Shoe Carnival (NASDAQ:SCVL) Share Price Passes Above 200-Day Moving Average of $28.57

Shoe Carnival, Inc. (NASDAQ:SCVL)’s stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $28.57 and traded as high as $35.06. Shoe Carnival shares last traded at $34.17, with a volume of 128,906 shares changing hands.

Analyst Upgrades and Downgrades

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

Shoe Carnival Stock Down 1.0 %

The company has a market capitalization of $926.01 million, a price-to-earnings ratio of 12.75 and a beta of 1.56. The business has a 50-day moving average price of $33.25 and a 200-day moving average price of $28.57.

Shoe Carnival (NASDAQ:SCVL) last issued its quarterly earnings results on Thursday, March 21st. The company reported $0.59 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.59. Shoe Carnival had a return on equity of 13.17% and a net margin of 6.24%. The firm 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 posted $0.79 EPS. Shoe Carnival’s revenue was down 3.6% on a year-over-year basis. As a group, sell-side analysts predict that Shoe Carnival, Inc. will post 2.65 EPS for the current year.

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 is a positive change from Shoe Carnival’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Friday, April 5th. This represents a $0.54 dividend on an annualized basis and a yield of 1.58%. Shoe Carnival’s dividend payout ratio (DPR) is currently 20.15%.

Insiders Place Their Bets

In other news, EVP Carl N. Scibetta sold 5,415 shares of the firm’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $35.45, for a total value 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 $4,185,829.65. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Andrea R. Guthrie sold 2,467 shares of the firm’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $32.46, for a total transaction of $80,078.82. Following the completion of the sale, the director now directly owns 20,106 shares in the company, valued at $652,640.76. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Carl N. Scibetta sold 5,415 shares of the company’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $35.45, for a total transaction of $191,961.75. Following the completion of the transaction, the executive vice president now owns 118,077 shares in the company, valued at approximately $4,185,829.65. The disclosure for this sale can be found here. Corporate insiders own 34.50% of the company’s stock.

Hedge Funds Weigh In On Shoe Carnival

Several institutional investors and hedge funds have recently modified their holdings of the stock. Maryland State Retirement & Pension System acquired a new stake in Shoe Carnival during the first quarter valued at $240,000. Denali Advisors LLC lifted its holdings in shares of Shoe Carnival by 48.5% during the 1st quarter. Denali Advisors LLC now owns 55,100 shares of the company’s stock valued at $2,019,000 after buying an additional 18,000 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Shoe Carnival by 16.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 190,953 shares of the company’s stock valued at $6,997,000 after buying an additional 27,404 shares in the last quarter. Sebold Capital Management Inc. increased its holdings in Shoe Carnival by 19.3% in the first quarter. Sebold Capital Management Inc. now owns 22,573 shares of the company’s stock worth $827,000 after buying an additional 3,653 shares during the last quarter. Finally, Wasatch Advisors LP raised its position in Shoe Carnival by 22.2% during the fourth quarter. Wasatch Advisors LP now owns 295,412 shares of the company’s stock valued at $8,924,000 after acquiring an additional 53,702 shares in the last quarter. 66.05% of the stock is currently owned by hedge funds and other institutional investors.

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