Shoe Carnival, Inc. (NASDAQ:SCVL) Announces $0.17 Quarterly Dividend

Shoe Carnival, Inc. (NASDAQ:SCVL) announced a quarterly dividend on Thursday, June 11th. Stockholders of record on Monday, July 6th will be given a dividend of 0.17 per share on Monday, July 20th. This represents a c) dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Monday, July 6th.

Shoe Carnival has raised its dividend by an average of 0.3%per year over the last three years and has increased its dividend annually for the last 14 consecutive years. Shoe Carnival has a dividend payout ratio of 35.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Shoe Carnival to earn $1.86 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 36.6%.

Shoe Carnival Stock Up 4.7%

Shares of SCVL stock traded up $0.78 on Thursday, reaching $17.43. 965,206 shares of the stock were exchanged, compared to its average volume of 440,426. The stock has a market cap of $473.24 million, a P/E ratio of 12.91 and a beta of 1.41. The firm has a 50 day moving average of $17.24 and a two-hundred day moving average of $18.14. Shoe Carnival has a 1-year low of $14.91 and a 1-year high of $26.57.

Shoe Carnival (NASDAQ:SCVL) last released its quarterly earnings data on Thursday, May 21st. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. The business had revenue of $270.73 million during the quarter, compared to the consensus estimate of $268.73 million. Shoe Carnival had a return on equity of 7.24% and a net margin of 3.31%.The business’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.34 EPS. On average, equities research analysts predict that Shoe Carnival will post 1.5 EPS for the current fiscal year.

Insider Transactions at Shoe Carnival

In related news, CFO W Kerry Jackson purchased 31,000 shares of the stock in a transaction that occurred on Thursday, April 2nd. The stock was purchased at an average cost of $16.13 per share, for a total transaction of $500,030.00. Following the acquisition, the chief financial officer owned 215,529 shares in the company, valued at approximately $3,476,482.77. This trade represents a 16.80% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 33.60% of the company’s stock.

Institutional Trading of Shoe Carnival

Large investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada increased its position in shares of Shoe Carnival by 13.0% during the first quarter. Royal Bank of Canada now owns 80,923 shares of the company’s stock worth $1,779,000 after acquiring an additional 9,298 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Shoe Carnival by 367.2% during the first quarter. AQR Capital Management LLC now owns 52,303 shares of the company’s stock worth $1,150,000 after acquiring an additional 41,108 shares during the last quarter. Millennium Management LLC increased its position in shares of Shoe Carnival by 215.9% during the first quarter. Millennium Management LLC now owns 321,764 shares of the company’s stock worth $7,076,000 after acquiring an additional 219,918 shares during the last quarter. Empowered Funds LLC increased its position in shares of Shoe Carnival by 3.0% during the first quarter. Empowered Funds LLC now owns 140,151 shares of the company’s stock worth $3,082,000 after acquiring an additional 4,108 shares during the last quarter. Finally, Legal & General Group Plc increased its position in shares of Shoe Carnival by 4.5% during the second quarter. Legal & General Group Plc now owns 46,758 shares of the company’s stock worth $875,000 after acquiring an additional 1,998 shares during the last quarter. 66.05% of the stock is currently owned by institutional investors and hedge funds.

About Shoe Carnival

Shoe Carnival, Inc (NASDAQ: SCVL) is a U.S.-based specialty retailer offering a broad assortment of footwear, apparel and accessories for the entire family. Through its network of brick-and-mortar stores and e-commerce platform, the company provides casual, athletic and dress shoes for men, women and children, as well as complementary apparel, handbags, socks and other accessories designed to deliver value and variety. Its distinctive in-store carnival host service model aims to create an engaging shopping experience and foster customer loyalty.

Founded in 1978 and headquartered in Evansville, Indiana, Shoe Carnival has expanded over four decades to operate more than 350 retail locations across over 30 states.