Shoe Carnival (NASDAQ:SCVL) Sets New 52-Week High After Strong Earnings

Shares of Shoe Carnival, Inc. (NASDAQ:SCVL) reached a new 52-week high during trading on Friday following a stronger than expected earnings report. The company traded as high as $37.09 and last traded at $37.09, with a volume of 66428 shares changing hands. The stock had previously closed at $36.29.

The company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.04. Shoe Carnival had a net margin of 6.24% and a return on equity of 13.17%. The company had revenue of $300.37 million during the quarter, compared to the consensus estimate of $292.38 million.

Shoe Carnival Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 22nd. Investors of record on Monday, April 8th were paid a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a yield of 1.45%. This is a boost from Shoe Carnival’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Friday, April 5th. Shoe Carnival’s dividend payout ratio (DPR) is 20.15%.

Wall Street Analyst Weigh In

SCVL has been the topic of a number of research reports. Monness Crespi & Hardt cut shares of Shoe Carnival from a “buy” rating to a “neutral” rating in a research note on Tuesday, March 19th. Williams Trading raised shares of Shoe Carnival from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a research note on Friday, March 22nd.

Insider Buying and Selling

In related news, Director Andrea R. Guthrie sold 2,467 shares of the business’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $32.46, for a total value of $80,078.82. Following the transaction, the director now owns 20,106 shares in the company, valued at $652,640.76. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, EVP Carl N. Scibetta sold 5,415 shares of the business’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $35.45, for a total value of $191,961.75. Following the transaction, the executive vice president now owns 118,077 shares in the company, valued at $4,185,829.65. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Andrea R. Guthrie sold 2,467 shares of the stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $32.46, for a total transaction of $80,078.82. Following the transaction, the director now directly owns 20,106 shares in the company, valued at approximately $652,640.76. The disclosure for this sale can be found here. 34.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Shoe Carnival

A number of institutional investors and hedge funds have recently made changes to their positions in SCVL. EMC Capital Management lifted its position in Shoe Carnival by 11.9% in the 1st quarter. EMC Capital Management now owns 7,468 shares of the company’s stock valued at $274,000 after acquiring an additional 793 shares in the last quarter. SRS Capital Advisors Inc. lifted its position in Shoe Carnival by 392.4% in the 4th quarter. SRS Capital Advisors Inc. now owns 1,300 shares of the company’s stock valued at $39,000 after acquiring an additional 1,036 shares in the last quarter. Illinois Municipal Retirement Fund lifted its position in Shoe Carnival by 11.5% in the 1st quarter. Illinois Municipal Retirement Fund now owns 11,112 shares of the company’s stock valued at $407,000 after acquiring an additional 1,143 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its position in Shoe Carnival by 11.3% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 15,369 shares of the company’s stock valued at $562,000 after acquiring an additional 1,562 shares in the last quarter. Finally, NBC Securities Inc. purchased a new stake in Shoe Carnival in the 3rd quarter valued at about $44,000. Institutional investors own 66.05% of the company’s stock.

Shoe Carnival Stock Performance

The stock has a market cap of $1.01 billion, a PE ratio of 13.54 and a beta of 1.57. The company’s 50 day simple moving average is $34.50 and its 200 day simple moving average is $29.96.

About Shoe Carnival

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 operates stores, and sells its products through online shopping at shoecarnival.com, as well as through mobile app.