Shoe Carnival (NASDAQ:SHOE) Shares Cross Above 200-Day Moving Average – Time to Sell?

Shoe Carnival, Inc. (NASDAQ:SHOE)’s share price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $0.00 and traded as high as $15.72. Shoe Carnival shares last traded at $15.61, with a volume of 372,899 shares.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Zacks Research downgraded shares of Shoe Carnival from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 12th. Weiss Ratings began coverage on Shoe Carnival in a report on Monday, June 15th. They issued a “hold (c-)” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Shoe Carnival currently has an average rating of “Moderate Buy” and an average price target of $22.00.

Shoe Carnival Price Performance

The firm has a market cap of $427.61 million, a P/E ratio of 11.67 and a beta of 1.43.

Shoe Carnival (NASDAQ:SHOE) last posted its quarterly earnings results on Thursday, May 21st. The company reported $0.23 earnings per share for the quarter. The business had revenue of $270.73 million for the quarter. Shoe Carnival had a net margin of 3.31% and a return on equity of 7.24%. On average, research analysts anticipate that Shoe Carnival, Inc. will post 1.5 earnings per share for the current fiscal year.

Shoe Carnival Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 20th. Shareholders of record on Monday, July 6th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 4.3%. The ex-dividend date was Monday, July 6th. Shoe Carnival’s dividend payout ratio is presently 50.37%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SHOE. BlackRock Inc. acquired a new stake in Shoe Carnival in the second quarter valued at $29,007,000. Meros Investment Management LP acquired a new position in shares of Shoe Carnival during the 4th quarter worth $7,007,000. Millennium Management LLC raised its stake in shares of Shoe Carnival by 215.9% during the 1st quarter. Millennium Management LLC now owns 321,764 shares of the company’s stock worth $7,076,000 after buying an additional 219,918 shares during the last quarter. Royce & Associates LP boosted its position in shares of Shoe Carnival by 38.6% in the 4th quarter. Royce & Associates LP now owns 577,201 shares of the company’s stock worth $9,743,000 after buying an additional 160,747 shares in the last quarter. Finally, Jane Street Group LLC boosted its position in shares of Shoe Carnival by 341.9% in the 4th quarter. Jane Street Group LLC now owns 205,942 shares of the company’s stock worth $3,476,000 after buying an additional 159,339 shares in the last quarter. 66.05% of the stock is owned by hedge funds and other 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.