State Street Corp Buys 17,086 Shares of Shoe Carnival, Inc. (NASDAQ:SCVL)

State Street Corp lifted its position in Shoe Carnival, Inc. (NASDAQ:SCVL) by 2.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 793,318 shares of the company’s stock after buying an additional 17,086 shares during the quarter. State Street Corp’s holdings in Shoe Carnival were worth $34,787,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Pacer Advisors Inc. acquired a new stake in Shoe Carnival in the third quarter valued at $37,440,000. American Century Companies Inc. raised its holdings in shares of Shoe Carnival by 34.7% in the 2nd quarter. American Century Companies Inc. now owns 410,355 shares of the company’s stock valued at $15,138,000 after purchasing an additional 105,818 shares during the period. Millennium Management LLC lifted its stake in Shoe Carnival by 726.1% in the 2nd quarter. Millennium Management LLC now owns 101,831 shares of the company’s stock valued at $3,757,000 after purchasing an additional 89,504 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Shoe Carnival by 138.3% in the 3rd quarter. Victory Capital Management Inc. now owns 59,239 shares of the company’s stock valued at $2,598,000 after purchasing an additional 34,382 shares during the last quarter. Finally, Maverick Capital Ltd. grew its holdings in Shoe Carnival by 98.9% during the second quarter. Maverick Capital Ltd. now owns 56,790 shares of the company’s stock worth $2,095,000 after purchasing an additional 28,233 shares during the period. 66.05% of the stock is owned by institutional investors.

Insider Transactions at Shoe Carnival

In other Shoe Carnival news, Chairman Wayne J. Weaver bought 285,500 shares of the firm’s stock in a transaction on Friday, December 6th. The shares were purchased at an average price of $33.91 per share, for a total transaction of $9,681,305.00. Following the transaction, the chairman now directly owns 4,173,529 shares in the company, valued at approximately $141,524,368.39. This trade represents a 7.34 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 34.70% of the company’s stock.

Shoe Carnival Stock Performance

Shares of SCVL stock opened at $34.65 on Friday. Shoe Carnival, Inc. has a 52 week low of $24.94 and a 52 week high of $46.92. The company has a market capitalization of $941.61 million, a price-to-earnings ratio of 12.74 and a beta of 1.53. The company has a 50-day simple moving average of $35.76 and a 200 day simple moving average of $38.48.

Shoe Carnival (NASDAQ:SCVL) last issued its quarterly earnings data on Thursday, November 21st. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.01. The company had revenue of $306.90 million during the quarter, compared to analysts’ expectations 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 was down 4.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.80 earnings per share. Sell-side analysts forecast that Shoe Carnival, Inc. will post 2.6 EPS for the current year.

Shoe Carnival announced that its Board of Directors has initiated a share buyback program on Thursday, December 12th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 5.2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Shoe Carnival Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Monday, January 13th will be given a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend is Monday, January 13th. Shoe Carnival’s payout ratio is 19.85%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Williams Trading upped their price objective on Shoe Carnival from $42.00 to $51.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. StockNews.com upgraded Shoe Carnival from a “sell” rating to a “hold” rating in a research note on Saturday, November 30th.

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.