State Street Corp grew its holdings in 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 period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew 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 worth $2,196,000 after acquiring an additional 6,946 shares during the period. Finally, Hodges Capital Management Inc. grew its holdings in Shoe Carnival by 20.0% during the 4th quarter. Hodges Capital Management Inc. now owns 581,508 shares of the company’s stock worth $19,236,000 after acquiring an additional 96,753 shares during the period. 66.05% of the stock is currently owned by institutional investors and hedge funds.

Shoe Carnival Company Profile

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.