UBS AG upgraded shares of Shoe Carnival, Inc. (NASDAQ:SCVL) from a neutral rating to a positive rating in a research note published on Wednesday.

SCVL has been the topic of a number of other research reports. Zacks Investment Research cut Shoe Carnival from a buy rating to a hold rating in a report on Tuesday. Jefferies Group LLC reaffirmed a hold rating and set a $20.00 price target (down previously from $21.00) on shares of Shoe Carnival in a report on Thursday, August 31st. Susquehanna Bancshares Inc lifted their price target on Shoe Carnival from $18.00 to $19.00 and gave the company a neutral rating in a report on Thursday, August 31st. Wedbush assumed coverage on Shoe Carnival in a report on Monday, August 14th. They set an outperform rating and a $21.00 price target on the stock. Finally, BidaskClub cut Shoe Carnival from a sell rating to a strong sell rating in a report on Thursday, August 10th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. Shoe Carnival presently has an average rating of Hold and an average target price of $22.14.

Shoe Carnival (NASDAQ:SCVL) last issued its earnings results on Wednesday, August 30th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.04. Shoe Carnival had a net margin of 2.09% and a return on equity of 7.37%. The firm had revenue of $235.10 million for the quarter, compared to analysts’ expectations of $232.26 million. During the same quarter last year, the company posted $0.22 earnings per share. Shoe Carnival’s revenue was up 1.4% on a year-over-year basis.

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The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, October 2nd will be issued a dividend of $0.075 per share. The ex-dividend date of this dividend is Friday, September 29th. This represents a $0.30 annualized dividend and a yield of 1.48%. Shoe Carnival’s payout ratio is 24.79%.

Large investors have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Shoe Carnival by 5.2% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,059 shares of the company’s stock worth $100,000 after purchasing an additional 200 shares in the last quarter. JPMorgan Chase & Co. grew its position in Shoe Carnival by 482.3% in the first quarter. JPMorgan Chase & Co. now owns 7,558 shares of the company’s stock worth $186,000 after buying an additional 6,260 shares during the last quarter. Tower Research Capital LLC TRC acquired a new position in Shoe Carnival in the second quarter worth approximately $175,000. Tudor Investment Corp ET AL acquired a new position in Shoe Carnival in the first quarter worth approximately $249,000. Finally, Alliancebernstein L.P. grew its position in Shoe Carnival by 13.6% in the second quarter. Alliancebernstein L.P. now owns 10,850 shares of the company’s stock worth $227,000 after buying an additional 1,300 shares during the last quarter. 62.74% of the stock is currently owned by hedge funds and other institutional investors.

About Shoe Carnival

Shoe Carnival, Inc is a family footwear retailer. The Company’s primary activity is the sale of footwear and related products through its retail stores in approximately 30 states within the continental United States and in Puerto Rico. It also offers online shopping on its e-commerce site at www.shoecarnival.com.

Analyst Recommendations for Shoe Carnival (NASDAQ:SCVL)

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