Royce & Associates LP Has $17.47 Million Stake in Shoe Carnival, Inc. (NASDAQ:SCVL)

Royce & Associates LP raised its position in Shoe Carnival, Inc. (NASDAQ:SCVL) by 13.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 528,092 shares of the company’s stock after acquiring an additional 64,239 shares during the quarter. Royce & Associates LP owned approximately 1.94% of Shoe Carnival worth $17,469,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of SCVL. Aigen Investment Management LP acquired a new stake in Shoe Carnival in the 3rd quarter valued at about $237,000. Victory Capital Management Inc. lifted its position in shares of Shoe Carnival by 138.3% in the third quarter. Victory Capital Management Inc. now owns 59,239 shares of the company’s stock valued at $2,598,000 after buying an additional 34,382 shares during the last quarter. Empowered Funds LLC boosted its stake in shares of Shoe Carnival by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 129,459 shares of the company’s stock worth $5,677,000 after acquiring an additional 6,566 shares during the period. Quest Partners LLC acquired a new position in shares of Shoe Carnival during the 3rd quarter worth approximately $606,000. Finally, Foundry Partners LLC raised its stake in Shoe Carnival by 0.6% in the 3rd quarter. Foundry Partners LLC now owns 149,735 shares of the company’s stock valued at $6,566,000 after acquiring an additional 940 shares during the period. Institutional investors own 66.05% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Shoe Carnival Trading Up 1.7 %

Shoe Carnival stock opened at $21.85 on Monday. The company has a market capitalization of $593.77 million, a price-to-earnings ratio of 8.03 and a beta of 1.50. The stock’s 50 day moving average is $25.90 and its 200-day moving average is $33.41. Shoe Carnival, Inc. has a 12 month low of $20.51 and a 12 month high of $46.92.

Shoe Carnival announced that its board has initiated a share buyback plan on Thursday, December 12th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the company to buy up to 5.2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Shoe Carnival 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.