Shoe Carnival, Inc. (NASDAQ:SCVL) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System cut its stake in Shoe Carnival, Inc. (NASDAQ:SCVL) by 3.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,649 shares of the company’s stock after selling 896 shares during the quarter. New York State Teachers Retirement System owned about 0.08% of Shoe Carnival worth $749,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of SCVL. Pinnacle Associates Ltd. increased its stake in shares of Shoe Carnival by 69.2% in the 3rd quarter. Pinnacle Associates Ltd. now owns 46,540 shares of the company’s stock worth $2,041,000 after acquiring an additional 19,030 shares during the last quarter. Aigen Investment Management LP acquired a new stake in shares of Shoe Carnival in the 3rd quarter worth $237,000. Victory Capital Management Inc. increased its stake in shares of Shoe Carnival by 138.3% in 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 during the last quarter. Empowered Funds LLC increased its position 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 purchasing an additional 6,566 shares during the last quarter. Finally, Quest Partners LLC acquired a new stake in shares of Shoe Carnival during the 3rd quarter worth about $606,000. 66.05% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Chairman Wayne J. Weaver acquired 285,500 shares of the firm’s stock in a transaction dated Friday, December 6th. The stock was acquired at an average cost of $33.91 per share, with a total value of $9,681,305.00. Following the completion of 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 ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 34.70% of the company’s stock.

Shoe Carnival Stock Down 2.7 %

SCVL stock opened at $22.01 on Monday. The business has a 50 day moving average price of $29.58 and a 200 day moving average price of $35.53. The stock has a market cap of $598.01 million, a price-to-earnings ratio of 8.09 and a beta of 1.50. Shoe Carnival, Inc. has a fifty-two week low of $21.75 and a fifty-two week high of $46.92.

Shoe Carnival (NASDAQ:SCVL) last announced its quarterly 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 firm had revenue of $306.90 million during the quarter, compared to the consensus estimate of $316.97 million. Shoe Carnival had a return on equity of 12.52% and a net margin of 6.12%. The firm’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.80 earnings per share. As a group, sell-side analysts anticipate that Shoe Carnival, Inc. will post 2.6 EPS for the current year.

Shoe Carnival announced that its board has authorized 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 purchase up to 5.2% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Shoe Carnival Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 27th. Stockholders of record on Monday, January 13th were issued a $0.135 dividend. This represents a $0.54 annualized dividend and a dividend yield of 2.45%. The ex-dividend date of this dividend was Monday, January 13th. Shoe Carnival’s payout ratio is currently 19.85%.

Wall Street Analysts Forecast Growth

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

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.