Shoe Carnival (NASDAQ:SHOE) Shares Cross Above 200 Day Moving Average – What’s Next?

Shoe Carnival, Inc. (NASDAQ:SHOE)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $0.00 and traded as high as $15.55. Shoe Carnival shares last traded at $15.50, with a volume of 504,817 shares changing hands.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on SHOE shares. Weiss Ratings assumed coverage on shares of Shoe Carnival in a research report on Monday, June 15th. They issued a “hold (c-)” rating on the stock. Zacks Research lowered shares of Shoe Carnival from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 12th. One investment 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, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $22.00.

Shoe Carnival Trading Up 1.8%

The stock has a market capitalization of $421.94 million, a P/E ratio of 11.58 and a beta of 1.43. The firm has a fifty day moving average of $15.37.

Shoe Carnival (NASDAQ:SHOE) last posted its 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%. As a group, sell-side analysts expect that Shoe Carnival, Inc. will post 1.5 EPS for the current fiscal year.

Shoe Carnival Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 20th. Shareholders of record on Monday, July 6th were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 4.4%. The ex-dividend date was Monday, July 6th. Shoe Carnival’s dividend payout ratio is currently 50.37%.

Institutional Investors Weigh In On Shoe Carnival

Several large investors have recently made changes to their positions in the company. Global Retirement Partners LLC bought a new position in Shoe Carnival during the 4th quarter valued at about $28,000. Huntington National Bank grew its stake in Shoe Carnival by 45.5% during the fourth quarter. Huntington National Bank now owns 2,169 shares of the company’s stock worth $37,000 after buying an additional 678 shares during the last quarter. Kestra Advisory Services LLC bought a new stake in Shoe Carnival during the fourth quarter worth about $44,000. Legal & General Group Plc acquired a new stake in shares of Shoe Carnival during the second quarter worth approximately $56,000. Finally, State of Wyoming acquired a new stake in shares of Shoe Carnival during the second quarter worth approximately $61,000. Institutional investors 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.