New York State Common Retirement Fund Purchases 11,800 Shares of Shoe Carnival, Inc. (NASDAQ:SCVL)

New York State Common Retirement Fund raised its holdings in Shoe Carnival, Inc. (NASDAQ:SCVL) by 51.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,622 shares of the company’s stock after buying an additional 11,800 shares during the quarter. New York State Common Retirement Fund owned 0.13% of Shoe Carnival worth $1,145,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in SCVL. Harvest Fund Management Co. Ltd acquired a new stake in shares of Shoe Carnival during the 3rd quarter valued at about $62,000. Quarry LP acquired a new position in Shoe Carnival in the third quarter valued at about $66,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Shoe Carnival in the third quarter valued at about $76,000. SG Americas Securities LLC bought a new stake in Shoe Carnival during the fourth quarter worth about $178,000. Finally, FMR LLC raised its position in Shoe Carnival by 8.7% in the 3rd quarter. FMR LLC now owns 4,266 shares of the company’s stock valued at $187,000 after purchasing an additional 343 shares during the last quarter. Institutional investors and hedge funds own 66.05% of the company’s stock.

Shoe Carnival Trading Down 3.4 %

NASDAQ:SCVL opened at $21.38 on Tuesday. The stock has a 50-day moving average price of $28.32 and a two-hundred day moving average price of $34.89. Shoe Carnival, Inc. has a 1 year low of $21.27 and a 1 year high of $46.92. The stock has a market cap of $581.00 million, a price-to-earnings ratio of 7.86 and a beta of 1.50.

Shoe Carnival Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 27th. Stockholders of record on Monday, January 13th were given a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a dividend yield of 2.53%. The ex-dividend date was Monday, January 13th. Shoe Carnival’s dividend payout ratio is 19.85%.

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

Analysts Set New Price Targets

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

Insider Buying and Selling

In related news, Chairman Wayne J. Weaver bought 285,500 shares of Shoe Carnival stock in a transaction that occurred on Friday, December 6th. The stock was purchased at an average cost of $33.91 per share, with a total value of $9,681,305.00. Following the purchase, the chairman now owns 4,173,529 shares in the company, valued at approximately $141,524,368.39. This trade represents a 7.34 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 34.70% of the stock is currently owned by company insiders.

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.