Shoe Carnival (NASDAQ:SCVL) PT Lowered to $40.00

Shoe Carnival (NASDAQ:SCVLGet Rating) had its target price reduced by Monness Crespi & Hardt to $40.00 in a report issued on Thursday morning, Stock Target Advisor reports. Monness Crespi & Hardt currently has a sector weight rating on the stock.

A number of other brokerages have also weighed in on SCVL. StockNews.com began coverage on Shoe Carnival in a research report on Thursday, March 31st. They issued a buy rating for the company. Zacks Investment Research lowered shares of Shoe Carnival from a strong-buy rating to a hold rating in a report on Wednesday, May 18th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Buy and a consensus price target of $40.33.

Shares of NASDAQ SCVL opened at $26.07 on Thursday. Shoe Carnival has a 52 week low of $25.03 and a 52 week high of $46.21. The firm’s fifty day moving average is $30.80 and its 200 day moving average is $34.25. The company has a market cap of $734.37 million, a price-to-earnings ratio of 5.38 and a beta of 1.39.

Shoe Carnival (NASDAQ:SCVLGet Rating) last announced its earnings results on Wednesday, May 18th. The company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.01. Shoe Carnival had a net margin of 10.50% and a return on equity of 32.77%. During the same quarter in the previous year, the firm posted $1.51 EPS. As a group, equities analysts predict that Shoe Carnival will post 3.95 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, April 18th. Investors of record on Monday, April 4th were given a $0.09 dividend. The ex-dividend date was Friday, April 1st. This is an increase from Shoe Carnival’s previous quarterly dividend of $0.07. This represents a $0.36 dividend on an annualized basis and a yield of 1.38%. Shoe Carnival’s dividend payout ratio (DPR) is currently 7.42%.

In related news, Director Andrea R. Guthrie sold 1,300 shares of the firm’s stock in a transaction on Wednesday, April 13th. The stock was sold at an average price of $31.40, for a total value of $40,820.00. Following the completion of the sale, the director now directly owns 24,746 shares in the company, valued at $777,024.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 32.00% of the stock is owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in SCVL. BlackRock Inc. increased its stake in Shoe Carnival by 97.5% in the third quarter. BlackRock Inc. now owns 2,860,861 shares of the company’s stock worth $92,748,000 after purchasing an additional 1,412,045 shares during the period. Dimensional Fund Advisors LP increased its stake in Shoe Carnival by 101.2% in the third quarter. Dimensional Fund Advisors LP now owns 2,034,296 shares of the company’s stock worth $65,956,000 after purchasing an additional 1,023,332 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in Shoe Carnival by 100.0% in the third quarter. Arrowstreet Capital Limited Partnership now owns 515,580 shares of the company’s stock worth $16,715,000 after purchasing an additional 257,790 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in Shoe Carnival in the fourth quarter worth $8,843,000. Finally, Invesco Ltd. increased its stake in Shoe Carnival by 177.6% in the third quarter. Invesco Ltd. now owns 330,240 shares of the company’s stock worth $10,706,000 after purchasing an additional 211,283 shares during the period. Institutional investors and hedge funds own 64.18% of the company’s stock.

Shoe Carnival Company Profile (Get Rating)

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. As of January 29, 2022, it operated 372 stores in 35 states and Puerto Rico under the Shoe Carnival banner; and 21 locations across the Southeast under the Shoe Station banner.

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