Shoe Carnival (NASDAQ:SCVL) Sets New 12-Month High Following Strong Earnings

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

The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.60 by $0.04. The company had revenue of $300.37 million during the quarter, compared to the consensus estimate of $292.38 million. Shoe Carnival had a net margin of 6.20% and a return on equity of 13.02%.

Shoe Carnival Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 22nd. Stockholders of record on Monday, April 8th were given a dividend of $0.135 per share. This is an increase from Shoe Carnival’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Friday, April 5th. This represents a $0.54 annualized dividend and a dividend yield of 1.46%. Shoe Carnival’s dividend payout ratio (DPR) is 19.93%.

Analyst Upgrades and Downgrades

SCVL has been the topic of a number of recent research reports. Monness Crespi & Hardt cut Shoe Carnival from a “buy” rating to a “neutral” rating in a report on Tuesday, March 19th. Williams Trading upgraded 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 Activity

In other news, EVP Carl N. Scibetta sold 5,415 shares of the firm’s 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 completion of the sale, the executive vice president now directly owns 118,077 shares of the company’s stock, valued at approximately $4,185,829.65. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, EVP Carl N. Scibetta sold 5,415 shares of Shoe Carnival stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $35.45, for a total value of $191,961.75. Following the completion of the sale, the executive vice president now owns 118,077 shares of the company’s stock, valued at approximately $4,185,829.65. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Andrea R. Guthrie sold 2,467 shares of the company’s stock in a transaction dated 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 in the company, valued at $652,640.76. The disclosure for this sale can be found here. Insiders own 34.70% of the company’s stock.

Institutional Investors Weigh In On Shoe Carnival

Hedge funds and other institutional investors have recently modified their holdings of the stock. EMC Capital Management grew its holdings in shares of Shoe Carnival by 11.9% during the first quarter. EMC Capital Management now owns 7,468 shares of the company’s stock worth $274,000 after purchasing an additional 793 shares in the last quarter. SRS Capital Advisors Inc. boosted its stake in Shoe Carnival by 392.4% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,300 shares of the company’s stock worth $39,000 after buying an additional 1,036 shares in the last quarter. Illinois Municipal Retirement Fund boosted its stake in Shoe Carnival by 11.5% in the first quarter. Illinois Municipal Retirement Fund now owns 11,112 shares of the company’s stock worth $407,000 after buying an additional 1,143 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in Shoe Carnival by 11.3% in the first quarter. CANADA LIFE ASSURANCE Co now owns 15,369 shares of the company’s stock worth $562,000 after buying an additional 1,562 shares in the last quarter. Finally, NBC Securities Inc. purchased a new stake in Shoe Carnival in the third quarter worth approximately $44,000. 66.05% of the stock is currently owned by institutional investors.

Shoe Carnival Price Performance

The stock has a market cap of $1.01 billion, a PE ratio of 13.68 and a beta of 1.57. The business has a 50 day moving average price of $34.58 and a two-hundred day moving average price of $30.09.

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.