Shoe Carnival (NASDAQ:SHOE) Stock Price Crosses Above 200-Day Moving Average - Should You Sell?

Key Points

• Shoe Carnival shares rose 2.6% and moved above their 200-day moving average, trading as high as $14.92 and last changing hands at $14.86. The move came on volume of 680,641 shares.
• Analyst sentiment is mixed but generally cautious: Zacks downgraded the stock to hold, Weiss Ratings initiated coverage at hold (c-), and the consensus rating remains Moderate Buy with a $22 price target.
• The company recently reported Q1 earnings of $0.23 per share on revenue of $270.73 million and paid a quarterly dividend of $0.17 per share, implying a 4.6% yield.

Shoe Carnival, Inc. (NASDAQ:SHOE - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $0.00 and traded as high as $14.92. Shoe Carnival shares last traded at $14.86, with a volume of 680,641 shares.

Analyst Ratings Changes

Several equities research analysts recently weighed in on SHOE shares. Zacks Research downgraded shares of Shoe Carnival from a "strong-buy" rating to a "hold" rating in a research report on Friday, June 12th. Weiss Ratings started coverage on Shoe Carnival in a research 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 assigned a Hold rating to the company's stock. Based on data from MarketBeat, Shoe Carnival has an average rating of "Moderate Buy" and a consensus target price of $22.00.

Shoe Carnival Stock Up 2.6%

The firm has a market capitalization of $403.45 million, a P/E ratio of 11.01 and a beta of 1.43.

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

Shoe Carnival Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 20th. Stockholders of record on Monday, July 6th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 4.6%. The ex-dividend date of this dividend was Monday, July 6th. Shoe Carnival's payout ratio is presently 50.37%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SHOE. Royal Bank of Canada grew its position in Shoe Carnival by 13.0% in the 1st quarter. Royal Bank of Canada now owns 80,923 shares of the company's stock worth $1,779,000 after purchasing an additional 9,298 shares during the period. AQR Capital Management LLC lifted its holdings in shares of 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 buying an additional 41,108 shares during the period. Millennium Management LLC boosted its stake 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 worth $7,076,000 after buying an additional 219,918 shares during the last quarter. Empowered Funds LLC boosted its stake 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 buying an additional 4,108 shares during the last quarter. Finally, Legal & General Group Plc grew its holdings in shares of Shoe Carnival by 4.5% in the second quarter. Legal & General Group Plc now owns 46,758 shares of the company's stock worth $875,000 after acquiring an additional 1,998 shares during the period. Institutional investors 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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