Citigroup Inc. Lowers Stake in Shoe Carnival, Inc. (SCVL)

Citigroup Inc. cut its stake in shares of Shoe Carnival, Inc. (NASDAQ:SCVL) by 8.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 35,276 shares of the company’s stock after selling 3,282 shares during the period. Citigroup Inc. owned 0.23% of Shoe Carnival worth $1,182,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Arizona State Retirement System grew its stake in shares of Shoe Carnival by 1.9% during the 4th quarter. Arizona State Retirement System now owns 15,449 shares of the company’s stock valued at $518,000 after buying an additional 290 shares during the period. Legal & General Group Plc boosted its position in Shoe Carnival by 4.4% during the 3rd quarter. Legal & General Group Plc now owns 22,217 shares of the company’s stock worth $850,000 after purchasing an additional 942 shares during the period. Wells Fargo & Company MN boosted its position in Shoe Carnival by 7.4% during the 3rd quarter. Wells Fargo & Company MN now owns 18,701 shares of the company’s stock worth $719,000 after purchasing an additional 1,289 shares during the period. Advisor Group Inc. boosted its position in Shoe Carnival by 1,066.1% during the 4th quarter. Advisor Group Inc. now owns 2,134 shares of the company’s stock worth $71,000 after purchasing an additional 1,951 shares during the period. Finally, Smith Asset Management Group LP purchased a new stake in Shoe Carnival during the 4th quarter worth $69,000. 87.32% of the stock is owned by institutional investors.

Shares of Shoe Carnival stock opened at $32.73 on Friday. Shoe Carnival, Inc. has a twelve month low of $22.21 and a twelve month high of $45.00. The firm has a market cap of $505.16 million, a P/E ratio of 21.97 and a beta of 0.78.

SCVL has been the subject of a number of research reports. BidaskClub cut shares of Shoe Carnival from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 31st. Pivotal Research reaffirmed a “buy” rating and set a $45.00 price target (down from $47.00) on shares of Shoe Carnival in a research report on Tuesday, January 15th. ValuEngine raised shares of Shoe Carnival from a “hold” rating to a “buy” rating in a research report on Thursday, January 3rd. Susquehanna Bancshares raised shares of Shoe Carnival from a “neutral” rating to a “positive” rating and set a $42.00 price target for the company in a research report on Wednesday, January 2nd. Finally, UBS Group raised shares of Shoe Carnival from a “neutral” rating to a “positive” rating in a research report on Wednesday, January 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $38.83.

In related news, Director Kent A. Kleeberger sold 1,074 shares of the company’s stock in a transaction on Thursday, December 27th. The shares were sold at an average price of $33.98, for a total transaction of $36,494.52. Following the completion of the sale, the director now directly owns 13,886 shares of the company’s stock, valued at approximately $471,846.28. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 22.70% of the stock is currently owned by corporate insiders.

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About Shoe Carnival

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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