Shoe Carnival (NASDAQ:SCVL) Shares Up 3.3% Following Strong Earnings

Shares of Shoe Carnival, Inc. (NASDAQ:SCVL) rose 3.3% during mid-day trading on Thursday following a better than expected earnings announcement. The company traded as high as $36.02 and last traded at $35.52. Approximately 137,028 shares traded hands during mid-day trading, a decline of 26% from the average daily volume of 184,057 shares. The stock had previously closed at $34.40.

The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.04. The business had revenue of $300.37 million during the quarter, compared to analysts’ expectations of $292.38 million. Shoe Carnival had a net margin of 6.20% and a return on equity of 13.02%.

Shoe Carnival Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 22nd. Investors of record on Monday, April 8th were given a dividend of $0.135 per share. The ex-dividend date of this dividend was Friday, April 5th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 1.46%. This is a boost from Shoe Carnival’s previous quarterly dividend of $0.12. Shoe Carnival’s dividend payout ratio (DPR) is 19.93%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Monness Crespi & Hardt cut shares of Shoe Carnival from a “buy” rating to a “neutral” rating in a research report on Tuesday, March 19th. Williams Trading upgraded shares of Shoe Carnival from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research report on Friday, March 22nd.

Insider Activity

In other Shoe Carnival news, Director Andrea R. Guthrie sold 2,467 shares of the company’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $32.46, for a total transaction of $80,078.82. Following the sale, the director now directly owns 20,106 shares of the company’s stock, valued at $652,640.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Shoe Carnival news, EVP Carl N. Scibetta sold 5,415 shares of the stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $35.45, for a total transaction of $191,961.75. Following the sale, the executive vice president now directly owns 118,077 shares in the company, valued at $4,185,829.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Andrea R. Guthrie sold 2,467 shares of the stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $32.46, for a total transaction of $80,078.82. Following the sale, the director now owns 20,106 shares in the company, valued at $652,640.76. The disclosure for this sale can be found here. Corporate insiders own 34.70% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in shares of Shoe Carnival by 2.1% in the 3rd quarter. Vanguard Group Inc. now owns 1,308,114 shares of the company’s stock valued at $31,434,000 after acquiring an additional 26,662 shares in the last quarter. First Eagle Investment Management LLC boosted its holdings in Shoe Carnival by 14.0% during the 4th quarter. First Eagle Investment Management LLC now owns 412,144 shares of the company’s stock worth $12,451,000 after acquiring an additional 50,750 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Shoe Carnival by 6.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 333,411 shares of the company’s stock worth $10,072,000 after acquiring an additional 20,941 shares during the last quarter. Wasatch Advisors LP raised its stake in shares of Shoe Carnival by 22.2% during the 4th quarter. Wasatch Advisors LP now owns 295,412 shares of the company’s stock worth $8,924,000 after purchasing an additional 53,702 shares during the period. Finally, Meros Investment Management LP raised its stake in shares of Shoe Carnival by 20.1% during the 3rd quarter. Meros Investment Management LP now owns 287,225 shares of the company’s stock worth $6,902,000 after purchasing an additional 48,166 shares during the period. Institutional investors own 66.05% of the company’s stock.

Shoe Carnival Stock Performance

The stock has a 50 day moving average of $34.58 and a 200-day moving average of $30.05. The firm has a market capitalization of $1.01 billion, a P/E ratio of 13.68 and a beta of 1.57.

Shoe Carnival Company Profile

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.