Shoe Carnival (NASDAQ:SCVL) Upgraded at StockNews.com

StockNews.com upgraded shares of Shoe Carnival (NASDAQ:SCVL) from a sell rating to a hold rating in a report released on Saturday.

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

Shoe Carnival Trading Up 5.5 %

NASDAQ:SCVL opened at $35.60 on Friday. The company has a market cap of $967.25 million, a PE ratio of 13.08 and a beta of 1.56. The business’s 50 day moving average is $37.74 and its two-hundred day moving average is $38.65. The company has a quick ratio of 0.89, a current ratio of 3.88 and a debt-to-equity ratio of 0.50. Shoe Carnival has a 52 week low of $24.74 and a 52 week high of $46.92.

Shoe Carnival (NASDAQ:SCVL) last announced its quarterly earnings data on Thursday, September 5th. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.03. The firm 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 12.52% and a net margin of 6.12%. The firm’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same period last year, the business posted $0.71 earnings per share. On average, analysts predict that Shoe Carnival will post 2.6 EPS for the current year.

Shoe Carnival Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Monday, October 7th were given a $0.135 dividend. This represents a $0.54 annualized dividend and a yield of 1.52%. The ex-dividend date was Monday, October 7th. Shoe Carnival’s dividend payout ratio is presently 19.85%.

Hedge Funds Weigh In On Shoe Carnival

Hedge funds and other institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. raised its stake in shares of Shoe Carnival by 138.3% during the third 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 in the last quarter. Pinnacle Associates Ltd. increased its stake in Shoe Carnival by 69.2% during the 3rd quarter. Pinnacle Associates Ltd. now owns 46,540 shares of the company’s stock valued at $2,041,000 after buying an additional 19,030 shares during the period. CANADA LIFE ASSURANCE Co lifted its stake in shares of Shoe Carnival by 11.3% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 15,369 shares of the company’s stock worth $562,000 after acquiring an additional 1,562 shares during the period. Creative Planning bought a new position in shares of Shoe Carnival in the second quarter valued at approximately $281,000. Finally, Millennium Management LLC increased its stake in shares of Shoe Carnival by 726.1% during the second quarter. Millennium Management LLC now owns 101,831 shares of the company’s stock valued at $3,757,000 after acquiring an additional 89,504 shares during the period. Institutional investors and hedge funds own 66.05% of the company’s stock.

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.