Copeland Capital Management LLC Has $39.84 Million Stock Holdings in Shoe Carnival, Inc. (NASDAQ:SCVL)

Copeland Capital Management LLC lifted its holdings in shares of Shoe Carnival, Inc. (NASDAQ:SCVL) by 2.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,204,443 shares of the company’s stock after buying an additional 29,280 shares during the period. Copeland Capital Management LLC’s holdings in Shoe Carnival were worth $39,843,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Harvest Fund Management Co. Ltd acquired a new position in shares of Shoe Carnival during the 3rd quarter worth about $62,000. Quarry LP acquired a new position in shares of Shoe Carnival during the 3rd quarter worth about $66,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Shoe Carnival during the 3rd quarter worth about $76,000. FMR LLC boosted its stake in shares of Shoe Carnival by 8.7% during the 3rd quarter. FMR LLC now owns 4,266 shares of the company’s stock worth $187,000 after buying an additional 343 shares during the last quarter. Finally, Everence Capital Management Inc. acquired a new position in shares of Shoe Carnival during the 3rd quarter worth about $224,000. 66.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Shoe Carnival Stock Performance

Shares of SCVL stock opened at $27.06 on Friday. The firm’s 50-day moving average is $32.45 and its 200-day moving average is $37.18. The stock has a market cap of $735.22 million, a price-to-earnings ratio of 9.95 and a beta of 1.52. Shoe Carnival, Inc. has a 52-week low of $25.38 and a 52-week high of $46.92.

Shoe Carnival (NASDAQ:SCVL) last issued its earnings results on Thursday, November 21st. The company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.01. The company had revenue of $306.90 million for the quarter, compared to analysts’ expectations of $316.97 million. Shoe Carnival had a net margin of 6.12% and a return on equity of 12.52%. Shoe Carnival’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.80 EPS. Sell-side analysts predict that Shoe Carnival, Inc. will post 2.6 EPS for the current fiscal year.

Shoe Carnival Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 27th. Shareholders of record on Monday, January 13th were issued a $0.135 dividend. The ex-dividend date of this dividend was Monday, January 13th. This represents a $0.54 annualized dividend and a yield of 2.00%. Shoe Carnival’s dividend payout ratio is currently 19.85%.

Shoe Carnival declared that its board has authorized a stock buyback plan on Thursday, December 12th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 5.2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership 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 stock in a transaction on Friday, December 6th. The shares were purchased 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 in the company, valued at $141,524,368.39. The trade was a 7.34 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 34.70% 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.