Shoe Carnival (NASDAQ:SCVL) Share Price Passes Above Two Hundred Day Moving Average of $28.57

Shoe Carnival, Inc. (NASDAQ:SCVL - Get Free Report) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $28.57 and traded as high as $35.06. Shoe Carnival shares last traded at $34.17, with a volume of 128,906 shares traded.

Analysts Set New Price Targets

A number of brokerages have weighed in on SCVL. Williams Trading upgraded shares of Shoe Carnival from a "hold" rating to a "buy" rating and set a $40.00 target price for the company in a research note on Friday, March 22nd. Monness Crespi & Hardt lowered Shoe Carnival from a "buy" rating to a "neutral" rating in a research note on Tuesday, March 19th.

Shoe Carnival Price Performance

The stock has a market cap of $906.22 million, a PE ratio of 12.75 and a beta of 1.56. The stock has a 50-day moving average price of $33.32 and a two-hundred day moving average price of $28.64.

Shoe Carnival (NASDAQ:SCVL - Get Free Report) last released its quarterly earnings results on Thursday, March 21st. The company reported $0.59 EPS for the quarter, hitting the consensus estimate of $0.59. The company had revenue of $280.20 million during the quarter, compared to analyst estimates of $280.30 million. Shoe Carnival had a return on equity of 13.17% and a net margin of 6.24%. The firm's revenue was down 3.6% on a year-over-year basis. During the same quarter last year, the business posted $0.79 earnings per share. Equities research analysts expect that Shoe Carnival, Inc. will post 2.65 earnings per share for the current year.

Shoe Carnival Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 22nd. Shareholders of record on Monday, April 8th were paid a $0.135 dividend. The ex-dividend date of this dividend was Friday, April 5th. This represents a $0.54 annualized dividend and a yield of 1.61%. This is an increase from Shoe Carnival's previous quarterly dividend of $0.12. Shoe Carnival's dividend payout ratio (DPR) is presently 20.15%.

Insider Activity

In related news, EVP Carl N. Scibetta sold 5,415 shares of the business's stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $35.45, for a total value of $191,961.75. Following the completion of the transaction, the executive vice president now owns 118,077 shares of the company's stock, valued at $4,185,829.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Shoe Carnival news, EVP Carl N. Scibetta sold 5,415 shares of Shoe Carnival stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $35.45, for a total value of $191,961.75. Following the transaction, the executive vice president now directly owns 118,077 shares of the company's stock, valued at $4,185,829.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Andrea R. Guthrie sold 2,467 shares of the business's stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $32.46, for a total transaction of $80,078.82. Following the sale, the director now directly owns 20,106 shares in the company, valued at $652,640.76. The disclosure for this sale can be found here. Insiders own 34.50% of the company's stock.

Institutional Investors Weigh In On Shoe Carnival

A number of hedge funds have recently bought and sold shares of SCVL. Tectonic Advisors LLC grew its stake in Shoe Carnival by 53.0% during the 3rd quarter. Tectonic Advisors LLC now owns 58,003 shares of the company's stock worth $1,394,000 after buying an additional 20,085 shares during the last quarter. New South Capital Management Inc. boosted its stake in shares of Shoe Carnival by 47.2% in the third quarter. New South Capital Management Inc. now owns 884,155 shares of the company's stock valued at $21,246,000 after buying an additional 283,408 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Shoe Carnival by 6.6% in the third quarter. Bank of New York Mellon Corp now owns 280,640 shares of the company's stock valued at $6,744,000 after buying an additional 17,487 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Shoe Carnival by 98.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,072 shares of the company's stock valued at $122,000 after buying an additional 2,512 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of Shoe Carnival by 3.3% during the third quarter. Principal Financial Group Inc. now owns 104,470 shares of the company's stock valued at $2,510,000 after acquiring an additional 3,377 shares during the last quarter. Institutional investors and hedge funds 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.