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

Shoe Carnival, Inc. (NASDAQ:SCVL - Get Free Report) declared a quarterly dividend on Monday, June 30th, RTT News reports. Investors 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 dividend yield of 3.12%.

Shoe Carnival has a dividend payout ratio of 30.9% indicating that its dividend is sufficiently covered by earnings. 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 Stock Performance

Shares of SCVL stock opened at $19.25 on Monday. The firm has a market cap of $526.30 million, a P/E ratio of 8.05 and a beta of 1.41. The business's 50 day moving average price is $18.94 and its 200-day moving average price is $23.38. Shoe Carnival has a fifty-two week low of $16.14 and a fifty-two week high of $46.92.

Shoe Carnival (NASDAQ:SCVL - Get Free Report) last released its quarterly earnings data on Friday, May 30th. The company reported $0.34 earnings per share for the quarter, beating analysts' consensus estimates of $0.30 by $0.04. The business had revenue of $277.72 million during the quarter, compared to analyst estimates of $285.16 million. Shoe Carnival had a net margin of 5.58% and a return on equity of 10.43%. Shoe Carnival's revenue was down 7.6% compared to the same quarter last year. During the same period last year, the business earned $0.64 EPS. As a group, equities analysts predict that Shoe Carnival will post 2.6 EPS for the current year.

Institutional Investors Weigh In On Shoe Carnival

Several large investors have recently made changes to their positions in SCVL. Millennium Management LLC lifted its holdings in shares of Shoe Carnival by 215.9% in the 1st 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 during the last quarter. AQR Capital Management LLC increased its stake in shares of Shoe Carnival by 367.2% during the first quarter. AQR Capital Management LLC now owns 52,303 shares of the company's stock valued at $1,150,000 after buying an additional 41,108 shares during the period. Royal Bank of Canada increased its position 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 position in shares of 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 during the period. 66.05% of the stock is owned by institutional investors.

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.

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