Shoe Carnival, Inc. (NASDAQ:SCVL) Director Sells 2,467 Shares

Shoe Carnival, Inc. (NASDAQ:SCVL) Director Andrea R. Guthrie sold 2,467 shares of the company’s 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 transaction, the director now owns 20,106 shares in the company, valued at $652,640.76. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Shoe Carnival Price Performance

NASDAQ:SCVL opened at $33.15 on Friday. The firm has a market capitalization of $898.37 million, a PE ratio of 12.37 and a beta of 1.56. The business’s fifty day moving average price is $32.75 and its 200 day moving average price is $28.18. Shoe Carnival, Inc. has a 12 month low of $19.24 and a 12 month high of $37.08.

Shoe Carnival (NASDAQ:SCVL) last announced its quarterly earnings results on Thursday, March 21st. The company reported $0.59 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.59. Shoe Carnival had a return on equity of 13.17% and a net margin of 6.24%. The firm had revenue of $280.20 million during the quarter, compared to the consensus estimate of $280.30 million. During the same period in the prior year, the company posted $0.79 earnings per share. The firm’s quarterly revenue was down 3.6% compared to the same quarter last year. As a group, equities analysts anticipate that Shoe Carnival, Inc. will post 2.65 EPS for the current year.

Shoe Carnival Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 22nd. Stockholders of record on Monday, April 8th will be given a dividend of $0.135 per share. The ex-dividend date is Friday, April 5th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 1.63%. This is a boost from Shoe Carnival’s previous quarterly dividend of $0.12. Shoe Carnival’s payout ratio is 20.15%.

Institutional Investors Weigh In On Shoe Carnival

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Brandywine Global Investment Management LLC lifted its position in Shoe Carnival by 16.2% during the 3rd quarter. Brandywine Global Investment Management LLC now owns 83,118 shares of the company’s stock worth $1,997,000 after acquiring an additional 11,559 shares during the period. Copeland Capital Management LLC boosted its holdings in Shoe Carnival by 19.3% during the third quarter. Copeland Capital Management LLC now owns 1,494,501 shares of the company’s stock worth $35,913,000 after buying an additional 242,035 shares in the last quarter. Envestnet Asset Management Inc. increased its position in shares of Shoe Carnival by 60.0% in the third quarter. Envestnet Asset Management Inc. now owns 223,519 shares of the company’s stock valued at $5,371,000 after buying an additional 83,860 shares in the last quarter. Stifel Financial Corp increased its holdings in Shoe Carnival by 13.6% during the 3rd quarter. Stifel Financial Corp now owns 69,809 shares of the company’s stock valued at $1,678,000 after acquiring an additional 8,331 shares in the last quarter. Finally, First Eagle Investment Management LLC increased its stake in shares of Shoe Carnival by 10.3% during the 3rd quarter. First Eagle Investment Management LLC now owns 361,394 shares of the company’s stock worth $8,684,000 after purchasing an additional 33,599 shares in the last quarter. Hedge funds and other institutional investors own 66.05% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on SCVL shares. Williams Trading raised Shoe Carnival from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research note on Friday, March 22nd. Monness Crespi & Hardt lowered Shoe Carnival from a “buy” rating to a “neutral” rating in a research report 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.