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

Shoe Carnival, Inc. (NASDAQ:SCVL) dropped 3.8% during trading on Tuesday . The stock 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 Ratings Changes

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

Shoe Carnival Price Performance

The company has a market cap of $919.16 million, a P/E ratio of 12.35 and a beta of 1.56. The stock has a fifty day moving average price of $39.29 and a two-hundred day moving average price of $38.74.

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

Shoe Carnival Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Monday, October 7th were given a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date of this dividend was Monday, October 7th. Shoe Carnival’s payout ratio is 19.15%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SCVL. Innealta Capital LLC bought a new position in Shoe Carnival during the second quarter valued at about $41,000. Harvest Fund Management Co. Ltd purchased a new stake in shares of Shoe Carnival during the 3rd quarter worth approximately $62,000. Quarry LP purchased a new position in Shoe Carnival in the third quarter valued at approximately $66,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Shoe Carnival during the third quarter valued at $76,000. Finally, FMR LLC increased its position in Shoe Carnival by 8.7% in the third 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. Institutional investors own 66.05% of the company’s stock.

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.