Shoe Carnival, Inc. (SCVL) To Go Ex-Dividend on July 7th

Shoe Carnival, Inc. (NASDAQ:SCVL) declared a quarterly dividend on Wednesday, June 25th, RTT News reports. Stockholders of record on Monday, July 7th will be given a dividend of 0.15 per share on Monday, July 21st. This represents a $0.60 annualized dividend and a dividend yield of 2.80%. The ex-dividend date is Monday, July 7th.

Shoe Carnival has a dividend payout ratio of 30.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Shoe Carnival to earn $2.93 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 20.5%.

Shoe Carnival Trading Up 1.6%

SCVL stock opened at $21.41 on Friday. The firm has a 50 day moving average of $19.23 and a 200-day moving average of $23.04. Shoe Carnival has a 12 month low of $16.14 and a 12 month high of $46.92. The firm has a market capitalization of $585.35 million, a P/E ratio of 8.96 and a beta of 1.37.

Shoe Carnival (NASDAQ:SCVL) last released its quarterly earnings data on Friday, May 30th. The company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.04. Shoe Carnival had a net margin of 5.58% and a return on equity of 10.43%. The company had revenue of $277.72 million during the quarter, compared to analyst estimates of $285.16 million. During the same period last year, the business earned $0.64 earnings per share. Shoe Carnival’s revenue was down 7.6% compared to the same quarter last year. Sell-side analysts predict that Shoe Carnival will post 2.6 EPS for the current year.

Hedge Funds Weigh In On Shoe Carnival

Large investors have recently modified their holdings of the company. AQR Capital Management LLC boosted its position 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 acquiring an additional 41,108 shares during the period. Royal Bank of Canada lifted its position in Shoe Carnival by 13.0% during the first quarter. Royal Bank of Canada now owns 80,923 shares of the company’s stock valued at $1,779,000 after purchasing an additional 9,298 shares during the last quarter. Empowered Funds LLC lifted 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 valued at $3,082,000 after purchasing an additional 4,108 shares during the last quarter. Finally, Millennium Management LLC lifted 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 valued at $7,076,000 after purchasing an additional 219,918 shares during the last quarter. 66.05% of the stock is currently owned by institutional investors.

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.