Shoe Carnival (NASDAQ:SCVL) CFO W Kerry Jackson Acquires 31,000 Shares of Stock

Shoe Carnival, Inc. (NASDAQ:SCVL) CFO W Kerry Jackson purchased 31,000 shares of Shoe Carnival stock in a transaction that occurred on Thursday, April 2nd. The shares were purchased at an average cost of $16.13 per share, with a total value of $500,030.00. Following the transaction, the chief financial officer directly owned 215,529 shares of the company’s stock, valued at $3,476,482.77. This represents a 16.80% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link.

Shoe Carnival Stock Down 0.4%

Shares of SCVL opened at $15.93 on Tuesday. The company has a market capitalization of $437.60 million, a P/E ratio of 8.38 and a beta of 1.36. The firm has a 50 day moving average of $18.82 and a 200 day moving average of $18.75. Shoe Carnival, Inc. has a twelve month low of $15.04 and a twelve month high of $26.57.

Shoe Carnival (NASDAQ:SCVL) last announced its quarterly earnings results on Thursday, March 26th. The company reported $0.33 earnings per share for the quarter, meeting the consensus estimate of $0.33. Shoe Carnival had a net margin of 4.60% and a return on equity of 7.75%. The company had revenue of $254.07 million during the quarter, compared to the consensus estimate of $255.83 million. During the same quarter last year, the firm earned $0.54 earnings per share. The firm’s quarterly revenue was down 3.3% compared to the same quarter last year. On average, sell-side analysts expect that Shoe Carnival, Inc. will post 2.6 EPS for the current year.

Shoe Carnival announced that its board has approved a stock repurchase program on Friday, December 12th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the company to purchase up to 9.9% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Shoe Carnival Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 20th. Investors of record on Monday, April 6th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 4.3%. The ex-dividend date is Monday, April 6th. This is a positive change from Shoe Carnival’s previous quarterly dividend of $0.15. Shoe Carnival’s dividend payout ratio is 31.58%.

Institutional Investors Weigh In On Shoe Carnival

Large investors have recently made changes to their positions in the company. Huntington National Bank grew its stake in shares of Shoe Carnival by 164.8% during the 3rd quarter. Huntington National Bank now owns 1,491 shares of the company’s stock valued at $31,000 after purchasing an additional 928 shares during the period. Global Retirement Partners LLC bought a new stake in shares of Shoe Carnival during the 4th quarter valued at about $28,000. Hantz Financial Services Inc. grew its stake in shares of Shoe Carnival by 305.0% during the 3rd quarter. Hantz Financial Services Inc. now owns 2,029 shares of the company’s stock valued at $42,000 after purchasing an additional 1,528 shares during the period. Kestra Advisory Services LLC bought a new stake in shares of Shoe Carnival during the 4th quarter valued at about $44,000. Finally, Los Angeles Capital Management LLC bought a new stake in shares of Shoe Carnival during the 4th quarter valued at $86,000. 66.05% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SCVL. Williams Trading set a $22.00 price objective on Shoe Carnival in a report on Thursday, February 26th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Shoe Carnival in a research report on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.00.

About Shoe Carnival

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.