Shoe Carnival (NASDAQ:SCVL) Sets New 1-Year Low – Here’s Why

Shoe Carnival, Inc. (NASDAQ:SCVL) shares reached a new 52-week low on Monday . The stock traded as low as $25.43 and last traded at $25.46, with a volume of 350816 shares traded. The stock had previously closed at $27.06.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Shoe Carnival from a “sell” rating to a “hold” rating in a report on Saturday, November 30th.

Shoe Carnival Price Performance

The stock’s fifty day moving average price is $32.45 and its 200-day moving average price is $37.16. The firm has a market cap of $691.75 million, a PE ratio of 9.36 and a beta of 1.50.

Shoe Carnival (NASDAQ:SCVL) last announced its quarterly earnings data on Thursday, November 21st. The company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.01. The company had revenue of $306.90 million during the quarter, compared to analysts’ expectations of $316.97 million. Shoe Carnival had a net margin of 6.12% and a return on equity of 12.52%. Shoe Carnival’s revenue was down 4.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.80 EPS. On average, sell-side analysts anticipate that Shoe Carnival, Inc. will post 2.6 earnings per share for the current fiscal year.

Shoe Carnival Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, January 27th. Shareholders of record on Monday, January 13th were issued a $0.135 dividend. This represents a $0.54 annualized dividend and a yield of 2.12%. The ex-dividend date was Monday, January 13th. Shoe Carnival’s payout ratio is currently 19.85%.

Shoe Carnival declared that its Board of Directors has authorized a stock repurchase plan on Thursday, December 12th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the company to buy up to 5.2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Insider Activity at Shoe Carnival

In other Shoe Carnival news, Chairman Wayne J. Weaver acquired 285,500 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was bought at an average cost of $33.91 per share, for a total transaction of $9,681,305.00. Following the completion of the transaction, the chairman now owns 4,173,529 shares of the company’s stock, valued at approximately $141,524,368.39. The trade was a 7.34 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 34.70% of the stock is currently owned by insiders.

Institutional Trading of Shoe Carnival

A number of hedge funds and other institutional investors have recently modified their holdings of SCVL. Barclays PLC lifted its holdings in shares of Shoe Carnival by 189.7% in the 3rd 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 last quarter. Victory Capital Management Inc. increased its position in shares of Shoe Carnival by 138.3% in the 3rd quarter. Victory Capital Management Inc. now owns 59,239 shares of the company’s stock valued at $2,598,000 after purchasing an additional 34,382 shares during the last quarter. State Street Corp raised its stake in Shoe Carnival by 2.2% in the third quarter. State Street Corp now owns 793,318 shares of the company’s stock valued at $34,787,000 after buying an additional 17,086 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Shoe Carnival by 16.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 50,069 shares of the company’s stock worth $2,196,000 after acquiring an additional 6,946 shares in the last quarter. Finally, Pinnacle Associates Ltd. boosted its holdings in Shoe Carnival by 69.2% in the third quarter. Pinnacle Associates Ltd. now owns 46,540 shares of the company’s stock valued at $2,041,000 after purchasing an additional 19,030 shares in the last quarter. 66.05% of the stock is owned by institutional investors and hedge funds.

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.