Public Employees Retirement System of Ohio Has $3.06 Million Holdings in Shoe Carnival, Inc. (NASDAQ:SCVL)

Public Employees Retirement System of Ohio lowered its stake in Shoe Carnival, Inc. (NASDAQ:SCVL - Free Report) by 34.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 69,758 shares of the company's stock after selling 36,766 shares during the quarter. Public Employees Retirement System of Ohio owned approximately 0.26% of Shoe Carnival worth $3,059,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Innealta Capital LLC purchased a new position in Shoe Carnival during the 2nd quarter valued at about $41,000. Harvest Fund Management Co. Ltd purchased a new position in Shoe Carnival during the 3rd quarter valued at about $62,000. Quarry LP purchased a new position in Shoe Carnival during the 3rd quarter valued at about $66,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Shoe Carnival during the 3rd quarter valued at about $76,000. Finally, FMR LLC grew its stake in Shoe Carnival by 8.7% during the 3rd quarter. FMR LLC now owns 4,266 shares of the company's stock valued at $187,000 after acquiring an additional 343 shares in the last quarter. Hedge funds and other institutional investors own 66.05% of the company's stock.

Insider Buying and Selling

In related news, Chairman Wayne J. Weaver bought 285,500 shares of Shoe Carnival stock in a transaction that occurred on Friday, December 6th. The stock was purchased at an average cost of $33.91 per share, for a total transaction of $9,681,305.00. Following the acquisition, the chairman now 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 is accessible through the SEC website. Corporate insiders own 34.70% of the company's stock.

Shoe Carnival Stock Performance

Shares of NASDAQ SCVL traded up $1.13 during trading hours on Tuesday, hitting $36.22. The stock had a trading volume of 554,236 shares, compared to its average volume of 258,293. The company has a market capitalization of $984.28 million, a P/E ratio of 13.32 and a beta of 1.53. The firm's 50-day moving average price is $35.99 and its two-hundred day moving average price is $38.55. Shoe Carnival, Inc. has a 52 week low of $24.94 and a 52 week high of $46.92.

Shoe Carnival (NASDAQ:SCVL - Get Free Report) last announced its quarterly earnings results on Thursday, November 21st. The company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.70 by $0.01. The business 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 firm's quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.80 EPS. As a group, analysts expect that Shoe Carnival, Inc. will post 2.6 EPS for the current fiscal year.

Shoe Carnival announced that its board has authorized a stock buyback program on Thursday, December 12th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the company to purchase up to 5.2% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board believes its shares are undervalued.

Shoe Carnival Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Monday, January 13th will be issued a $0.135 dividend. The ex-dividend date of this dividend is Monday, January 13th. This represents a $0.54 annualized dividend and a yield of 1.49%. Shoe Carnival's dividend payout ratio (DPR) is currently 19.85%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on SCVL shares. Williams Trading lifted their target price 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 raised Shoe Carnival from a "sell" rating to a "hold" rating in a research note on Saturday, November 30th.

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.