Shoe Carnival (NASDAQ:SCVL) Hits New 12-Month High at $46.49

Shoe Carnival, Inc. (NASDAQ:SCVL) hit a new 52-week high on Wednesday . The company traded as high as $46.49 and last traded at $46.05, with a volume of 165297 shares traded. The stock had previously closed at $43.90.

Analyst Upgrades and Downgrades

Separately, Williams Trading raised their price objective on Shoe Carnival from $42.00 to $51.00 and gave the company a “buy” rating in a research report on Thursday, August 29th.

Shoe Carnival Stock Performance

The company has a 50 day moving average of $40.71 and a two-hundred day moving average of $37.09. The stock has a market capitalization of $1.22 billion, a PE ratio of 16.20 and a beta of 1.53.

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

Shoe Carnival Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 22nd. Investors of record on Monday, July 8th were given a $0.135 dividend. This represents a $0.54 annualized dividend and a dividend yield of 1.20%. The ex-dividend date was Monday, July 8th. Shoe Carnival’s payout ratio is 19.93%.

Institutional Trading of Shoe Carnival

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SCVL. American Century Companies Inc. raised its stake in shares of 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 purchasing an additional 105,818 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position 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 buying an additional 20,941 shares during the last quarter. Wasatch Advisors LP lifted its stake in Shoe Carnival by 22.2% during the 4th quarter. Wasatch Advisors LP now owns 295,412 shares of the company’s stock valued at $8,924,000 after acquiring an additional 53,702 shares during the period. Soviero Asset Management LP boosted its holdings in shares of Shoe Carnival by 244.3% in the 4th quarter. Soviero Asset Management LP now owns 241,000 shares of the company’s stock valued at $7,281,000 after acquiring an additional 171,000 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Shoe Carnival by 16.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 190,953 shares of the company’s stock worth $6,997,000 after acquiring an additional 27,404 shares during the period. Institutional investors and hedge funds 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.