Shoe Carnival (NASDAQ:SCVL) Shares Down 5.3% – Should You Sell?

Shoe Carnival, Inc. (NASDAQ:SCVL) shares dropped 5.3% on Thursday . The stock traded as low as $33.08 and last traded at $33.08. 106,887 shares were traded during mid-day trading, a decline of 57% from the average daily volume of 250,552 shares. The stock had previously closed at $34.92.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SCVL. Williams Trading boosted their target price on Shoe Carnival from $42.00 to $51.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. StockNews.com raised Shoe Carnival from a “sell” rating to a “hold” rating in a research note on Saturday, November 30th.

Shoe Carnival Stock Up 3.7 %

The company has a quick ratio of 0.89, a current ratio of 3.88 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $921.33 million, a P/E ratio of 12.47 and a beta of 1.53. The firm has a fifty day simple moving average of $36.76 and a 200-day simple moving average of $38.59.

Shoe Carnival (NASDAQ:SCVL) last announced its earnings results on Thursday, November 21st. The company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.01. Shoe Carnival had a return on equity of 12.52% and a net margin of 6.12%. The business had revenue of $306.90 million for the quarter, compared to analyst estimates of $316.97 million. During the same quarter last year, the firm earned $0.80 EPS. Shoe Carnival’s revenue for the quarter was down 4.1% compared to the same quarter last year. On average, equities research analysts expect that Shoe Carnival, Inc. will post 2.6 EPS for the current fiscal year.

Shoe Carnival Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Monday, October 7th were issued a dividend of $0.135 per share. The ex-dividend date of this dividend was Monday, October 7th. This represents a $0.54 annualized dividend and a yield of 1.59%. Shoe Carnival’s payout ratio is presently 19.85%.

Hedge Funds Weigh In On Shoe Carnival

Hedge funds and other institutional investors have recently made changes to their positions in the company. Franklin Resources Inc. bought a new position in Shoe Carnival in the 3rd quarter valued at about $530,000. Barclays PLC lifted its position in shares of Shoe Carnival by 189.7% during the 3rd quarter. Barclays PLC now owns 30,342 shares of the company’s stock worth $1,330,000 after buying an additional 19,868 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Shoe Carnival by 2.4% in the 3rd quarter. Geode Capital Management LLC now owns 452,548 shares of the company’s stock valued at $19,848,000 after purchasing an additional 10,761 shares in the last quarter. XTX Topco Ltd acquired a new stake in Shoe Carnival in the third quarter valued at approximately $296,000. Finally, State Street Corp boosted its holdings in shares of Shoe Carnival by 2.2% during the 3rd quarter. State Street Corp now owns 793,318 shares of the company’s stock valued at $34,787,000 after acquiring an additional 17,086 shares in the last quarter. 66.05% of the stock is owned by institutional investors.

About Shoe Carnival

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.