Shoe Carnival (NASDAQ:SCVL) Shares Gap Up on Insider Buying Activity

Shoe Carnival, Inc. (NASDAQ:SCVL)’s share price gapped up before the market opened on Tuesday following insider buying activity. The stock had previously closed at $34.19, but opened at $36.00. Shoe Carnival shares last traded at $35.40, with a volume of 50,418 shares traded.

Specifically, Chairman Wayne J. Weaver acquired 285,500 shares of the firm’s stock in a transaction on Friday, December 6th. The stock was purchased at an average cost of $33.91 per share, with a total value of $9,681,305.00. Following the acquisition, 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 purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Analyst Upgrades and Downgrades

A number of analysts have commented on SCVL shares. StockNews.com raised Shoe Carnival from a “sell” rating to a “hold” rating in a report on Saturday, November 30th. Williams Trading boosted their price objective on 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 Down 0.1 %

The firm has a fifty day simple moving average of $36.33 and a two-hundred day simple moving average of $38.60. The firm has a market capitalization of $968.34 million, a P/E ratio of 13.10 and a beta of 1.53. The company has a debt-to-equity ratio of 0.50, a current ratio of 3.88 and a quick ratio of 0.89.

Shoe Carnival (NASDAQ:SCVL) last announced its quarterly earnings data on Thursday, November 21st. The company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.01. Shoe Carnival had a return on equity of 12.52% and a net margin of 6.12%. The business had revenue of $306.90 million during the quarter, compared to analyst estimates of $316.97 million. During the same period in the prior year, the company earned $0.80 earnings per share. Shoe Carnival’s revenue was down 4.1% compared to the same quarter last year. On average, equities research analysts anticipate that Shoe Carnival, Inc. will post 2.6 earnings per share for the current fiscal 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 dividend of $0.135 per share. The ex-dividend date of this dividend was Monday, October 7th. This represents a $0.54 annualized dividend and a dividend yield of 1.52%. Shoe Carnival’s dividend payout ratio is currently 19.85%.

Institutional Investors Weigh In On Shoe Carnival

Institutional investors have recently made changes to their positions in the stock. Victory Capital Management Inc. lifted its position 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 worth $2,598,000 after acquiring an additional 34,382 shares in the last quarter. Pinnacle Associates Ltd. lifted its position in shares of Shoe Carnival by 69.2% during the third quarter. Pinnacle Associates Ltd. now owns 46,540 shares of the company’s stock worth $2,041,000 after acquiring an additional 19,030 shares in the last quarter. Creative Planning purchased a new stake in shares of Shoe Carnival during the second quarter worth $281,000. Millennium Management LLC lifted its position 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 worth $3,757,000 after acquiring an additional 89,504 shares in the last quarter. Finally, Pacer Advisors Inc. purchased a new stake in shares of Shoe Carnival during the third quarter worth $37,440,000. Hedge funds and other 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.