Shoe Carnival (NASDAQ:SCVL) Stock Price Up 6.6% – Here’s Why

Shares of Shoe Carnival, Inc. (NASDAQ:SCVL) rose 6.6% during trading on Monday . The stock traded as high as $36.25 and last traded at $36.15. Approximately 64,717 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 246,432 shares. The stock had previously closed at $33.90.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. StockNews.com downgraded shares of Shoe Carnival from a “hold” rating to a “sell” rating in a research report on Friday, November 22nd. Williams Trading increased their price objective on Shoe Carnival from $42.00 to $51.00 and gave the company a “buy” rating in a report on Thursday, August 29th.

Shoe Carnival Stock Up 0.2 %

The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.89 and a current ratio of 3.88. The firm has a market capitalization of $913.18 million, a P/E ratio of 12.33 and a beta of 1.56. The stock has a 50 day moving average of $38.44 and a 200-day moving average of $38.69.

Shoe Carnival (NASDAQ:SCVL) last posted its quarterly earnings results on Thursday, September 5th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.03. Shoe Carnival had a net margin of 6.12% and a return on equity of 12.52%. The company had revenue of $332.70 million for the quarter, compared to analyst estimates of $331.45 million. During the same quarter in the previous year, the firm posted $0.71 earnings per share. The company’s quarterly revenue was up 12.9% compared to the same quarter last year. Research analysts predict that Shoe Carnival, Inc. will post 2.6 earnings per share for the current fiscal year.

Shoe Carnival Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Monday, October 7th were issued a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date was Monday, October 7th. Shoe Carnival’s payout ratio is currently 19.85%.

Institutional Trading of Shoe Carnival

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Pacer Advisors Inc. purchased a new position in Shoe Carnival during the 3rd quarter valued at about $37,440,000. State Street Corp grew its stake in Shoe Carnival by 2.2% during the third quarter. State Street Corp now owns 793,318 shares of the company’s stock valued at $34,787,000 after acquiring an additional 17,086 shares in the last quarter. Geode Capital Management LLC increased its holdings in Shoe Carnival by 2.4% during the 3rd quarter. Geode Capital Management LLC now owns 452,548 shares of the company’s stock worth $19,848,000 after acquiring an additional 10,761 shares during the period. American Century Companies Inc. lifted its stake in Shoe Carnival by 34.7% in the 2nd quarter. American Century Companies Inc. now owns 410,355 shares of the company’s stock worth $15,138,000 after purchasing an additional 105,818 shares in the last quarter. Finally, Foundry Partners LLC boosted its holdings in Shoe Carnival by 0.6% in the 3rd quarter. Foundry Partners LLC now owns 149,735 shares of the company’s stock valued at $6,566,000 after purchasing an additional 940 shares during the period. 66.05% of the stock is currently owned by institutional investors.

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.