Brandywine Global Investment Management LLC Makes New $2.75 Million Investment in Shoe Carnival, Inc. (NASDAQ:SCVL)

Brandywine Global Investment Management LLC purchased a new stake in Shoe Carnival, Inc. (NASDAQ:SCVL) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 83,160 shares of the company’s stock, valued at approximately $2,751,000. Brandywine Global Investment Management LLC owned approximately 0.31% of Shoe Carnival as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Quarry LP purchased a new position in Shoe Carnival in the third quarter valued at about $66,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Shoe Carnival during the third quarter worth $76,000. KLP Kapitalforvaltning AS purchased a new stake in Shoe Carnival during the fourth quarter worth $99,000. FMR LLC grew its holdings in Shoe Carnival by 8.7% in the third quarter. FMR LLC now owns 4,266 shares of the company’s stock valued at $187,000 after purchasing an additional 343 shares during the last quarter. Finally, Paloma Partners Management Co purchased a new position in shares of Shoe Carnival in the third quarter valued at $228,000. Institutional investors and hedge funds own 66.05% of the company’s stock.

Shoe Carnival Stock Up 3.0 %

NASDAQ:SCVL opened at $23.00 on Thursday. The company has a market capitalization of $625.03 million, a PE ratio of 8.46 and a beta of 1.35. Shoe Carnival, Inc. has a 52-week low of $20.51 and a 52-week high of $46.92. The stock has a fifty day simple moving average of $23.78 and a 200-day simple moving average of $31.85.

Shoe Carnival (NASDAQ:SCVL) last released its quarterly earnings results on Thursday, March 20th. The company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.42 by $0.12. Shoe Carnival had a net margin of 6.12% and a return on equity of 12.52%. The business had revenue of $262.90 million for the quarter, compared to analyst estimates of $277.89 million. During the same period in the prior year, the business earned $0.59 earnings per share. The company’s quarterly revenue was down 6.2% on a year-over-year basis. As a group, equities analysts anticipate that Shoe Carnival, Inc. will post 2.6 earnings per share for the current year.

Shoe Carnival Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, April 7th will be given a $0.15 dividend. This is an increase from Shoe Carnival’s previous quarterly dividend of $0.14. This represents a $0.60 annualized dividend and a dividend yield of 2.61%. The ex-dividend date is Monday, April 7th. Shoe Carnival’s dividend payout ratio is currently 22.39%.

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

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.