Shoe Carnival (NASDAQ:SCVL) Stock Price Down 3.8% – What’s Next?

Shoe Carnival, Inc. (NASDAQ:SCVL)’s stock price dropped 3.8% on Tuesday . The company traded as low as $33.47 and last traded at $33.48. Approximately 38,763 shares were traded during trading, a decline of 84% from the average daily volume of 239,837 shares. The stock had previously closed at $34.82.

Analyst Upgrades and Downgrades

Separately, Williams Trading boosted their price target on shares of Shoe Carnival from $42.00 to $51.00 and gave the company a “buy” rating in a research report on Thursday, August 29th.

Shoe Carnival Price Performance

The business’s fifty day moving average price is $39.29 and its 200-day moving average price is $38.74. The stock has a market capitalization of $919.16 million, a PE ratio of 12.35 and a beta of 1.56.

Shoe Carnival (NASDAQ:SCVL) last announced its earnings results on Thursday, September 5th. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.03. The company had revenue of $332.70 million during the quarter, compared to analyst estimates of $331.45 million. Shoe Carnival had a net margin of 6.26% and a return on equity of 13.26%. The firm’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.71 earnings per share. On average, analysts expect that Shoe Carnival, Inc. will post 2.65 earnings per share for the current fiscal year.

Shoe Carnival Dividend Announcement

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. This represents a $0.54 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend was Monday, October 7th. Shoe Carnival’s dividend payout ratio is presently 19.15%.

Institutional Investors Weigh In On Shoe Carnival

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC grew its position in shares of Shoe Carnival by 8.7% in the 3rd quarter. FMR LLC now owns 4,266 shares of the company’s stock worth $187,000 after buying an additional 343 shares during the last quarter. Rhumbline Advisers boosted its stake in Shoe Carnival by 0.7% during the 2nd quarter. Rhumbline Advisers now owns 56,711 shares of the company’s stock valued at $2,092,000 after purchasing an additional 394 shares during the last quarter. SummerHaven Investment Management LLC increased its holdings in shares of Shoe Carnival by 1.3% in the 2nd quarter. SummerHaven Investment Management LLC now owns 31,550 shares of the company’s stock worth $1,164,000 after purchasing an additional 402 shares in the last quarter. Sei Investments Co. raised its stake in shares of Shoe Carnival by 1.1% in the second quarter. Sei Investments Co. now owns 52,816 shares of the company’s stock worth $1,948,000 after purchasing an additional 595 shares during the last quarter. Finally, EMC Capital Management lifted 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 valued at $274,000 after purchasing an additional 793 shares in the last quarter. 66.05% of the stock is currently 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.