Shoe Carnival (NASDAQ:SCVL) Sets New 1-Year High at $46.49

Shoe Carnival, Inc. (NASDAQ:SCVL) shares reached a new 52-week high on Wednesday . The stock traded as high as $46.49 and last traded at $46.05, with a volume of 165297 shares traded. The stock had previously closed at $43.90.

Wall Street Analyst Weigh In

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

Shoe Carnival Trading Up 2.5 %

The company has a market cap of $1.22 billion, a PE ratio of 16.20 and a beta of 1.53. The business’s 50 day moving average is $40.71 and its two-hundred day moving average is $37.09.

Shoe Carnival (NASDAQ:SCVL) last posted its quarterly earnings results on Thursday, September 5th. The company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.03. The business had revenue of $332.70 million for the quarter, compared to analysts’ expectations of $331.45 million. Shoe Carnival had a return on equity of 13.26% and a net margin of 6.26%. The business’s quarterly revenue was up 12.9% on a year-over-year basis. During the same period last year, the firm earned $0.71 earnings per share. As a group, equities research analysts predict that Shoe Carnival, Inc. will post 2.65 EPS for the current fiscal year.

Shoe Carnival Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 22nd. Stockholders of record on Monday, July 8th were given a dividend of $0.135 per share. The ex-dividend date of this dividend was Monday, July 8th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 1.20%. Shoe Carnival’s payout ratio is 19.93%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Innealta Capital LLC purchased a new stake in Shoe Carnival in the second quarter worth $41,000. Maryland State Retirement & Pension System bought a new stake in shares of Shoe Carnival in the first quarter valued at about $240,000. Summit Global Investments purchased a new stake in Shoe Carnival in the second quarter worth about $244,000. EMC Capital Management grew its holdings in Shoe Carnival by 11.9% during the 1st quarter. EMC Capital Management now owns 7,468 shares of the company’s stock worth $274,000 after acquiring an additional 793 shares in the last quarter. Finally, Creative Planning purchased a new position in Shoe Carnival during the 2nd quarter valued at about $281,000. 66.05% of the stock is currently 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.