Shoe Carnival, Inc. (NASDAQ:SCVL) Stake Reduced by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp cut its holdings in Shoe Carnival, Inc. (NASDAQ:SCVL) by 10.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,102 shares of the company’s stock after selling 1,570 shares during the quarter. Texas Permanent School Fund Corp owned about 0.05% of Shoe Carnival worth $520,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Innealta Capital LLC acquired a new stake in Shoe Carnival during the 2nd quarter worth about $41,000. Maryland State Retirement & Pension System acquired a new stake in Shoe Carnival during the 1st quarter worth about $240,000. Summit Global Investments acquired a new stake in Shoe Carnival during the 2nd quarter worth about $244,000. EMC Capital Management raised its holdings in Shoe Carnival by 11.9% during the 1st quarter. EMC Capital Management now owns 7,468 shares of the company’s stock worth $274,000 after buying an additional 793 shares during the period. Finally, BOKF NA acquired a new stake in Shoe Carnival during the 1st quarter worth about $308,000. 66.05% of the stock is currently owned by institutional investors.

Shoe Carnival Price Performance

NASDAQ SCVL opened at $45.41 on Friday. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of 16.76 and a beta of 1.53. The company has a 50 day simple moving average of $41.13 and a 200-day simple moving average of $37.33. Shoe Carnival, Inc. has a 52-week low of $21.18 and a 52-week high of $46.92.

Shoe Carnival (NASDAQ:SCVL) last released its earnings results on Thursday, September 5th. The company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.03. Shoe Carnival had a net margin of 6.26% and a return on equity of 13.26%. The company had revenue of $332.70 million during the quarter, compared to the consensus estimate of $331.45 million. During the same quarter in the prior year, the firm earned $0.71 EPS. The company’s revenue was up 12.9% compared to the same quarter last year. On average, analysts predict that Shoe Carnival, Inc. will post 2.65 EPS for the current year.

Shoe Carnival Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, October 21st. Stockholders of record on Monday, October 7th will be issued a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a dividend yield of 1.19%. The ex-dividend date is Monday, October 7th. Shoe Carnival’s dividend payout ratio is currently 19.93%.

Wall Street Analysts Forecast Growth

Separately, Williams Trading boosted their price objective on Shoe Carnival from $42.00 to $51.00 and gave the stock a “buy” rating in a report on Thursday, August 29th.

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.