Jane Street Group LLC Lowers Position in Shoe Carnival, Inc. (NASDAQ:SCVL)

Jane Street Group LLC lowered its stake in shares of Shoe Carnival, Inc. (NASDAQ:SCVL) by 34.7% during the third quarter, HoldingsChannel.com reports. The firm owned 33,440 shares of the company’s stock after selling 17,783 shares during the period. Jane Street Group LLC’s holdings in Shoe Carnival were worth $1,466,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in SCVL. State Street Corp increased its holdings in shares of Shoe Carnival by 2.2% during the 3rd quarter. State Street Corp now owns 793,318 shares of the company’s stock worth $34,787,000 after buying an additional 17,086 shares during the last quarter. Quarry LP purchased a new stake in shares of Shoe Carnival during the 3rd quarter worth about $66,000. Petrus Trust Company LTA increased its position in Shoe Carnival by 134.3% during the 3rd quarter. Petrus Trust Company LTA now owns 37,926 shares of the company’s stock worth $1,663,000 after purchasing an additional 21,737 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in Shoe Carnival in the third quarter valued at approximately $346,000. Finally, Centiva Capital LP lifted its position in Shoe Carnival by 74.9% during the third quarter. Centiva Capital LP now owns 12,996 shares of the company’s stock valued at $570,000 after buying an additional 5,564 shares in the last quarter. Institutional investors and hedge funds own 66.05% of the company’s stock.

Insider Activity at Shoe Carnival

In other Shoe Carnival news, Chairman Wayne J. Weaver acquired 285,500 shares of the stock in a transaction on Friday, December 6th. The stock was purchased at an average price of $33.91 per share, for a total transaction of $9,681,305.00. Following the purchase, the chairman now directly owns 4,173,529 shares in the company, valued at $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 SEC, which can be accessed through this hyperlink. Company insiders own 34.70% of the company’s stock.

Shoe Carnival Price Performance

Shares of SCVL opened at $35.67 on Friday. Shoe Carnival, Inc. has a 12 month low of $24.94 and a 12 month high of $46.92. The stock’s 50-day moving average is $35.31 and its two-hundred day moving average is $38.40. The stock has a market cap of $969.33 million, a PE ratio of 13.11 and a beta of 1.53.

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

Shoe Carnival declared that its board has approved a stock buyback plan on Thursday, December 12th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the company to repurchase up to 5.2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Shoe Carnival Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Monday, January 13th will be issued a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date of this dividend is Monday, January 13th. Shoe Carnival’s payout ratio is 19.85%.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Shoe Carnival from a “sell” rating to a “hold” rating in a research report 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.