Shoe Carnival, Inc. (NASDAQ:SCVL) Raises Dividend to $0.14 Per Share

Shoe Carnival, Inc. (NASDAQ:SCVL) announced a quarterly dividend on Wednesday, March 13th, Zacks reports. Investors of record on Monday, April 8th will be paid a dividend of 0.135 per share on Monday, April 22nd. This represents a $0.54 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend is Friday, April 5th. This is a positive change from Shoe Carnival’s previous quarterly dividend of $0.12.

Shoe Carnival has raised its dividend by an average of 32.8% annually over the last three years and has increased its dividend annually for the last 12 consecutive years. Shoe Carnival has a dividend payout ratio of 15.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Shoe Carnival to earn $3.00 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 16.0%.

Shoe Carnival Stock Down 1.7 %

Shares of NASDAQ SCVL opened at $35.35 on Thursday. The firm has a market cap of $957.99 million, a PE ratio of 13.19 and a beta of 1.56. Shoe Carnival has a twelve month low of $19.24 and a twelve month high of $37.08. The business has a fifty day simple moving average of $31.07 and a two-hundred day simple moving average of $27.31.

Shoe Carnival (NASDAQ:SCVL) last announced its earnings results on Thursday, March 21st. The company reported $0.59 earnings per share for the quarter, hitting the consensus estimate of $0.59. The firm had revenue of $280.20 million for the quarter, compared to the consensus estimate of $280.30 million. Shoe Carnival had a return on equity of 13.17% and a net margin of 6.24%. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.79 EPS. On average, research analysts expect that Shoe Carnival will post 2.65 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on SCVL shares. Monness Crespi & Hardt cut Shoe Carnival from a “buy” rating to a “neutral” rating in a report on Tuesday, March 19th. Williams Trading raised Shoe Carnival from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a report on Friday, March 22nd.

Insider Activity

In other news, EVP Carl N. Scibetta sold 5,415 shares of the company’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $35.45, for a total value of $191,961.75. Following the completion of the sale, the executive vice president now directly owns 118,077 shares in the company, valued at $4,185,829.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 34.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Advisory Services Network LLC grew its position in Shoe Carnival by 124.8% in the first quarter. Advisory Services Network LLC now owns 1,261 shares of the company’s stock worth $32,000 after acquiring an additional 700 shares during the period. Captrust Financial Advisors grew its position in Shoe Carnival by 54.3% in the first quarter. Captrust Financial Advisors now owns 2,278 shares of the company’s stock worth $66,000 after acquiring an additional 802 shares during the period. Point72 Hong Kong Ltd grew its position in Shoe Carnival by 14.8% in the second quarter. Point72 Hong Kong Ltd now owns 4,661 shares of the company’s stock worth $101,000 after acquiring an additional 602 shares during the period. Teachers Retirement System of The State of Kentucky purchased a new position in Shoe Carnival in the third quarter worth approximately $127,000. Finally, Tower Research Capital LLC TRC grew its position in Shoe Carnival by 61.7% in the second quarter. Tower Research Capital LLC TRC now owns 5,484 shares of the company’s stock worth $129,000 after acquiring an additional 2,093 shares during the period. 66.05% of the stock is currently owned by hedge funds and other institutional investors.

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 sells its products through online shopping at shoecarnival.com, as well as through mobile application.