Shoe Carnival (NASDAQ:SCVL) Sets New 52-Week High After Strong Earnings

Shoe Carnival, Inc. (NASDAQ:SCVL) hit a new 52-week high during mid-day trading on Friday following a better than expected earnings announcement. The company traded as high as $37.09 and last traded at $37.09, with a volume of 66428 shares traded. The stock had previously closed at $36.29.

The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.04. The business had revenue of $300.37 million for the quarter, compared to analyst estimates of $292.38 million. Shoe Carnival had a return on equity of 13.17% and a net margin of 6.24%.

Shoe Carnival Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 22nd. Stockholders of record on Monday, April 8th were paid a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a dividend yield of 1.45%. The ex-dividend date was Friday, April 5th. This is a boost from Shoe Carnival’s previous quarterly dividend of $0.12. Shoe Carnival’s dividend payout ratio is 20.15%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on SCVL shares. Monness Crespi & Hardt lowered Shoe Carnival from a “buy” rating to a “neutral” rating in a report on Tuesday, March 19th. Williams Trading raised Shoe Carnival from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a report on Friday, March 22nd.

Insider Transactions at Shoe Carnival

In related news, EVP Carl N. Scibetta sold 5,415 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $35.45, for a total transaction of $191,961.75. Following the sale, the executive vice president now directly owns 118,077 shares in the company, valued at approximately $4,185,829.65. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Shoe Carnival news, EVP Carl N. Scibetta sold 5,415 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $35.45, for a total transaction of $191,961.75. Following the completion of the sale, the executive vice president now owns 118,077 shares in the company, valued at approximately $4,185,829.65. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, 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 value of $80,078.82. Following the sale, the director now owns 20,106 shares of the company’s stock, valued at approximately $652,640.76. The disclosure for this sale can be found here. Company insiders own 34.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in SCVL. Vanguard Group Inc. lifted its holdings in shares of Shoe Carnival by 2.1% in the 3rd quarter. Vanguard Group Inc. now owns 1,308,114 shares of the company’s stock worth $31,434,000 after purchasing an additional 26,662 shares during the last quarter. First Eagle Investment Management LLC lifted its holdings in shares of Shoe Carnival by 14.0% in the 4th quarter. First Eagle Investment Management LLC now owns 412,144 shares of the company’s stock worth $12,451,000 after purchasing an additional 50,750 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Shoe Carnival by 6.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 333,411 shares of the company’s stock worth $10,072,000 after purchasing an additional 20,941 shares during the last quarter. Wasatch Advisors LP lifted its holdings in shares of Shoe Carnival by 22.2% in the 4th quarter. Wasatch Advisors LP now owns 295,412 shares of the company’s stock worth $8,924,000 after purchasing an additional 53,702 shares during the last quarter. Finally, Meros Investment Management LP lifted its holdings in shares of Shoe Carnival by 20.1% in the 3rd quarter. Meros Investment Management LP now owns 287,225 shares of the company’s stock worth $6,902,000 after purchasing an additional 48,166 shares during the last quarter. Institutional investors and hedge funds own 66.05% of the company’s stock.

Shoe Carnival Stock Performance

The firm has a market cap of $1.01 billion, a P/E ratio of 13.54 and a beta of 1.57. The firm has a fifty day moving average of $34.50 and a 200-day moving average of $29.96.

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.