New York State Teachers Retirement System Cuts Position in Shoe Carnival, Inc. (NASDAQ:SCVL)

New York State Teachers Retirement System decreased its holdings in Shoe Carnival, Inc. (NASDAQ:SCVL) by 3.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 22,649 shares of the company’s stock after selling 896 shares during the quarter. New York State Teachers Retirement System’s holdings in Shoe Carnival were worth $749,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of SCVL. Harvest Fund Management Co. Ltd purchased a new position in shares of Shoe Carnival in the third quarter valued at $62,000. Quarry LP purchased a new position in shares of Shoe Carnival in the third quarter valued at $66,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Shoe Carnival in the third quarter valued at $76,000. FMR LLC increased its position in shares of Shoe Carnival by 8.7% in the third quarter. FMR LLC now owns 4,266 shares of the company’s stock valued at $187,000 after buying an additional 343 shares in the last quarter. Finally, Paloma Partners Management Co purchased a new position in shares of Shoe Carnival in the third quarter valued at $228,000. Hedge funds and other institutional investors own 66.05% of the company’s stock.

Shoe Carnival Stock Down 2.7 %

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

Shoe Carnival (NASDAQ:SCVL) last posted its quarterly earnings data on Thursday, November 21st. The company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.01. The business had revenue of $306.90 million for the quarter, compared to analyst estimates of $316.97 million. Shoe Carnival had a return on equity of 12.52% and a net margin of 6.12%. The business’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.80 earnings per share. On average, sell-side analysts anticipate that Shoe Carnival, Inc. will post 2.6 earnings per share for the current year.

Shoe Carnival Dividend Announcement

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

Shoe Carnival announced that its board has approved a share repurchase plan on Thursday, December 12th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 5.2% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

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

Insider Activity at Shoe Carnival

In related news, Chairman Wayne J. Weaver acquired 285,500 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The shares were acquired at an average price of $33.91 per share, with a total value of $9,681,305.00. Following the completion of the purchase, the chairman now directly owns 4,173,529 shares in the company, valued at approximately $141,524,368.39. The trade was a 7.34 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 34.70% of the company’s stock.

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.