Shoe Carnival, Inc. (NASDAQ:SCVL) Director Jeffrey C. Gerstel sold 1,200 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $36.50, for a total transaction of $43,800.00. Following the completion of the sale, the director now directly owns 5,526 shares in the company, valued at approximately $201,699. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Shares of NASDAQ:SCVL opened at $36.03 on Wednesday. The company has a market capitalization of $560.57 million, a P/E ratio of 14.94 and a beta of 0.76. Shoe Carnival, Inc. has a fifty-two week low of $23.08 and a fifty-two week high of $45.00.
Shoe Carnival (NASDAQ:SCVL) last released its quarterly earnings data on Tuesday, March 26th. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.03. Shoe Carnival had a net margin of 3.70% and a return on equity of 12.42%. The company had revenue of $234.70 million for the quarter, compared to analysts’ expectations of $232.84 million. During the same quarter last year, the company earned $0.11 earnings per share. The firm’s revenue for the quarter was down 3.5% on a year-over-year basis. Equities analysts forecast that Shoe Carnival, Inc. will post 2.67 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 22nd. Shareholders of record on Monday, April 8th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, April 5th. This represents a $0.32 dividend on an annualized basis and a yield of 0.89%. Shoe Carnival’s payout ratio is currently 13.06%.
Several analysts recently weighed in on the stock. Sidoti raised shares of Shoe Carnival from a “neutral” rating to a “buy” rating in a report on Friday, April 5th. They noted that the move was a valuation call. Zacks Investment Research cut shares of Shoe Carnival from a “buy” rating to a “hold” rating in a report on Wednesday, March 20th. BidaskClub cut shares of Shoe Carnival from a “sell” rating to a “strong sell” rating in a report on Tuesday, March 26th. Pivotal Research reaffirmed a “buy” rating and issued a $45.00 target price on shares of Shoe Carnival in a report on Wednesday, March 20th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $47.00 target price on shares of Shoe Carnival in a report on Monday, March 18th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $42.20.
Hedge funds have recently added to or reduced their stakes in the business. Smith Asset Management Group LP acquired a new position in shares of Shoe Carnival in the 4th quarter valued at $69,000. Advisor Group Inc. increased its holdings in shares of Shoe Carnival by 1,066.1% in the 4th quarter. Advisor Group Inc. now owns 2,134 shares of the company’s stock valued at $71,000 after acquiring an additional 1,951 shares during the period. Metropolitan Life Insurance Co. NY increased its holdings in shares of Shoe Carnival by 232.3% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 3,044 shares of the company’s stock valued at $102,000 after acquiring an additional 2,128 shares during the period. Oppenheimer Asset Management Inc. acquired a new position in shares of Shoe Carnival in the 4th quarter valued at $111,000. Finally, Oregon Public Employees Retirement Fund acquired a new position in shares of Shoe Carnival in the 4th quarter valued at $128,000. 88.18% of the stock is currently owned by institutional investors.
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Shoe Carnival Company Profile
Shoe Carnival, Inc, together with its subsidiaries, operates as a family footwear retailer in the United States. The company offers various dress, casual, and athletic footwear products for men, women, and children; and accessories, such as socks, belts, shoe care items, handbags, sport bags, backpacks, jewelry, scarves, and wallets.
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