Shoe Carnival, Inc. (NASDAQ:SCVL) Given Consensus Rating of “Hold” by Analysts

Shares of Shoe Carnival, Inc. (NASDAQ:SCVL) have been given a consensus rating of “Hold” by the three brokerages that are presently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating.

SCVL has been the subject of a number of research reports. Wall Street Zen upgraded shares of Shoe Carnival from a “sell” rating to a “hold” rating in a research report on Friday, September 26th. Weiss Ratings reissued a “hold (c-)” rating on shares of Shoe Carnival in a report on Monday. Seaport Res Ptn downgraded Shoe Carnival from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 26th. Finally, Zacks Research cut Shoe Carnival from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 25th.

Insider Transactions at Shoe Carnival

In other news, Director Andrea R. Guthrie sold 2,477 shares of the firm’s stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $20.20, for a total value of $50,035.40. Following the transaction, the director owned 24,405 shares of the company’s stock, valued at approximately $492,981. This trade represents a 9.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 35.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SCVL. Voya Investment Management LLC lifted its holdings in Shoe Carnival by 99.6% during the 1st quarter. Voya Investment Management LLC now owns 20,547 shares of the company’s stock worth $452,000 after buying an additional 10,251 shares during the last quarter. Exchange Traded Concepts LLC lifted its position in Shoe Carnival by 31.8% in the 2nd quarter. Exchange Traded Concepts LLC now owns 63,123 shares of the company’s stock valued at $1,181,000 after purchasing an additional 15,241 shares during the last quarter. Northern Trust Corp boosted its stake in Shoe Carnival by 8.5% during the 1st quarter. Northern Trust Corp now owns 550,844 shares of the company’s stock valued at $12,113,000 after purchasing an additional 43,183 shares during the period. Copeland Capital Management LLC grew its position in Shoe Carnival by 22.8% in the 2nd quarter. Copeland Capital Management LLC now owns 1,718,101 shares of the company’s stock worth $32,146,000 after purchasing an additional 318,771 shares during the last quarter. Finally, Public Employees Retirement System of Ohio grew its position in Shoe Carnival by 28.0% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 214,283 shares of the company’s stock worth $4,009,000 after purchasing an additional 46,884 shares during the last quarter. 66.05% of the stock is owned by hedge funds and other institutional investors.

Shoe Carnival Stock Performance

Shares of SCVL stock opened at $19.11 on Wednesday. The stock has a fifty day moving average price of $18.09 and a 200 day moving average price of $20.05. The stock has a market cap of $523.23 million, a PE ratio of 9.10 and a beta of 1.32. Shoe Carnival has a 1 year low of $15.21 and a 1 year high of $36.94.

Shoe Carnival (NASDAQ:SCVL) last announced its quarterly earnings results on Thursday, November 20th. The company reported $0.53 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.53. Shoe Carnival had a return on equity of 8.75% and a net margin of 5.06%.The business had revenue of $297.16 million during the quarter, compared to analysts’ expectations of $295.25 million. During the same quarter last year, the business posted $0.71 earnings per share. The business’s revenue for the quarter was down 3.2% on a year-over-year basis. Shoe Carnival has set its FY 2025 guidance at 1.800-2.100 EPS. As a group, equities research analysts predict that Shoe Carnival will post 2.6 earnings per share for the current year.

Shoe Carnival declared that its Board of Directors has authorized a share repurchase plan on Friday, December 12th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 9.9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Shoe Carnival Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 26th. Investors of record on Monday, January 12th will be issued a $0.15 dividend. The ex-dividend date is Monday, January 12th. This represents a $0.60 annualized dividend and a yield of 3.1%. Shoe Carnival’s dividend payout ratio (DPR) is presently 28.57%.

Shoe Carnival Company Profile

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.