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

Shoe Carnival, Inc. (NASDAQ:SCVL) hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $25.38 and last traded at $25.46, with a volume of 14892 shares trading hands. The stock had previously closed at $25.74.

Analyst Upgrades and Downgrades

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

Shoe Carnival Stock Performance

The stock has a market cap of $692.56 million, a P/E ratio of 9.37 and a beta of 1.50. The firm’s fifty day simple moving average is $31.29 and its 200-day simple moving average is $36.45.

Shoe Carnival (NASDAQ:SCVL) last announced its earnings results on Thursday, November 21st. The company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.01. The business had revenue of $306.90 million during the quarter, compared to the consensus estimate of $316.97 million. Shoe Carnival had a net margin of 6.12% and a return on equity of 12.52%. Shoe Carnival’s quarterly revenue was down 4.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.80 earnings per share. Analysts predict that Shoe Carnival, Inc. will post 2.6 earnings per share for the current fiscal year.

Shoe Carnival Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date was Monday, January 13th. Shoe Carnival’s dividend payout ratio is 19.85%.

Shoe Carnival announced that its board has approved a stock repurchase program on Thursday, December 12th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the company to reacquire up to 5.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In related news, Chairman Wayne J. Weaver acquired 285,500 shares of the business’s stock in a transaction dated Friday, December 6th. The shares were bought at an average price of $33.91 per share, with a total value of $9,681,305.00. Following the transaction, the chairman now directly owns 4,173,529 shares of the company’s stock, valued at $141,524,368.39. This trade represents a 7.34 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 34.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SCVL. Vanguard Group Inc. increased its stake in Shoe Carnival by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 1,397,109 shares of the company’s stock valued at $46,216,000 after purchasing an additional 8,826 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Shoe Carnival during the fourth quarter valued at about $99,000. Sei Investments Co. increased its position in shares of Shoe Carnival by 0.8% during the fourth quarter. Sei Investments Co. now owns 56,940 shares of the company’s stock worth $1,884,000 after acquiring an additional 437 shares in the last quarter. American Century Companies Inc. increased its position in shares of Shoe Carnival by 7.4% during the fourth quarter. American Century Companies Inc. now owns 547,366 shares of the company’s stock worth $18,107,000 after acquiring an additional 37,569 shares in the last quarter. Finally, Quantbot Technologies LP raised its holdings in shares of Shoe Carnival by 15,974.5% in the 4th quarter. Quantbot Technologies LP now owns 52,403 shares of the company’s stock worth $1,733,000 after acquiring an additional 52,077 shares during the last quarter. 66.05% of the stock is owned by institutional investors and hedge funds.

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.