Shoe Carnival, Inc. (NASDAQ:SCVL) Short Interest Update

Shoe Carnival, Inc. (NASDAQ:SCVL) saw a large decrease in short interest during the month of December. As of December 31st, there was short interest totaling 2,901,222 shares, a decrease of 27.4% from the December 15th total of 3,997,513 shares. Based on an average trading volume of 919,804 shares, the short-interest ratio is presently 3.2 days. Currently, 16.4% of the company’s stock are sold short. Currently, 16.4% of the company’s stock are sold short. Based on an average trading volume of 919,804 shares, the short-interest ratio is presently 3.2 days.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SCVL. Zacks Research lowered Shoe Carnival from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 25th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Shoe Carnival in a research report on Monday, December 29th. Finally, Wall Street Zen raised Shoe Carnival from a “sell” rating to a “hold” rating in a research report on Friday, September 26th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has an average rating of “Hold”.

Shoe Carnival Price Performance

Shares of NASDAQ SCVL traded down $0.41 during midday trading on Monday, reaching $18.98. The company’s stock had a trading volume of 329,943 shares, compared to its average volume of 687,381. Shoe Carnival has a 12-month low of $15.21 and a 12-month high of $30.92. The firm has a 50 day moving average price of $17.75 and a 200-day moving average price of $19.84. The stock has a market capitalization of $519.67 million, a P/E ratio of 9.04 and a beta of 1.31.

Shoe Carnival (NASDAQ:SCVL) last issued its quarterly earnings results on Thursday, November 20th. The company reported $0.53 EPS for the quarter, hitting analysts’ consensus estimates of $0.53. The business had revenue of $297.16 million for the quarter, compared to analyst estimates of $295.25 million. Shoe Carnival had a return on equity of 8.75% and a net margin of 5.06%.Shoe Carnival’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same period last year, the company posted $0.71 earnings per share. Shoe Carnival has set its FY 2025 guidance at 1.800-2.100 EPS. On average, equities analysts predict that Shoe Carnival will post 2.6 EPS for the current year.

Shoe Carnival Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 26th. Stockholders of record on Monday, January 12th will be paid a dividend of $0.15 per share. The ex-dividend date is Monday, January 12th. This represents a $0.60 annualized dividend and a dividend yield of 3.2%. Shoe Carnival’s dividend payout ratio (DPR) is presently 28.57%.

Shoe Carnival announced that its board has approved a share repurchase program on Friday, December 12th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 9.9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On Shoe Carnival

Several institutional investors and hedge funds have recently bought and sold shares of the company. Huntington National Bank raised its stake in shares of Shoe Carnival by 164.8% in the third quarter. Huntington National Bank now owns 1,491 shares of the company’s stock valued at $31,000 after buying an additional 928 shares during the period. First Horizon Advisors Inc. raised its stake in Shoe Carnival by 33.8% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,923 shares of the company’s stock valued at $36,000 after acquiring an additional 486 shares during the period. Hantz Financial Services Inc. lifted its holdings in Shoe Carnival by 305.0% during the third quarter. Hantz Financial Services Inc. now owns 2,029 shares of the company’s stock valued at $42,000 after purchasing an additional 1,528 shares during the last quarter. CWM LLC boosted its position in Shoe Carnival by 44.5% during the second quarter. CWM LLC now owns 5,610 shares of the company’s stock worth $105,000 after purchasing an additional 1,727 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of Shoe Carnival by 162.5% in the second quarter. GAMMA Investing LLC now owns 6,590 shares of the company’s stock worth $123,000 after purchasing an additional 4,080 shares in the last quarter. 66.05% of the stock is owned by institutional investors.

Shoe Carnival Company Profile

Shoe Carnival, Inc (NASDAQ: SCVL) is a U.S.-based specialty retailer offering a broad assortment of footwear, apparel and accessories for the entire family. Through its network of brick-and-mortar stores and e-commerce platform, the company provides casual, athletic and dress shoes for men, women and children, as well as complementary apparel, handbags, socks and other accessories designed to deliver value and variety. Its distinctive in-store carnival host service model aims to create an engaging shopping experience and foster customer loyalty.

Founded in 1978 and headquartered in Evansville, Indiana, Shoe Carnival has expanded over four decades to operate more than 350 retail locations across over 30 states.