Shoe Carnival (NASDAQ:SCVL) Trading Down 3.8% – Time to Sell?

Shares of Shoe Carnival, Inc. (NASDAQ:SCVL) fell 3.8% during trading on Tuesday . The company traded as low as $33.47 and last traded at $33.48. 38,763 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 239,837 shares. The stock had previously closed at $34.82.

Analyst Upgrades and Downgrades

Separately, Williams Trading increased their price target on shares of Shoe Carnival from $42.00 to $51.00 and gave the company a “buy” rating in a research note on Thursday, August 29th.

Shoe Carnival Stock Down 0.6 %

The stock has a market cap of $909.65 million, a price-to-earnings ratio of 11.87 and a beta of 1.56. The business’s 50 day simple moving average is $39.03 and its 200 day simple moving average is $38.70.

Shoe Carnival (NASDAQ:SCVL) last issued its quarterly earnings data on Thursday, September 5th. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.03. The company had revenue of $332.70 million for the quarter, compared to analyst estimates of $331.45 million. Shoe Carnival had a net margin of 6.26% and a return on equity of 13.26%. The company’s revenue was up 12.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.71 earnings per share. Equities research analysts forecast that Shoe Carnival, Inc. will post 2.54 earnings per share for the current fiscal year.

Shoe Carnival Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Monday, October 7th were given a $0.135 dividend. This represents a $0.54 annualized dividend and a dividend yield of 1.61%. The ex-dividend date was Monday, October 7th. Shoe Carnival’s payout ratio is presently 19.15%.

Hedge Funds Weigh In On Shoe Carnival

Several large investors have recently modified their holdings of SCVL. Barclays PLC increased its position in Shoe Carnival by 189.7% during the third quarter. Barclays PLC now owns 30,342 shares of the company’s stock worth $1,330,000 after acquiring an additional 19,868 shares during the period. Geode Capital Management LLC increased its position in Shoe Carnival by 2.4% during the third quarter. Geode Capital Management LLC now owns 452,548 shares of the company’s stock worth $19,848,000 after acquiring an additional 10,761 shares during the period. XTX Topco Ltd bought a new position in Shoe Carnival during the third quarter worth about $296,000. State Street Corp increased its position in Shoe Carnival by 2.2% during the third quarter. State Street Corp now owns 793,318 shares of the company’s stock worth $34,787,000 after acquiring an additional 17,086 shares during the period. Finally, Quarry LP bought a new position in Shoe Carnival during the third quarter worth about $66,000. 66.05% of the stock is owned by institutional investors.

About Shoe Carnival

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.