Shoe Carnival (NASDAQ:SCVL) Trading 4.6% Higher After Strong Earnings

Shoe Carnival, Inc. (NASDAQ:SCVL - Get Free Report)'s share price traded up 4.6% on Friday following a stronger than expected earnings report. The stock traded as high as $19.47 and last traded at $19.28. 183,609 shares changed hands during trading, a decline of 54% from the average session volume of 397,526 shares. The stock had previously closed at $18.44.

The company reported $0.34 earnings per share for the quarter, topping analysts' consensus estimates of $0.30 by $0.04. The business had revenue of $277.72 million during the quarter, compared to the consensus estimate of $285.16 million. Shoe Carnival had a net margin of 6.12% and a return on equity of 12.52%. Shoe Carnival's quarterly revenue was down 7.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.64 earnings per share.

Shoe Carnival Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Monday, April 7th were given a $0.15 dividend. The ex-dividend date of this dividend was Monday, April 7th. This is a positive change from Shoe Carnival's previous quarterly dividend of $0.14. This represents a $0.60 annualized dividend and a dividend yield of 3.06%. Shoe Carnival's dividend payout ratio (DPR) is 25.10%.

Institutional Investors Weigh In On Shoe Carnival

Several institutional investors and hedge funds have recently made changes to their positions in the business. Copeland Capital Management LLC increased its holdings in Shoe Carnival by 16.2% in the first quarter. Copeland Capital Management LLC now owns 1,399,330 shares of the company's stock worth $30,771,000 after purchasing an additional 194,887 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Shoe Carnival by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 1,397,109 shares of the company's stock worth $46,216,000 after buying an additional 8,826 shares during the period. Invesco Ltd. grew its position in shares of Shoe Carnival by 10.1% during the 4th quarter. Invesco Ltd. now owns 880,047 shares of the company's stock worth $29,112,000 after buying an additional 80,871 shares during the period. New South Capital Management Inc. increased its stake in shares of Shoe Carnival by 189.9% in the 1st quarter. New South Capital Management Inc. now owns 699,824 shares of the company's stock valued at $15,389,000 after acquiring an additional 458,412 shares in the last quarter. Finally, Hodges Capital Management Inc. lifted its position in shares of Shoe Carnival by 20.0% during the 4th quarter. Hodges Capital Management Inc. now owns 581,508 shares of the company's stock valued at $19,236,000 after acquiring an additional 96,753 shares during the period. Institutional investors own 66.05% of the company's stock.

Shoe Carnival Stock Up 1.3%

The firm has a market capitalization of $535.16 million, a P/E ratio of 7.20 and a beta of 1.41. The company's 50 day moving average is $19.03 and its 200-day moving average is $25.35.

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.