Teacher Retirement System of Texas Sells 9,546 Shares of Shoe Carnival, Inc. (NASDAQ:SCVL)

Teacher Retirement System of Texas reduced its holdings in Shoe Carnival, Inc. (NASDAQ:SCVL) by 26.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 27,074 shares of the company’s stock after selling 9,546 shares during the quarter. Teacher Retirement System of Texas’ holdings in Shoe Carnival were worth $896,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of SCVL. Barclays PLC increased its position in shares of Shoe Carnival by 189.7% in the third quarter. Barclays PLC now owns 30,342 shares of the company’s stock worth $1,330,000 after purchasing an additional 19,868 shares during the last quarter. State Street Corp increased its holdings in shares of Shoe Carnival by 2.2% in 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Shoe Carnival by 16.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 50,069 shares of the company’s stock valued at $2,196,000 after buying an additional 6,946 shares in the last quarter. Hodges Capital Management Inc. lifted its holdings in shares of Shoe Carnival by 20.0% during the 4th quarter. Hodges Capital Management Inc. now owns 581,508 shares of the company’s stock worth $19,236,000 after acquiring an additional 96,753 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in Shoe Carnival by 3.8% in the fourth quarter. Principal Financial Group Inc. now owns 95,181 shares of the company’s stock worth $3,149,000 after acquiring an additional 3,452 shares in the last quarter. Hedge funds and other institutional investors own 66.05% of the company’s stock.

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.

Shoe Carnival Price Performance

Shares of NASDAQ SCVL opened at $22.00 on Friday. The stock has a market capitalization of $597.85 million, a P/E ratio of 8.09 and a beta of 1.50. Shoe Carnival, Inc. has a one year low of $20.51 and a one year high of $46.92. The firm’s 50 day simple moving average is $24.24 and its two-hundred day simple moving average is $32.21.

Shoe Carnival (NASDAQ:SCVL) last issued its earnings results on Thursday, March 20th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.12. Shoe Carnival had a net margin of 6.12% and a return on equity of 12.52%. The company had revenue of $262.90 million for the quarter, compared to analysts’ expectations of $277.89 million. During the same quarter last year, the company earned $0.59 EPS. The firm’s revenue was down 6.2% compared to the same quarter last year. As a group, equities analysts expect that Shoe Carnival, Inc. will post 2.6 earnings per share for the current fiscal year.

Shoe Carnival Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, April 7th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, April 7th. This is a boost from Shoe Carnival’s previous quarterly dividend of $0.14. This represents a $0.60 annualized dividend and a yield of 2.73%. Shoe Carnival’s dividend payout ratio is currently 22.39%.

Shoe Carnival announced that its Board of Directors has authorized a stock buyback plan on Thursday, December 12th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 5.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

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.