Short Interest in Shoe Carnival, Inc. (NASDAQ:SCVL) Increases By 19.5%

Shoe Carnival, Inc. (NASDAQ:SCVL) was the recipient of a large growth in short interest during the month of January. As of January 15th, there was short interest totaling 3,468,194 shares, a growth of 19.5% from the December 31st total of 2,901,222 shares. Currently, 19.6% of the company’s shares are short sold. Based on an average daily volume of 518,119 shares, the days-to-cover ratio is presently 6.7 days. Based on an average daily volume of 518,119 shares, the days-to-cover ratio is presently 6.7 days. Currently, 19.6% of the company’s shares are short sold.

Shoe Carnival Price Performance

SCVL stock traded up $0.31 during midday trading on Tuesday, hitting $19.73. The company’s stock had a trading volume of 352,141 shares, compared to its average volume of 438,411. The stock has a market capitalization of $540.21 million, a P/E ratio of 9.40 and a beta of 1.36. The company’s fifty day moving average price is $18.27 and its 200 day moving average price is $19.69. Shoe Carnival has a twelve month low of $15.21 and a twelve month high of $27.99.

Shoe Carnival (NASDAQ:SCVL) last issued its quarterly earnings results on Thursday, November 20th. The company reported $0.53 EPS for the quarter, meeting the consensus estimate of $0.53. Shoe Carnival had a return on equity of 8.75% and a net margin of 5.06%.The firm had revenue of $297.16 million during the quarter, compared to analysts’ expectations of $295.25 million. During the same period in the prior year, the firm posted $0.71 earnings per share. The business’s quarterly revenue was down 3.2% compared to the same quarter last year. Shoe Carnival has set its FY 2025 guidance at 1.800-2.100 EPS. Equities analysts expect that Shoe Carnival will post 2.6 EPS for the current fiscal year.

Shoe Carnival declared that its board has authorized a share repurchase program on Friday, December 12th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 9.9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Shoe Carnival Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 26th. Stockholders of record on Monday, January 12th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Monday, January 12th. Shoe Carnival’s dividend payout ratio (DPR) is presently 28.57%.

Wall Street Analyst Weigh In

Several research firms have weighed in on SCVL. Weiss Ratings reissued a “hold (c-)” rating on shares of Shoe Carnival in a research note on Monday, December 29th. Zacks Research cut Shoe Carnival from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 25th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has an average rating of “Hold”.

Institutional Trading of Shoe Carnival

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Shoe Carnival by 51.8% during the second quarter. Arrowstreet Capital Limited Partnership now owns 642,771 shares of the company’s stock worth $12,026,000 after acquiring an additional 219,443 shares during the period. American Century Companies Inc. increased its position in Shoe Carnival by 2.6% during the 2nd quarter. American Century Companies Inc. now owns 585,175 shares of the company’s stock worth $10,949,000 after buying an additional 14,577 shares during the period. Geode Capital Management LLC increased its position in Shoe Carnival by 1.3% during the 2nd quarter. Geode Capital Management LLC now owns 447,456 shares of the company’s stock worth $8,373,000 after buying an additional 5,807 shares during the period. Hodges Capital Management Inc. lifted its holdings in shares of Shoe Carnival by 1.3% during the third quarter. Hodges Capital Management Inc. now owns 444,302 shares of the company’s stock worth $9,237,000 after buying an additional 5,882 shares in the last quarter. Finally, Wasatch Advisors LP boosted its position in shares of Shoe Carnival by 8.5% in the third quarter. Wasatch Advisors LP now owns 397,677 shares of the company’s stock valued at $8,268,000 after acquiring an additional 31,024 shares during the period. 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.