Shoe Carnival (NASDAQ:SCVL) Upgraded by StockNews.com to “Hold” Rating

StockNews.com upgraded shares of Shoe Carnival (NASDAQ:SCVL) from a sell rating to a hold rating in a report released on Saturday.

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

Shoe Carnival Price Performance

NASDAQ SCVL opened at $33.76 on Friday. The company has a 50-day moving average price of $37.74 and a two-hundred day moving average price of $38.61. The stock has a market cap of $917.39 million, a price-to-earnings ratio of 12.41 and a beta of 1.56. The company has a current ratio of 3.88, a quick ratio of 0.89 and a debt-to-equity ratio of 0.50. Shoe Carnival has a 52 week low of $24.07 and a 52 week high of $46.92.

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

Shoe Carnival Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Monday, October 7th were paid a dividend of $0.135 per share. The ex-dividend date of this dividend was Monday, October 7th. This represents a $0.54 annualized dividend and a yield of 1.60%. Shoe Carnival’s dividend payout ratio is currently 19.85%.

Institutional Investors Weigh In On Shoe Carnival

Several hedge funds and other institutional investors have recently bought and sold shares of SCVL. Pacer Advisors Inc. acquired a new position in shares of Shoe Carnival in the 3rd quarter worth approximately $37,440,000. State Street Corp lifted 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 purchasing an additional 17,086 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Shoe Carnival by 2.4% during the third quarter. Geode Capital Management LLC now owns 452,548 shares of the company’s stock worth $19,848,000 after buying an additional 10,761 shares in the last quarter. American Century Companies Inc. grew its position in Shoe Carnival by 34.7% in the second quarter. American Century Companies Inc. now owns 410,355 shares of the company’s stock worth $15,138,000 after buying an additional 105,818 shares during the last quarter. Finally, Foundry Partners LLC increased its holdings in shares of Shoe Carnival by 0.6% in the third quarter. Foundry Partners LLC now owns 149,735 shares of the company’s stock valued at $6,566,000 after buying an additional 940 shares in the last quarter. 66.05% of the stock is currently owned by institutional investors.

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.