Semanteon Capital Management LP Buys Shares of 40,556 Shoe Carnival, Inc. (NASDAQ:SCVL)

Semanteon Capital Management LP bought a new stake in Shoe Carnival, Inc. (NASDAQ:SCVL) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm bought 40,556 shares of the company’s stock, valued at approximately $1,342,000. Semanteon Capital Management LP owned 0.15% of Shoe Carnival as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of SCVL. Victory Capital Management Inc. grew its holdings 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 valued at $2,598,000 after purchasing an additional 34,382 shares during the last quarter. Quest Partners LLC bought a new stake in shares of Shoe Carnival during the 3rd quarter valued at approximately $606,000. Foundry Partners LLC grew its holdings in shares of Shoe Carnival by 0.6% during the 3rd quarter. Foundry Partners LLC now owns 149,735 shares of the company’s stock valued at $6,566,000 after purchasing an additional 940 shares during the last quarter. Pacer Advisors Inc. bought a new stake in shares of Shoe Carnival during the 3rd quarter valued at approximately $37,440,000. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of Shoe Carnival during the 3rd quarter valued at approximately $62,000. 66.05% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Shoe Carnival Stock Performance

Shares of NASDAQ SCVL opened at $22.44 on Friday. The company has a market capitalization of $609.81 million, a P/E ratio of 8.25 and a beta of 1.51. Shoe Carnival, Inc. has a 52-week low of $20.51 and a 52-week high of $46.92. The company’s 50 day moving average price is $25.25 and its 200-day moving average price is $33.01.

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

Shoe Carnival Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, April 7th will be issued a $0.15 dividend. The ex-dividend date is Monday, April 7th. This represents a $0.60 annualized dividend and a dividend yield of 2.67%. This is an increase from Shoe Carnival’s previous quarterly dividend of $0.14. Shoe Carnival’s dividend payout ratio is currently 19.85%.

Shoe Carnival announced that its Board of Directors has approved a stock buyback 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 stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors 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.