Teacher Retirement System of Texas Decreases Stock Holdings in Shoe Carnival, Inc. (NASDAQ:SCVL)

Teacher Retirement System of Texas lowered its holdings in Shoe Carnival, Inc. (NASDAQ:SCVL) by 26.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,074 shares of the company’s stock after selling 9,546 shares during the period. Teacher Retirement System of Texas owned about 0.10% of Shoe Carnival worth $896,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Quarry LP purchased a new position in shares of Shoe Carnival in the 3rd quarter worth about $66,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Shoe Carnival in the third quarter valued at about $76,000. SG Americas Securities LLC bought a new position in shares of Shoe Carnival during the 4th quarter valued at approximately $178,000. FMR LLC increased 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 purchasing an additional 343 shares during the last quarter. Finally, Paloma Partners Management Co bought a new stake in shares of Shoe Carnival in the 3rd quarter worth approximately $228,000. Institutional investors own 66.05% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Shoe Carnival Stock Down 0.7 %

Shares of NASDAQ:SCVL opened at $22.00 on Friday. The firm has a market capitalization of $597.85 million, a PE ratio of 8.09 and a beta of 1.50. The company has a 50-day moving average price of $24.24 and a two-hundred day moving average price of $32.21. Shoe Carnival, Inc. has a twelve month low of $20.51 and a twelve month high of $46.92.

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

Shoe Carnival announced that its Board of Directors has authorized a stock buyback plan on Thursday, December 12th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 5.2% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

Shoe Carnival Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, April 7th will be issued a dividend of $0.15 per share. This is a boost from Shoe Carnival’s previous quarterly dividend of $0.14. The ex-dividend date is Monday, April 7th. This represents a $0.60 dividend on an annualized basis and a yield of 2.73%. Shoe Carnival’s dividend payout ratio is 22.39%.

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.