Shoe Carnival (NASDAQ:SCVL) Shares Pass Above 200 Day Moving Average – What’s Next?

Shoe Carnival, Inc. (NASDAQ:SCVL)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $18.40 and traded as high as $18.80. Shoe Carnival shares last traded at $18.43, with a volume of 239,683 shares changing hands.

Analyst Ratings Changes

A number of research analysts have weighed in on SCVL shares. Williams Trading set a $22.00 target price on Shoe Carnival in a report on Thursday, February 26th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Shoe Carnival in a report on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Shoe Carnival presently has a consensus rating of “Moderate Buy” and an average target price of $22.00.

Shoe Carnival Stock Performance

The stock has a market cap of $506.27 million, a P/E ratio of 9.70 and a beta of 1.44. The stock has a 50-day moving average price of $18.23 and a 200-day moving average price of $18.39.

Shoe Carnival (NASDAQ:SCVL) last issued its quarterly earnings results on Thursday, March 26th. The company reported $0.33 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.33. The firm had revenue of $254.07 million during the quarter, compared to the consensus estimate of $255.83 million. Shoe Carnival had a return on equity of 7.75% and a net margin of 4.60%.The company’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same quarter last year, the company posted $0.54 EPS. Sell-side analysts forecast that Shoe Carnival, Inc. will post 1.5 earnings per share for the current fiscal year.

Shoe Carnival Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 20th. Stockholders of record on Monday, April 6th were given a dividend of $0.17 per share. This is a boost from Shoe Carnival’s previous quarterly dividend of $0.15. The ex-dividend date was Monday, April 6th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.7%. Shoe Carnival’s dividend payout ratio is 35.79%.

Insider Activity

In other Shoe Carnival news, CFO W Kerry Jackson purchased 31,000 shares of the company’s stock in a transaction dated Thursday, April 2nd. The stock was purchased at an average price of $16.13 per share, for a total transaction of $500,030.00. Following the transaction, the chief financial officer owned 215,529 shares in the company, valued at $3,476,482.77. The trade was a 16.80% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 35.50% of the company’s stock.

Hedge Funds Weigh In On Shoe Carnival

A number of large investors have recently modified their holdings of the company. New South Capital Management Inc. raised its holdings in shares of Shoe Carnival by 10.3% during the 4th quarter. New South Capital Management Inc. now owns 744,519 shares of the company’s stock valued at $12,567,000 after buying an additional 69,474 shares in the last quarter. Royce & Associates LP raised its holdings in shares of Shoe Carnival by 38.6% during the 4th quarter. Royce & Associates LP now owns 577,201 shares of the company’s stock valued at $9,743,000 after buying an additional 160,747 shares in the last quarter. Hodges Capital Management Inc. raised its holdings in shares of Shoe Carnival by 2.3% during the 4th quarter. Hodges Capital Management Inc. now owns 454,404 shares of the company’s stock valued at $7,670,000 after buying an additional 10,102 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Shoe Carnival by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 448,424 shares of the company’s stock valued at $7,570,000 after buying an additional 4,859 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Shoe Carnival by 24.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 441,679 shares of the company’s stock valued at $7,456,000 after buying an additional 86,075 shares in the last quarter. 66.05% of the stock is owned by hedge funds and other institutional investors.

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.