New York State Common Retirement Fund Sells 28,600 Shares of Shoe Carnival, Inc. (NASDAQ:SCVL)

Key Points

• The New York State Common Retirement Fund reduced its stake in Shoe Carnival, Inc. by 82.6%, selling 28,600 shares, leaving it with a holding of 6,022 shares valued at approximately $132,000.
• Shoe Carnival reported $0.34 earnings per share for the latest quarter, exceeding analysts' expectations of $0.30, despite a 7.6% decrease in revenue year-over-year.
• The company announced a quarterly dividend of $0.15 per share, marking a dividend yield of 2.69% and a payout ratio of 25.10%.

New York State Common Retirement Fund cut its holdings in Shoe Carnival, Inc. (NASDAQ:SCVL - Free Report) by 82.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,022 shares of the company's stock after selling 28,600 shares during the period. New York State Common Retirement Fund's holdings in Shoe Carnival were worth $132,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SCVL. NBC Securities Inc. grew its stake in shares of Shoe Carnival by 145,700.0% in the first quarter. NBC Securities Inc. now owns 1,458 shares of the company's stock valued at $32,000 after buying an additional 1,457 shares in the last quarter. Versant Capital Management Inc bought a new position in shares of Shoe Carnival in the first quarter valued at $33,000. GAMMA Investing LLC grew its stake in shares of Shoe Carnival by 404.0% in the first quarter. GAMMA Investing LLC now owns 2,510 shares of the company's stock valued at $55,000 after buying an additional 2,012 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Shoe Carnival in the fourth quarter valued at $99,000. Finally, 1492 Capital Management LLC bought a new position in shares of Shoe Carnival in the fourth quarter valued at $215,000. 66.05% of the stock is currently owned by institutional investors and hedge funds.

Shoe Carnival Stock Down 1.9%

Shares of NASDAQ:SCVL traded down $0.40 during midday trading on Thursday, hitting $20.53. The stock had a trading volume of 72,377 shares, compared to its average volume of 499,260. Shoe Carnival, Inc. has a 12 month low of $16.14 and a 12 month high of $46.92. The business's 50-day simple moving average is $20.19 and its 200-day simple moving average is $21.57. The company has a market cap of $561.07 million, a P/E ratio of 8.61 and a beta of 1.37.

Shoe Carnival (NASDAQ:SCVL - Get Free Report) last released its quarterly earnings data on Friday, May 30th. The company reported $0.34 EPS for the quarter, topping analysts' consensus estimates of $0.30 by $0.04. Shoe Carnival had a net margin of 5.58% and a return on equity of 10.43%. The firm had revenue of $277.72 million during the quarter, compared to analysts' expectations of $285.16 million. During the same period in the previous year, the business posted $0.64 earnings per share. The company's revenue for the quarter was down 7.6% compared to the same quarter last year. As a group, equities analysts predict that Shoe Carnival, Inc. will post 2.6 earnings per share for the current year.

Shoe Carnival Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 21st. Shareholders of record on Monday, July 7th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, July 7th. This represents a $0.60 dividend on an annualized basis and a yield of 2.92%. Shoe Carnival's dividend payout ratio (DPR) is 25.10%.

About Shoe Carnival

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.