Shoe Carnival (NASDAQ:SCVL) Share Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Shoe Carnival, Inc. (NASDAQ:SCVL) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $18.40 and traded as high as $18.80. Shoe Carnival shares last traded at $18.43, with a volume of 239,683 shares.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Shoe Carnival in a report on Friday, March 27th. Williams Trading set a $22.00 price objective on shares of Shoe Carnival in a report on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $22.00.

Shoe Carnival Trading Down 0.5%

The business’s fifty day simple moving average is $18.23 and its two-hundred day simple moving average is $18.40. The stock has a market capitalization of $506.27 million, a P/E ratio of 9.70 and a beta of 1.44.

Shoe Carnival (NASDAQ:SCVL) last issued its quarterly earnings results on Thursday, March 26th. The company reported $0.33 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.33. Shoe Carnival had a net margin of 4.60% and a return on equity of 7.75%. The firm had revenue of $254.07 million during the quarter, compared to the consensus estimate of $255.83 million. During the same period in the prior year, the firm earned $0.54 EPS. The business’s revenue was down 3.3% on a year-over-year basis. On average, equities research analysts anticipate that Shoe Carnival, Inc. will post 1.5 earnings per share for the current year.

Shoe Carnival Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 20th. Shareholders of record on Monday, April 6th were issued a $0.17 dividend. This is a boost from Shoe Carnival’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Monday, April 6th. This represents a $0.68 dividend on an annualized basis and a yield of 3.7%. Shoe Carnival’s payout ratio is currently 35.79%.

Insiders Place Their Bets

In related news, CFO W Kerry Jackson purchased 31,000 shares of Shoe Carnival stock in a transaction on Thursday, April 2nd. The stock was purchased at an average cost of $16.13 per share, with a total value of $500,030.00. Following the acquisition, the chief financial officer directly owned 215,529 shares in the company, valued at approximately $3,476,482.77. This trade represents a 16.80% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 35.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Shoe Carnival

Hedge funds have recently made changes to their positions in the business. Huntington National Bank raised its stake in shares of Shoe Carnival by 164.8% in the 3rd quarter. Huntington National Bank now owns 1,491 shares of the company’s stock valued at $31,000 after buying an additional 928 shares in the last quarter. Global Retirement Partners LLC acquired a new position in shares of Shoe Carnival in the 4th quarter valued at $28,000. Hantz Financial Services Inc. raised its stake in shares of Shoe Carnival by 305.0% in the 3rd quarter. Hantz Financial Services Inc. now owns 2,029 shares of the company’s stock valued at $42,000 after buying an additional 1,528 shares in the last quarter. Kestra Advisory Services LLC acquired a new position in shares of Shoe Carnival in the 4th quarter valued at $44,000. Finally, Los Angeles Capital Management LLC acquired a new position in shares of Shoe Carnival in the 4th quarter valued at $86,000. Institutional investors and hedge funds own 66.05% of the company’s stock.

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.