Jane Street Group LLC Sells 17,783 Shares of Shoe Carnival, Inc. (NASDAQ:SCVL)

Jane Street Group LLC cut its stake in shares of Shoe Carnival, Inc. (NASDAQ:SCVL - Free Report) by 34.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,440 shares of the company's stock after selling 17,783 shares during the quarter. Jane Street Group LLC owned 0.12% of Shoe Carnival worth $1,466,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Innealta Capital LLC purchased a new stake in shares of Shoe Carnival during the second quarter valued at approximately $41,000. Harvest Fund Management Co. Ltd purchased a new stake in Shoe Carnival during the 3rd quarter valued at $62,000. Quarry LP purchased a new stake in Shoe Carnival during the 3rd quarter valued at $66,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Shoe Carnival in the 3rd quarter worth $76,000. Finally, FMR LLC increased its position in shares of Shoe Carnival by 8.7% in the third quarter. FMR LLC now owns 4,266 shares of the company's stock valued at $187,000 after acquiring an additional 343 shares during the period. 66.05% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Shoe Carnival from a "sell" rating to a "hold" rating in a research note on Saturday, November 30th.

Insiders Place Their Bets

In related news, Chairman Wayne J. Weaver purchased 285,500 shares of Shoe Carnival stock in a transaction dated 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 completion of the acquisition, the chairman now directly owns 4,173,529 shares of the company's stock, valued at $141,524,368.39. The trade was a 7.34 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 34.70% of the company's stock.

Shoe Carnival Price Performance

SCVL stock traded down $0.71 during trading on Friday, reaching $35.67. The company had a trading volume of 325,396 shares, compared to its average volume of 267,115. The business has a 50 day moving average of $35.23 and a 200 day moving average of $38.40. The company has a market cap of $969.33 million, a P/E ratio of 13.11 and a beta of 1.53. 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 issued its quarterly earnings results on Thursday, November 21st. The company reported $0.71 earnings per share 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 company had revenue of $306.90 million for the quarter, compared to analysts' expectations of $316.97 million. During the same period in the prior year, the firm earned $0.80 earnings per share. The firm's revenue for the quarter was down 4.1% on a year-over-year basis. Research analysts expect that Shoe Carnival, Inc. will post 2.6 earnings per share for the current year.

Shoe Carnival Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Monday, January 13th will be paid a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a yield of 1.51%. The ex-dividend date is Monday, January 13th. Shoe Carnival's payout ratio is currently 19.85%.

Shoe Carnival declared that its Board of Directors has authorized a share repurchase program on Thursday, December 12th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the company to repurchase up to 5.2% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's leadership believes its shares are 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.