Arizona State Retirement System lowered its stake in Shoe Carnival, Inc. (NASDAQ:SCVL) by 12.7% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,684 shares of the company’s stock after selling 2,283 shares during the quarter. Arizona State Retirement System’s holdings in Shoe Carnival were worth $509,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in SCVL. WINTON GROUP Ltd lifted its position in Shoe Carnival by 333.6% during the first quarter. WINTON GROUP Ltd now owns 182,818 shares of the company’s stock valued at $4,351,000 after acquiring an additional 140,656 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in Shoe Carnival by 77.4% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 132,700 shares of the company’s stock valued at $4,306,000 after purchasing an additional 57,900 shares during the last quarter. Mackay Shields LLC purchased a new stake in Shoe Carnival in the 1st quarter valued at $1,285,000. Citigroup Inc. raised its position in Shoe Carnival by 4,434.6% in the 1st quarter. Citigroup Inc. now owns 43,804 shares of the company’s stock valued at $1,043,000 after purchasing an additional 42,838 shares during the last quarter. Finally, Acadian Asset Management LLC raised its position in Shoe Carnival by 21.2% in the 2nd quarter. Acadian Asset Management LLC now owns 181,599 shares of the company’s stock valued at $5,891,000 after purchasing an additional 31,814 shares during the last quarter. Institutional investors and hedge funds own 79.13% of the company’s stock.

Several analysts recently commented on SCVL shares. Citigroup downgraded shares of Shoe Carnival from a “buy” rating to a “neutral” rating and set a $32.00 price target for the company. in a research report on Thursday, July 19th. They noted that the move was a valuation call. Wedbush reiterated an “outperform” rating and issued a $38.00 price target (up previously from $33.00) on shares of Shoe Carnival in a research report on Thursday, August 23rd. Pivotal Research downgraded shares of Shoe Carnival from a “buy” rating to a “hold” rating and upped their price target for the company from $43.00 to $45.00 in a research report on Tuesday, September 4th. Zacks Investment Research upgraded shares of Shoe Carnival from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a research report on Saturday, August 25th. Finally, BidaskClub cut shares of Shoe Carnival from a “buy” rating to a “hold” rating in a research note on Wednesday, July 25th. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $33.57.

Shares of SCVL opened at $40.57 on Friday. The firm has a market capitalization of $664.48 million, a price-to-earnings ratio of 27.20 and a beta of 0.90. Shoe Carnival, Inc. has a 1 year low of $17.94 and a 1 year high of $45.00.

Shoe Carnival (NASDAQ:SCVL) last posted its quarterly earnings results on Tuesday, August 28th. The company reported $0.76 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.20. Shoe Carnival had a net margin of 2.98% and a return on equity of 12.06%. The business had revenue of $268.37 million for the quarter, compared to analysts’ expectations of $265.16 million. During the same period in the prior year, the company posted $0.24 EPS. The business’s revenue for the quarter was up 14.2% on a year-over-year basis. equities research analysts anticipate that Shoe Carnival, Inc. will post 2.16 earnings per share for the current fiscal year.

In other Shoe Carnival news, Director Kent A. Kleeberger sold 2,172 shares of the company’s stock in a transaction dated Friday, August 31st. The shares were sold at an average price of $44.11, for a total value of $95,806.92. Following the transaction, the director now directly owns 16,460 shares in the company, valued at approximately $726,050.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 22.70% of the stock is currently owned by corporate insiders.

Shoe Carnival Profile

Shoe Carnival, Inc, together with its subsidiaries, operates as a family footwear retailer in the United States. The company offers various dress, casual, and athletic footwear products for men, women, and children; and accessories, such as socks, belts, shoe care items, handbags, sport bags, backpacks, jewelry, scarves, and wallets.

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Institutional Ownership by Quarter for Shoe Carnival (NASDAQ:SCVL)

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