Shoe Carnival, Inc. (NASDAQ:SCVL) Plans Quarterly Dividend of $0.15

Shoe Carnival, Inc. (NASDAQ:SCVL - Get Free Report) announced a quarterly dividend on Wednesday, June 25th, RTT News reports. Shareholders of record on Monday, July 7th will be paid a dividend of 0.15 per share on Monday, July 21st. This represents a $0.60 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date of this dividend is Monday, July 7th.

Shoe Carnival has a dividend payout ratio of 30.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Shoe Carnival to earn $2.93 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 20.5%.

Shoe Carnival Price Performance

Shares of NASDAQ:SCVL traded up $0.33 during mid-day trading on Thursday, reaching $21.41. 195,218 shares of the company traded hands, compared to its average volume of 427,062. The company's 50 day moving average price is $19.10 and its 200-day moving average price is $23.24. The firm has a market cap of $585.35 million, a PE ratio of 8.96 and a beta of 1.37. Shoe Carnival has a 52 week low of $16.14 and a 52 week high of $46.92.

Shoe Carnival (NASDAQ:SCVL - Get Free Report) last issued its quarterly earnings results on Friday, May 30th. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.04. The business had revenue of $277.72 million for the quarter, compared to the consensus estimate of $285.16 million. Shoe Carnival had a net margin of 5.58% and a return on equity of 10.43%. The company's revenue for the quarter was down 7.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.64 earnings per share. On average, research analysts predict that Shoe Carnival will post 2.6 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Shoe Carnival

A number of institutional investors have recently bought and sold shares of SCVL. Millennium Management LLC lifted its position in shares of Shoe Carnival by 215.9% in the first quarter. Millennium Management LLC now owns 321,764 shares of the company's stock valued at $7,076,000 after acquiring an additional 219,918 shares in the last quarter. AQR Capital Management LLC raised its stake in Shoe Carnival by 367.2% during the 1st quarter. AQR Capital Management LLC now owns 52,303 shares of the company's stock valued at $1,150,000 after purchasing an additional 41,108 shares during the period. Royal Bank of Canada raised its stake in Shoe Carnival by 13.0% during the 1st quarter. Royal Bank of Canada now owns 80,923 shares of the company's stock valued at $1,779,000 after purchasing an additional 9,298 shares during the period. Finally, Empowered Funds LLC lifted its holdings in Shoe Carnival by 3.0% in the 1st quarter. Empowered Funds LLC now owns 140,151 shares of the company's stock worth $3,082,000 after purchasing an additional 4,108 shares in 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.