Shoe Carnival (NASDAQ:SCVL) Share Price Crosses Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Shoe Carnival’s stock crossed above its 200-day moving average, trading as high as $18.80 and last at $18.43 versus the 200-day MA of $18.40 on volume of 239,683 shares.
• Analysts have a consensus rating of “Moderate Buy” with an average price target of $22.00; the company trades at a P/E of 9.7 and has a market cap of about $506 million.
• Shoe Carnival raised its quarterly dividend to $0.17 (annualized $0.68, ~3.7% yield), and CFO W. Kerry Jackson bought 31,000 shares at $16.13, boosting insider ownership to roughly 35.5%.

Shoe Carnival, Inc. (NASDAQ:SCVL - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $18.40 and traded as high as $18.80. Shoe Carnival shares last traded at $18.43, with a volume of 239,683 shares traded.

Wall Street Analysts Forecast Growth

SCVL has been the subject of a number of research analyst reports. Williams Trading set a $22.00 price target on shares of Shoe Carnival in a research note on Thursday, February 26th. Weiss Ratings reissued a "hold (c-)" rating on shares of Shoe Carnival in a research note on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, Shoe Carnival has a consensus rating of "Moderate Buy" and an average price target of $22.00.

Shoe Carnival Price Performance

The stock's fifty day moving average price is $18.23 and its 200-day moving average price is $18.40. The firm has a market cap of $506.27 million, a price-to-earnings ratio of 9.70 and a beta of 1.44.

Shoe Carnival (NASDAQ:SCVL - Get Free Report) last released its quarterly earnings results on Thursday, March 26th. The company reported $0.33 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.33. Shoe Carnival had a net margin of 4.60% and a return on equity of 7.75%. The business had revenue of $254.07 million for the quarter, compared to analyst estimates of $255.83 million. During the same quarter in the previous year, the business earned $0.54 earnings per share. The firm's revenue was down 3.3% compared to the same quarter last year. As a group, equities research analysts predict that Shoe Carnival, Inc. will post 1.5 EPS for the current fiscal year.

Shoe Carnival Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 20th. Shareholders of record on Monday, April 6th were paid a $0.17 dividend. The ex-dividend date was Monday, April 6th. This represents a $0.68 annualized dividend and a yield of 3.7%. This is a boost from Shoe Carnival's previous quarterly dividend of $0.15. Shoe Carnival's dividend payout ratio (DPR) is currently 35.79%.

Insiders Place Their Bets

In related news, CFO W Kerry Jackson acquired 31,000 shares of the company's stock in a transaction on Thursday, April 2nd. The shares were purchased at an average price of $16.13 per share, for a total transaction of $500,030.00. Following the purchase, the chief financial officer owned 215,529 shares in the company, valued at $3,476,482.77. This represents a 16.80% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 35.50% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of SCVL. Global Retirement Partners LLC acquired a new position in shares of Shoe Carnival during the 4th quarter worth $28,000. Huntington National Bank boosted its holdings in shares of Shoe Carnival by 164.8% during the 3rd quarter. Huntington National Bank now owns 1,491 shares of the company's stock worth $31,000 after buying an additional 928 shares during the period. Hantz Financial Services Inc. boosted its holdings in shares of Shoe Carnival by 305.0% during the 3rd quarter. Hantz Financial Services Inc. now owns 2,029 shares of the company's stock worth $42,000 after buying an additional 1,528 shares during the period. Kestra Advisory Services LLC bought a new stake in shares of Shoe Carnival during the 4th quarter worth $44,000. Finally, Los Angeles Capital Management LLC bought a new stake in shares of Shoe Carnival during the 4th quarter worth $86,000. Institutional investors and hedge funds own 66.05% of the company's stock.

Shoe Carnival Company Profile

Shoe Carnival, Inc NASDAQ: SCVL is a U.S.-based specialty retailer offering a broad assortment of footwear, apparel and accessories for the entire family. Through its network of brick-and-mortar stores and e-commerce platform, the company provides casual, athletic and dress shoes for men, women and children, as well as complementary apparel, handbags, socks and other accessories designed to deliver value and variety. Its distinctive in-store carnival host service model aims to create an engaging shopping experience and foster customer loyalty.

Founded in 1978 and headquartered in Evansville, Indiana, Shoe Carnival has expanded over four decades to operate more than 350 retail locations across over 30 states.

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