StockNews.com Downgrades Shoe Carnival (NASDAQ:SCVL) to Sell

StockNews.com cut shares of Shoe Carnival (NASDAQ:SCVL) from a hold rating to a sell rating in a research note released on Friday.

Separately, Williams Trading boosted their target price on Shoe Carnival from $42.00 to $51.00 and gave the company a “buy” rating in a research note on Thursday, August 29th.

Shoe Carnival Price Performance

Shares of NASDAQ SCVL opened at $34.94 on Friday. The stock has a market cap of $949.32 million, a PE ratio of 12.85 and a beta of 1.56. Shoe Carnival has a fifty-two week low of $22.75 and a fifty-two week high of $46.92. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.89 and a current ratio of 3.88. The stock has a fifty day moving average of $38.78 and a 200-day moving average of $38.71.

Shoe Carnival (NASDAQ:SCVL) last issued its quarterly earnings results 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. Shoe Carnival had a return on equity of 12.52% and a net margin of 6.12%. The firm had revenue of $332.70 million during the quarter, compared to analyst estimates of $331.45 million. During the same quarter in the previous year, the company posted $0.71 earnings per share. The company’s revenue was up 12.9% compared to the same quarter last year. Equities research analysts anticipate that Shoe Carnival will post 2.67 earnings per share for the current year.

Shoe Carnival Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Monday, October 7th were paid a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date was Monday, October 7th. Shoe Carnival’s dividend payout ratio (DPR) is presently 19.85%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SCVL. Pacer Advisors Inc. purchased a new position in Shoe Carnival during the 3rd quarter valued at about $37,440,000. American Century Companies Inc. increased its holdings in Shoe Carnival by 34.7% during the 2nd quarter. American Century Companies Inc. now owns 410,355 shares of the company’s stock valued at $15,138,000 after purchasing an additional 105,818 shares during the period. Millennium Management LLC increased its holdings in Shoe Carnival by 726.1% during the 2nd quarter. Millennium Management LLC now owns 101,831 shares of the company’s stock valued at $3,757,000 after purchasing an additional 89,504 shares during the period. Victory Capital Management Inc. increased its holdings in Shoe Carnival by 138.3% during the 3rd 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 period. Finally, Maverick Capital Ltd. increased its holdings in Shoe Carnival by 98.9% during the 2nd quarter. Maverick Capital Ltd. now owns 56,790 shares of the company’s stock valued at $2,095,000 after purchasing an additional 28,233 shares during the period. Hedge funds and other institutional investors own 66.05% of the company’s stock.

About Shoe Carnival

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.