Shoe Carnival (NASDAQ:SCVL) Reaches New 12-Month Low – Here’s Why

Shares of Shoe Carnival, Inc. (NASDAQ:SCVL) hit 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 trading hands. The stock had previously closed at $27.06.

Wall Street Analyst Weigh In

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

Shoe Carnival Price Performance

The stock has a market capitalization of $729.79 million, a price-to-earnings ratio of 9.88 and a beta of 1.50. The stock’s 50 day simple moving average is $31.98 and its 200-day simple moving average is $36.91.

Shoe Carnival (NASDAQ:SCVL) last announced its quarterly earnings results 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. Shoe Carnival had a net margin of 6.12% and a return on equity of 12.52%. The firm had revenue of $306.90 million for the quarter, compared to analyst estimates of $316.97 million. During the same quarter in the previous year, the firm posted $0.80 EPS. The business’s revenue for the quarter was down 4.1% on a year-over-year basis. As a group, equities research analysts anticipate that Shoe Carnival, Inc. will post 2.6 earnings per share for the current fiscal year.

Shoe Carnival Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, January 27th. Stockholders of record on Monday, January 13th were paid a $0.135 dividend. This represents a $0.54 annualized dividend and a dividend yield of 2.01%. The ex-dividend date was Monday, January 13th. Shoe Carnival’s dividend payout ratio (DPR) is presently 19.85%.

Shoe Carnival announced that its Board of Directors has approved a share repurchase plan on Thursday, December 12th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the company to purchase up to 5.2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Shoe Carnival

In other news, Chairman Wayne J. Weaver bought 285,500 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was acquired at an average cost of $33.91 per share, for a total transaction of $9,681,305.00. Following the purchase, the chairman now owns 4,173,529 shares of the company’s stock, valued at approximately $141,524,368.39. This trade represents a 7.34 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 34.70% of the company’s stock.

Institutional Investors Weigh In On Shoe Carnival

Several institutional investors and hedge funds have recently bought and sold shares of the company. Barclays PLC boosted its position in Shoe Carnival by 189.7% during the 3rd quarter. Barclays PLC now owns 30,342 shares of the company’s stock worth $1,330,000 after buying an additional 19,868 shares during the period. Victory Capital Management Inc. lifted its stake in Shoe Carnival by 138.3% in 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 during the last quarter. State Street Corp lifted its holdings in Shoe Carnival by 2.2% during the 3rd quarter. State Street Corp now owns 793,318 shares of the company’s stock worth $34,787,000 after purchasing an additional 17,086 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Shoe Carnival by 16.1% in 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 valued at $2,196,000 after acquiring an additional 6,946 shares in the last quarter. Finally, Hodges Capital Management Inc. grew its position in Shoe Carnival by 20.0% in the fourth quarter. Hodges Capital Management Inc. now owns 581,508 shares of the company’s stock worth $19,236,000 after acquiring an additional 96,753 shares in the last quarter. Institutional investors 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.