Shoe Carnival (NASDAQ:SCVL) Issues Quarterly Earnings Results

Shoe Carnival (NASDAQ:SCVL) released its earnings results on Thursday. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.03, Zacks reports. Shoe Carnival had a net margin of 4.60% and a return on equity of 7.75%. During the same period in the prior year, the company posted $0.34 earnings per share. Shoe Carnival’s revenue was down 2.5% compared to the same quarter last year.

Shoe Carnival Price Performance

Shares of NASDAQ:SCVL opened at $15.78 on Thursday. The stock has a market cap of $433.52 million, a price-to-earnings ratio of 8.33 and a beta of 1.44. Shoe Carnival has a 12 month low of $14.91 and a 12 month high of $26.57. The stock’s 50 day moving average price is $17.37 and its 200 day moving average price is $18.14.

Shoe Carnival Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 20th. Investors of record on Monday, April 6th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, April 6th. This is a positive change from Shoe Carnival’s previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a yield of 4.3%. Shoe Carnival’s dividend payout ratio is presently 35.79%.

Insider Activity

In other news, CFO W Kerry Jackson acquired 31,000 shares of the company’s stock in a transaction dated Thursday, April 2nd. The shares were bought at an average price of $16.13 per share, with a total value of $500,030.00. Following the purchase, the chief financial officer owned 215,529 shares of the company’s stock, valued at approximately $3,476,482.77. This represents a 16.80% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 33.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD purchased a new stake in shares of Shoe Carnival during the fourth quarter valued at $188,000. Weiss Asset Management LP acquired a new stake in Shoe Carnival during the 4th quarter worth about $220,000. Panagora Asset Management Inc. acquired a new position in Shoe Carnival in the 4th quarter worth approximately $192,000. Sherbrooke Park Advisers LLC acquired a new position in Shoe Carnival in the third quarter worth approximately $282,000. Finally, Inceptionr LLC bought a new stake in Shoe Carnival during the third quarter worth approximately $217,000. 66.05% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Weiss Ratings reissued a “hold (c-)” rating on shares of Shoe Carnival in a research report on Friday, March 27th. Williams Trading set a $22.00 target price on shares of Shoe Carnival in a research note on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $22.00.

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.