Wayne J. Weaver Buys 285,500 Shares of Shoe Carnival, Inc. (NASDAQ:SCVL) Stock

Shoe Carnival, Inc. (NASDAQ:SCVL) Chairman Wayne J. Weaver acquired 285,500 shares of the business’s stock in a transaction dated Friday, December 6th. The shares were acquired at an average cost of $33.91 per share, with a total value of $9,681,305.00. Following the acquisition, the chairman now directly owns 4,173,529 shares of the company’s stock, valued at $141,524,368.39. This represents a 7.34 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Shoe Carnival Stock Up 4.4 %

Shares of SCVL opened at $35.69 on Wednesday. The firm has a market cap of $969.70 million, a P/E ratio of 13.12 and a beta of 1.53. The stock has a 50 day simple moving average of $36.44 and a two-hundred day simple moving average of $38.62. The company has a debt-to-equity ratio of 0.50, a current ratio of 3.88 and a quick ratio of 0.89. Shoe Carnival, Inc. has a 1 year low of $24.94 and a 1 year high of $46.92.

Shoe Carnival (NASDAQ:SCVL) last announced its quarterly earnings data on Thursday, November 21st. The company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.01. Shoe Carnival had a return on equity of 12.52% and a net margin of 6.12%. The firm had revenue of $306.90 million during the quarter, compared to the consensus estimate of $316.97 million. During the same quarter in the previous year, the company posted $0.80 earnings per share. The business’s revenue was down 4.1% on a year-over-year basis. On average, analysts forecast that Shoe Carnival, Inc. will post 2.6 earnings per share for the current fiscal year.

Shoe Carnival Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Monday, October 7th were given a $0.135 dividend. The ex-dividend date of this dividend was Monday, October 7th. This represents a $0.54 annualized dividend and a yield of 1.51%. Shoe Carnival’s payout ratio is currently 19.85%.

Analysts Set New Price Targets

SCVL has been the subject of several recent analyst reports. StockNews.com raised Shoe Carnival from a “sell” rating to a “hold” rating in a report on Saturday, November 30th. Williams Trading upped their target price on Shoe Carnival from $42.00 to $51.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th.

Institutional Trading of Shoe Carnival

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Pacer Advisors Inc. bought a new stake in Shoe Carnival in the third quarter valued at approximately $37,440,000. State Street Corp raised its holdings in shares of 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 raised its holdings in shares of Shoe Carnival by 2.4% during the third quarter. Geode Capital Management LLC now owns 452,548 shares of the company’s stock valued at $19,848,000 after acquiring an additional 10,761 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Shoe Carnival by 34.7% during the second quarter. American Century Companies Inc. now owns 410,355 shares of the company’s stock valued at $15,138,000 after acquiring an additional 105,818 shares in the last quarter. Finally, Foundry Partners LLC raised its holdings in shares of Shoe Carnival by 0.6% during the third quarter. Foundry Partners LLC now owns 149,735 shares of the company’s stock valued at $6,566,000 after acquiring an additional 940 shares in the last quarter. Institutional investors 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.