Shoe Carnival (NASDAQ:SCVL) Shares Down 4.3%

Shoe Carnival, Inc. (NASDAQ:SCVL)’s share price traded down 4.3% during trading on Thursday . The company traded as low as $39.54 and last traded at $39.63. 50,913 shares traded hands during trading, a decline of 78% from the average session volume of 228,935 shares. The stock had previously closed at $41.43.

Wall Street Analysts Forecast Growth

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

Shoe Carnival Price Performance

The company has a market cap of $1.10 billion, a PE ratio of 14.66 and a beta of 1.53. The stock has a 50 day simple moving average of $41.70 and a two-hundred day simple moving average of $37.99.

Shoe Carnival (NASDAQ:SCVL) last issued its quarterly earnings results 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. Shoe Carnival had a net margin of 6.26% and a return on equity of 13.26%. The business had revenue of $332.70 million for the quarter, compared to analyst estimates of $331.45 million. During the same period in the previous year, the business posted $0.71 earnings per share. The business’s revenue was up 12.9% compared to the same quarter last year. As a group, equities analysts anticipate that Shoe Carnival, Inc. will post 2.65 EPS for the current fiscal year.

Shoe Carnival Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 21st. Shareholders of record on Monday, October 7th will be issued a $0.135 dividend. This represents a $0.54 annualized dividend and a yield of 1.33%. The ex-dividend date of this dividend is Monday, October 7th. Shoe Carnival’s dividend payout ratio (DPR) is 19.93%.

Hedge Funds Weigh In On Shoe Carnival

Hedge funds have recently bought and sold shares of the stock. Creative Planning purchased a new position in shares of Shoe Carnival during the second quarter valued at approximately $281,000. Millennium Management LLC lifted its stake in shares of Shoe Carnival by 726.1% in the second quarter. Millennium Management LLC now owns 101,831 shares of the company’s stock worth $3,757,000 after acquiring an additional 89,504 shares in the last quarter. Maverick Capital Ltd. raised its holdings in Shoe Carnival by 98.9% in the second quarter. Maverick Capital Ltd. now owns 56,790 shares of the company’s stock valued at $2,095,000 after acquiring an additional 28,233 shares in the last quarter. Public Sector Pension Investment Board grew its holdings in Shoe Carnival by 5.2% during the 2nd quarter. Public Sector Pension Investment Board now owns 39,420 shares of the company’s stock worth $1,454,000 after acquiring an additional 1,946 shares in the last quarter. Finally, Sei Investments Co. lifted its position in shares of Shoe Carnival by 1.1% during the second quarter. Sei Investments Co. now owns 52,816 shares of the company’s stock worth $1,948,000 after purchasing an additional 595 shares during the last quarter. Hedge funds and other institutional investors own 66.05% of the company’s stock.

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.