Shoe Carnival (NASDAQ:SHOE) Shares Cross Above 200 Day Moving Average - Should You Sell?

Key Points

• Shoe Carnival shares moved above their 200-day moving average, reaching $15.99 before closing near $15.86 on trading volume of about 503,000 shares.
• Analyst sentiment is mixed: Zacks Research downgraded the stock to “hold,” while the broader consensus remains “Moderate Buy” with a $22.00 price target.
• The company reported quarterly EPS of $0.23 on $270.73 million in revenue and pays a quarterly dividend of $0.17 per share, representing an annualized yield of approximately 4.3%.

Shoe Carnival, Inc. (NASDAQ:SHOE - Get Free Report)'s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $0.00 and traded as high as $15.99. Shoe Carnival shares last traded at $15.86, with a volume of 503,473 shares.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on SHOE shares. Zacks Research downgraded shares of Shoe Carnival from a "strong-buy" rating to a "hold" rating in a report on Friday, June 12th. Weiss Ratings began coverage on shares of Shoe Carnival in a report on Monday, June 15th. They issued a "hold (c-)" rating on the stock. One investment analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $22.00.

Shoe Carnival Price Performance

The company has a market cap of $430.60 million, a price-to-earnings ratio of 11.75 and a beta of 1.43.

Shoe Carnival (NASDAQ:SHOE - Get Free Report) last issued its quarterly earnings results on Thursday, May 21st. The company reported $0.23 EPS for the quarter. Shoe Carnival had a return on equity of 7.24% and a net margin of 3.31%.The company had revenue of $270.73 million for the quarter. As a group, equities analysts forecast that Shoe Carnival, Inc. will post 1.5 earnings per share for the current year.

Shoe Carnival Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 20th. Investors of record on Monday, July 6th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, July 6th. This represents a $0.68 dividend on an annualized basis and a yield of 4.3%. Shoe Carnival's payout ratio is 50.37%.

Hedge Funds Weigh In On Shoe Carnival

Several large investors have recently bought and sold shares of the stock. Global Retirement Partners LLC acquired a new stake in Shoe Carnival in the 4th quarter worth $28,000. Huntington National Bank increased its holdings in shares of Shoe Carnival by 45.5% during the 4th quarter. Huntington National Bank now owns 2,169 shares of the company's stock worth $37,000 after purchasing an additional 678 shares during the period. Kestra Advisory Services LLC acquired a new position in shares of Shoe Carnival during the fourth quarter valued at about $44,000. Los Angeles Capital Management LLC acquired a new position in shares of Shoe Carnival during the fourth quarter valued at about $86,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Shoe Carnival by 66.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,005 shares of the company's stock valued at $146,000 after buying an additional 2,809 shares during the last quarter. 66.05% of the stock is currently owned by institutional investors and hedge funds.

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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