State of Alaska Department of Revenue Cuts Stock Position in Shoe Carnival, Inc. (NASDAQ:SCVL)

State of Alaska Department of Revenue decreased its stake in shares of Shoe Carnival, Inc. (NASDAQ:SCVL) by 4.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,063 shares of the company’s stock after selling 451 shares during the quarter. State of Alaska Department of Revenue’s holdings in Shoe Carnival were worth $441,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Innealta Capital LLC bought a new position in shares of Shoe Carnival during the second quarter valued at $41,000. Everence Capital Management Inc. bought a new stake in Shoe Carnival during the 3rd quarter valued at about $224,000. Summit Global Investments bought a new stake in Shoe Carnival during the 2nd quarter valued at about $244,000. EMC Capital Management raised its holdings in Shoe Carnival by 11.9% in the first quarter. EMC Capital Management now owns 7,468 shares of the company’s stock worth $274,000 after buying an additional 793 shares during the last quarter. Finally, Creative Planning bought a new position in shares of Shoe Carnival in the second quarter worth approximately $281,000. 66.05% of the stock is owned by institutional investors.

Shoe Carnival Stock Up 0.3 %

SCVL opened at $37.97 on Friday. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of 13.46 and a beta of 1.56. The firm has a 50 day moving average price of $39.61 and a 200-day moving average price of $38.57. Shoe Carnival, Inc. has a twelve month low of $21.50 and a twelve month high of $46.92.

Shoe Carnival (NASDAQ:SCVL) last announced its earnings results on Thursday, September 5th. The company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.03. Shoe Carnival had a net margin of 6.26% and a return on equity of 13.26%. The business had revenue of $332.70 million during the quarter, compared to analyst estimates of $331.45 million. During the same period in the previous year, the business earned $0.71 EPS. The company’s quarterly revenue was up 12.9% compared to the same quarter last year. As a group, analysts expect that Shoe Carnival, Inc. will post 2.65 earnings per share for the current year.

Shoe Carnival Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Monday, October 7th were paid a dividend of $0.135 per share. The ex-dividend date was Monday, October 7th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 1.42%. Shoe Carnival’s dividend payout ratio is currently 19.15%.

Wall Street Analyst Weigh In

Separately, Williams Trading raised their price target on shares of Shoe Carnival from $42.00 to $51.00 and gave the company a “buy” rating in a research report on Thursday, August 29th.

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.