Shoe Carnival (NASDAQ:SCVL) Stock Price Down 4.7% – What’s Next?

by · The Markets Daily

Shoe Carnival, Inc. (NASDAQ:SCVL – Get Free Report) shares fell 4.7% during trading on Monday . The company traded as low as $37.86 and last traded at $37.87. 48,306 shares changed hands during trading, a decline of 79% from the average session volume of 232,735 shares. The stock had previously closed at $39.73.

Analysts Set New Price Targets

Separately, Williams Trading boosted their price objective on Shoe Carnival from $42.00 to $51.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th.

Read Our Latest Research Report on SCVL

Shoe Carnival Price Performance

The firm has a market capitalization of $978.66 million, a PE ratio of 12.85 and a beta of 1.53. The stock has a 50-day moving average price of $41.36 and a 200-day moving average price of $38.41.

Shoe Carnival (NASDAQ:SCVL – Get Free Report) last announced its quarterly earnings data on Thursday, September 5th. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.03. The firm had revenue of $332.70 million during the quarter, compared to analyst estimates of $331.45 million. Shoe Carnival had a return on equity of 13.26% and a net margin of 6.26%. Shoe Carnival’s quarterly revenue was up 12.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.71 earnings per share. As a group, equities research analysts predict that Shoe Carnival, Inc. will post 2.65 earnings per share for the current fiscal year.

Shoe Carnival Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Monday, October 7th were issued a $0.135 dividend. This represents a $0.54 annualized dividend and a yield of 1.50%. The ex-dividend date was Monday, October 7th. Shoe Carnival’s dividend payout ratio is currently 19.15%.

Hedge Funds Weigh In On Shoe Carnival

Institutional investors have recently made changes to their positions in the stock. Empowered Funds LLC grew its holdings in shares of Shoe Carnival by 40.4% during the first quarter. Empowered Funds LLC now owns 114,073 shares of the company’s stock valued at $4,180,000 after purchasing an additional 32,827 shares during the last quarter. Maryland State Retirement & Pension System bought a new position in shares of Shoe Carnival during the first quarter valued at approximately $240,000. CANADA LIFE ASSURANCE Co grew its holdings in shares of Shoe Carnival by 11.3% during the first quarter. CANADA LIFE ASSURANCE Co now owns 15,369 shares of the company’s stock valued at $562,000 after purchasing an additional 1,562 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Shoe Carnival during the first quarter valued at approximately $383,000. Finally, Creative Planning bought a new position in shares of Shoe Carnival during the second quarter valued at approximately $281,000. 66.05% of the stock is owned by institutional investors.

About Shoe Carnival

(Get Free Report)

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.

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