Shoe Carnival (NASDAQ:SCVL) Announces Earnings Results

Shoe Carnival (NASDAQ:SCVL) posted its quarterly earnings data on Thursday. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.04, reports. Shoe Carnival had a net margin of 6.20% and a return on equity of 13.02%. The company had revenue of $300.37 million during the quarter, compared to analyst estimates of $292.38 million. Shoe Carnival updated its FY25 guidance to $2.55-2.75 EPS.

Shoe Carnival Stock Performance

Shoe Carnival stock opened at $37.07 on Friday. Shoe Carnival has a 52 week low of $19.24 and a 52 week high of $37.35. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of 13.68 and a beta of 1.57. The company has a 50 day moving average price of $34.58 and a 200 day moving average price of $30.05.

Shoe Carnival Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 22nd. Stockholders of record on Monday, April 8th were issued a dividend of $0.135 per share. The ex-dividend date was Friday, April 5th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 1.46%. This is a positive change from Shoe Carnival’s previous quarterly dividend of $0.12. Shoe Carnival’s payout ratio is currently 19.93%.

Insider Buying and Selling at Shoe Carnival

In other news, EVP Carl N. Scibetta sold 5,415 shares of Shoe Carnival stock in a transaction 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 transaction, the executive vice president now owns 118,077 shares in the company, valued at $4,185,829.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Shoe Carnival news, 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 value of $191,961.75. Following the transaction, the executive vice president now owns 118,077 shares in the company, valued at approximately $4,185,829.65. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Andrea R. Guthrie sold 2,467 shares of the stock in a transaction that occurred on Tuesday, April 16th. The stock was 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 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 Trading of Shoe Carnival

A number of institutional investors have recently bought and sold shares of SCVL. First Dallas Securities Inc. acquired a new stake in shares of Shoe Carnival during the 3rd quarter valued at about $5,816,000. Soviero Asset Management LP lifted its stake in Shoe Carnival by 244.3% in the fourth quarter. Soviero Asset Management LP now owns 241,000 shares of the company’s stock valued at $7,281,000 after acquiring an additional 171,000 shares during the last quarter. Public Employees Retirement System of Ohio grew its position in Shoe Carnival by 49.1% in the third quarter. Public Employees Retirement System of Ohio now owns 265,412 shares of the company’s stock worth $6,378,000 after acquiring an additional 87,415 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Shoe Carnival by 60.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 223,519 shares of the company’s stock worth $5,371,000 after purchasing an additional 83,860 shares during the last quarter. Finally, Wasatch Advisors LP increased its stake in shares of Shoe Carnival by 22.2% during 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. Institutional investors and hedge funds own 66.05% of the company’s stock.

Wall Street Analyst Weigh In

SCVL has been the subject of a number of research reports. Williams Trading upgraded shares of Shoe Carnival from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a report on Friday, March 22nd. Monness Crespi & Hardt lowered Shoe Carnival from a “buy” rating to a “neutral” rating in a research note on Tuesday, March 19th.

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.