Shoe Carnival, Inc. (NASDAQ:SCVL) EVP Carl N. Scibetta Sells 5,415 Shares

Shoe Carnival, Inc. (NASDAQ:SCVL) EVP Carl N. Scibetta sold 5,415 shares of Shoe Carnival stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $35.45, for a total transaction of $191,961.75. Following the completion of the sale, the executive vice president now owns 118,077 shares of the company’s stock, valued at approximately $4,185,829.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Shoe Carnival Price Performance

Shoe Carnival stock opened at $35.73 on Thursday. The stock has a fifty day moving average price of $30.00 and a two-hundred day moving average price of $26.80. The firm has a market capitalization of $969.35 million, a P/E ratio of 13.33 and a beta of 1.54. Shoe Carnival, Inc. has a 52-week low of $19.24 and a 52-week high of $37.08.

Shoe Carnival (NASDAQ:SCVL) last posted its quarterly earnings results on Thursday, March 21st. The company reported $0.59 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.59. Shoe Carnival had a return on equity of 13.17% and a net margin of 6.24%. The business had revenue of $280.20 million for the quarter, compared to analysts’ expectations of $280.30 million. During the same quarter last year, the business earned $0.79 earnings per share. The firm’s quarterly revenue was down 3.6% compared to the same quarter last year. On average, equities research analysts predict that Shoe Carnival, Inc. will post 2.65 EPS for the current fiscal year.

Shoe Carnival Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 22nd. Stockholders of record on Monday, April 8th will be given a dividend of $0.135 per share. The ex-dividend date of this dividend is Friday, April 5th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 1.51%. This is a positive change from Shoe Carnival’s previous quarterly dividend of $0.12. Shoe Carnival’s dividend payout ratio (DPR) is currently 17.91%.

Institutional Investors Weigh In On Shoe Carnival

A number of hedge funds have recently modified their holdings of the business. Nuveen Asset Management LLC raised its position in Shoe Carnival by 0.4% in the 4th quarter. Nuveen Asset Management LLC now owns 101,337 shares of the company’s stock valued at $3,061,000 after buying an additional 361 shares during the last quarter. Comerica Bank lifted its position in shares of Shoe Carnival by 2.3% during the 4th quarter. Comerica Bank now owns 25,031 shares of the company’s stock worth $756,000 after buying an additional 552 shares during the last quarter. Great West Life Assurance Co. Can raised its position in Shoe Carnival by 4.0% in the first quarter. Great West Life Assurance Co. Can now owns 15,494 shares of the company’s stock valued at $463,000 after purchasing an additional 592 shares during the last quarter. Point72 Hong Kong Ltd increased its stake in shares of Shoe Carnival by 14.8% in the second quarter. Point72 Hong Kong Ltd now owns 4,661 shares of the company’s stock valued at $101,000 after buying an additional 602 shares during the period. Finally, Russell Investments Group Ltd. increased its stake in shares of Shoe Carnival by 1.0% in the second quarter. Russell Investments Group Ltd. now owns 65,767 shares of the company’s stock valued at $1,544,000 after buying an additional 666 shares during the period. Institutional investors and hedge funds own 66.05% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on SCVL shares. Williams Trading raised shares of Shoe Carnival from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a report on Friday, March 22nd. Monness Crespi & Hardt cut shares of Shoe Carnival from a “buy” rating to a “neutral” rating in a research report on Tuesday, March 19th.

Shoe Carnival Company Profile

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. The company also sells its products through online shopping at shoecarnival.com, as well as through mobile application.