Shoe Carnival (NASDAQ:SCVL) Stock Price Up 6.9%

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Shoe Carnival, Inc. (NASDAQ:SCVL) rose 6.9% on Monday . The stock traded as high as $29.49 and last traded at $28.97, approximately 102,640 shares changed hands during mid-day trading. A decline of 49% from the average daily volume of 202,944 shares. The stock had previously closed at $27.09.

SCVL has been the subject of several research analyst reports. Pivotal Research increased their price objective on Shoe Carnival from $24.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, May 21st. ValuEngine upgraded Shoe Carnival from a “sell” rating to a “hold” rating in a research note on Wednesday, April 8th. BidaskClub upgraded Shoe Carnival from a “sell” rating to a “hold” rating in a research note on Thursday, June 25th. Wedbush raised their target price on Shoe Carnival from $32.00 to $35.00 and gave the company an “outperform” rating in a research note on Tuesday, June 23rd. Finally, Sidoti lowered their target price on Shoe Carnival from $48.00 to $31.00 and set a “buy” rating for the company in a research note on Friday, March 20th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $36.80.

The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.22 and a current ratio of 2.23. The company has a market cap of $381.72 million, a P/E ratio of 35.33 and a beta of 1.25. The stock has a 50-day moving average of $25.99 and a two-hundred day moving average of $28.77.

Shoe Carnival (NASDAQ:SCVL) last posted its quarterly earnings data on Wednesday, May 20th. The company reported ($1.16) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.97) by ($0.19). Shoe Carnival had a net margin of 1.38% and a return on equity of 4.35%. The company had revenue of $147.50 million for the quarter, compared to the consensus estimate of $140.42 million. During the same period last year, the business earned $0.78 EPS. The firm’s quarterly revenue was down 41.9% on a year-over-year basis. Research analysts predict that Shoe Carnival, Inc. will post 0.65 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 20th. Investors of record on Monday, July 6th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend is Thursday, July 2nd. This is a positive change from Shoe Carnival’s previous quarterly dividend of $0.09. Shoe Carnival’s dividend payout ratio (DPR) is 12.19%.

In related news, Director James A. Aschleman sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $29.61, for a total transaction of $44,415.00. Following the completion of the transaction, the director now owns 13,978 shares of the company’s stock, valued at approximately $413,888.58. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 27.50% of the stock is owned by company insiders.

Institutional investors have recently bought and sold shares of the business. Bank of Montreal Can increased its holdings in shares of Shoe Carnival by 38.9% in the 4th quarter. Bank of Montreal Can now owns 1,233 shares of the company’s stock worth $46,000 after purchasing an additional 345 shares in the last quarter. Royal Bank of Canada increased its holdings in shares of Shoe Carnival by 3,124.8% in the 1st quarter. Royal Bank of Canada now owns 3,386 shares of the company’s stock worth $70,000 after purchasing an additional 3,281 shares in the last quarter. Citigroup Inc. increased its holdings in shares of Shoe Carnival by 115.4% in the 4th quarter. Citigroup Inc. now owns 4,579 shares of the company’s stock worth $171,000 after purchasing an additional 2,453 shares in the last quarter. Panagora Asset Management Inc. increased its holdings in shares of Shoe Carnival by 34.2% in the 4th quarter. Panagora Asset Management Inc. now owns 6,311 shares of the company’s stock worth $235,000 after purchasing an additional 1,609 shares in the last quarter. Finally, IndexIQ Advisors LLC bought a new stake in shares of Shoe Carnival in the 1st quarter worth $162,000. 77.69% of the stock is owned by institutional investors and hedge funds.

About Shoe Carnival (NASDAQ:SCVL)

Shoe Carnival, Inc, together with its subsidiaries, operates as a family footwear retailer in the United States. The company offers various dress, casual, and athletic footwear products for men, women, and children; and accessories, such as socks, belts, shoe care items, handbags, sport bags, backpacks, scarves, and wallets.

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