Shoe Carnival (NASDAQ:SCVL) Reaches New 52-Week High After Dividend Announcement

Shoe Carnival, Inc. (NASDAQ:SCVL)’s share price hit a new 52-week high during mid-day trading on Wednesday after the company announced a dividend. The company traded as high as $46.49 and last traded at $46.05, with a volume of 165297 shares trading hands. The stock had previously closed at $43.90.

The newly announced dividend which will be paid on Monday, October 21st. Stockholders of record on Monday, October 7th will be paid a dividend of $0.135 per share. The ex-dividend date of this dividend is Monday, October 7th. This represents a $0.54 annualized dividend and a dividend yield of 1.19%. Shoe Carnival’s dividend payout ratio (DPR) is currently 19.93%.

Analyst Upgrades and Downgrades

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

Shoe Carnival Stock Down 0.9 %

The stock has a fifty day moving average of $41.01 and a 200-day moving average of $37.20. The firm has a market capitalization of $1.23 billion, a P/E ratio of 16.91 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 the consensus estimate of $0.80 by $0.03. Shoe Carnival had a net margin of 6.26% and a return on equity of 13.26%. The company had revenue of $332.70 million during the quarter, compared to analysts’ expectations of $331.45 million. During the same period last year, the business earned $0.71 EPS. The business’s quarterly revenue was up 12.9% on a year-over-year basis. Sell-side analysts predict that Shoe Carnival, Inc. will post 2.65 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. grew its holdings in Shoe Carnival by 6.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 333,411 shares of the company’s stock valued at $10,072,000 after buying an additional 20,941 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of Shoe Carnival by 268.8% in the fourth quarter. BNP Paribas Financial Markets now owns 33,081 shares of the company’s stock valued at $999,000 after acquiring an additional 24,110 shares in the last quarter. Soviero Asset Management LP increased its position in Shoe Carnival by 244.3% during the fourth quarter. Soviero Asset Management LP now owns 241,000 shares of the company’s stock worth $7,281,000 after acquiring an additional 171,000 shares during the period. Wasatch Advisors LP raised its stake in Shoe Carnival by 22.2% in the 4th quarter. Wasatch Advisors LP now owns 295,412 shares of the company’s stock worth $8,924,000 after purchasing an additional 53,702 shares in the last quarter. Finally, Sebold Capital Management Inc. boosted its holdings in Shoe Carnival by 19.3% in the 1st quarter. Sebold Capital Management Inc. now owns 22,573 shares of the company’s stock valued at $827,000 after purchasing an additional 3,653 shares during the period. 66.05% of the stock is 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.