New York State Teachers Retirement System Decreases Stake in Shoe Carnival, Inc. $SCVL

New York State Teachers Retirement System lowered its position in Shoe Carnival, Inc. (NASDAQ:SCVL) by 7.7% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 20,908 shares of the company’s stock after selling 1,741 shares during the period. New York State Teachers Retirement System’s holdings in Shoe Carnival were worth $391,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SCVL. New South Capital Management Inc. lifted its holdings in Shoe Carnival by 189.9% in the 1st quarter. New South Capital Management Inc. now owns 699,824 shares of the company’s stock valued at $15,389,000 after purchasing an additional 458,412 shares in the last quarter. Copeland Capital Management LLC lifted its holdings in Shoe Carnival by 22.8% in the 2nd quarter. Copeland Capital Management LLC now owns 1,718,101 shares of the company’s stock valued at $32,146,000 after purchasing an additional 318,771 shares in the last quarter. Pacer Advisors Inc. purchased a new position in Shoe Carnival in the 1st quarter valued at $4,936,000. Millennium Management LLC lifted its holdings in Shoe Carnival by 215.9% in the 1st quarter. Millennium Management LLC now owns 321,764 shares of the company’s stock valued at $7,076,000 after purchasing an additional 219,918 shares in the last quarter. Finally, Cubist Systematic Strategies LLC lifted its holdings in Shoe Carnival by 418.6% in the 1st quarter. Cubist Systematic Strategies LLC now owns 238,480 shares of the company’s stock valued at $5,244,000 after purchasing an additional 192,494 shares in the last quarter. Hedge funds and other institutional investors own 66.05% of the company’s stock.

Analysts Set New Price Targets

SCVL has been the topic of a number of research reports. Weiss Ratings restated a “hold (c)” rating on shares of Shoe Carnival in a report on Wednesday, October 8th. Wall Street Zen upgraded Shoe Carnival from a “sell” rating to a “hold” rating in a report on Friday, September 26th. Zacks Research lowered Shoe Carnival from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 26th. Finally, Seaport Res Ptn lowered Shoe Carnival from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 26th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce”.

Insider Transactions at Shoe Carnival

In related news, Director Andrea R. Guthrie sold 2,477 shares of the business’s stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $20.20, for a total value of $50,035.40. Following the sale, the director directly owned 24,405 shares in the company, valued at approximately $492,981. The trade was a 9.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 35.50% of the company’s stock.

Shoe Carnival Stock Down 2.8%

NASDAQ SCVL opened at $19.48 on Thursday. Shoe Carnival, Inc. has a 52 week low of $16.14 and a 52 week high of $39.29. The business’s fifty day simple moving average is $21.59 and its 200-day simple moving average is $20.29. The firm has a market cap of $533.17 million, a PE ratio of 8.58 and a beta of 1.37.

Shoe Carnival (NASDAQ:SCVL) last posted its quarterly earnings results on Thursday, September 4th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.61 by $0.09. Shoe Carnival had a return on equity of 9.65% and a net margin of 5.41%.The business had revenue of $306.39 million for the quarter, compared to analyst estimates of $318.31 million. During the same quarter in the previous year, the firm earned $0.83 EPS. The company’s quarterly revenue was down 7.9% compared to the same quarter last year. Shoe Carnival has set its FY 2025 guidance at 1.700-2.10 EPS. Research analysts expect that Shoe Carnival, Inc. will post 2.6 EPS for the current year.

Shoe Carnival Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 20th. Investors of record on Monday, October 6th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 3.1%. The ex-dividend date was Monday, October 6th. Shoe Carnival’s payout ratio is 26.43%.

Shoe Carnival Company 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.