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

Shares of Shoe Carnival, Inc. (NASDAQ:SCVL) reached a new 52-week low during trading 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.

Analyst Ratings Changes

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

Shoe Carnival Trading Down 2.8 %

The firm has a market capitalization of $593.31 million, a P/E ratio of 8.03 and a beta of 1.50. The stock has a 50-day simple moving average of $28.82 and a two-hundred day simple moving average of $35.21.

Shoe Carnival Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 27th. Investors of record on Monday, January 13th were issued a $0.135 dividend. The ex-dividend date was Monday, January 13th. This represents a $0.54 annualized dividend and a dividend yield of 2.47%. Shoe Carnival’s payout ratio is currently 19.85%.

Shoe Carnival declared that its Board of Directors has initiated a stock buyback program on Thursday, December 12th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 5.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Shoe Carnival

In related news, Chairman Wayne J. Weaver purchased 285,500 shares of the business’s stock in a transaction dated Friday, December 6th. The shares were acquired at an average cost of $33.91 per share, for a total transaction of $9,681,305.00. Following the acquisition, the chairman now owns 4,173,529 shares of the company’s stock, valued at $141,524,368.39. The trade was a 7.34 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 34.70% of the company’s stock.

Institutional Investors Weigh In On Shoe Carnival

A number of institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC lifted its position in shares of Shoe Carnival by 189.7% during the third quarter. Barclays PLC now owns 30,342 shares of the company’s stock valued at $1,330,000 after buying an additional 19,868 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of 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 in the last quarter. 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 acquiring an additional 17,086 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Shoe Carnival by 16.1% in the third 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 in the last quarter. Finally, Hodges Capital Management Inc. grew its holdings in Shoe Carnival by 20.0% in the fourth 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 last quarter. Institutional investors own 66.05% of the company’s stock.

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.