Shoe Carnival (NASDAQ:SHOE) Shares Pass Above Two Hundred Day Moving Average – Time to Sell?

Shoe Carnival, Inc. (NASDAQ:SHOE) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $0.00 and traded as high as $15.72. Shoe Carnival shares last traded at $15.61, with a volume of 372,899 shares traded.

Analyst Upgrades and Downgrades

SHOE has been the subject of several recent research reports. Zacks Research downgraded Shoe Carnival from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 12th. Weiss Ratings began coverage on shares of Shoe Carnival in a research note on Monday, June 15th. They set a “hold (c-)” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $22.00.

Shoe Carnival Stock Performance

The firm has a market cap of $423.81 million, a P/E ratio of 11.56 and a beta of 1.43.

Shoe Carnival (NASDAQ:SHOE) 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 for the quarter. Shoe Carnival had a return on equity of 7.24% and a net margin of 3.31%. On average, research analysts expect that Shoe Carnival, Inc. will post 1.5 earnings per share for the current year.

Shoe Carnival Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 20th. Shareholders of record on Monday, July 6th were paid 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 4.4%. Shoe Carnival’s payout ratio is 50.37%.

Institutional Trading of Shoe Carnival

Large investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada raised its holdings in shares of Shoe Carnival by 13.0% during the 1st quarter. Royal Bank of Canada now owns 80,923 shares of the company’s stock worth $1,779,000 after acquiring an additional 9,298 shares during the period. AQR Capital Management LLC grew its holdings in shares of Shoe Carnival by 367.2% in the first quarter. AQR Capital Management LLC now owns 52,303 shares of the company’s stock valued at $1,150,000 after purchasing an additional 41,108 shares during the period. Millennium Management LLC increased its position in Shoe Carnival by 215.9% during the first quarter. Millennium Management LLC now owns 321,764 shares of the company’s stock worth $7,076,000 after purchasing an additional 219,918 shares during the last quarter. Empowered Funds LLC increased its position in Shoe Carnival by 3.0% during the first 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 last quarter. Finally, Legal & General Group Plc increased its position in Shoe Carnival by 4.5% during the second quarter. Legal & General Group Plc now owns 46,758 shares of the company’s stock worth $875,000 after purchasing an additional 1,998 shares during the last quarter. 66.05% of the stock is currently owned by hedge funds and other institutional investors.

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.