Shoe Carnival, Inc. (NASDAQ:SCVL) to Issue $0.14 Quarterly Dividend

Shoe Carnival, Inc. (NASDAQ:SCVL) declared a quarterly dividend on Tuesday, June 25th, Zacks reports. Shareholders of record on Monday, July 8th will be given a dividend of 0.135 per share on Monday, July 22nd. This represents a $0.54 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend is Monday, July 8th.

Shoe Carnival has raised its dividend by an average of 32.8% per year over the last three years and has raised its dividend every year for the last 13 years. Shoe Carnival has a payout ratio of 17.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Shoe Carnival to earn $2.98 per share next year, which means the company should continue to be able to cover its $0.54 annual dividend with an expected future payout ratio of 18.1%.

Shoe Carnival Stock Performance

SCVL traded down $0.62 during trading on Thursday, hitting $36.53. 29,731 shares of the stock were exchanged, compared to its average volume of 197,073. The firm has a 50 day simple moving average of $35.88 and a 200 day simple moving average of $32.22. The firm has a market cap of $992.15 million, a price-to-earnings ratio of 13.49 and a beta of 1.49. Shoe Carnival has a 1 year low of $19.87 and a 1 year high of $39.65.

Shoe Carnival (NASDAQ:SCVL) last released its quarterly earnings data on Thursday, May 23rd. The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.60 by $0.04. The company had revenue of $300.37 million for the quarter, compared to the consensus estimate of $292.38 million. Shoe Carnival had a return on equity of 13.02% and a net margin of 6.20%. As a group, equities analysts anticipate that Shoe Carnival will post 2.65 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have issued reports on SCVL. Williams Trading raised Shoe Carnival from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a research report on Friday, March 22nd. Monness Crespi & Hardt cut Shoe Carnival from a “buy” rating to a “neutral” rating in a research report on Tuesday, March 19th.

Insiders Place Their Bets

In other Shoe Carnival news, Director Andrea R. Guthrie sold 2,467 shares of Shoe Carnival stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $32.46, for a total transaction of $80,078.82. Following the completion of the sale, the director now owns 20,106 shares of the company’s stock, valued at approximately $652,640.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 34.70% of the stock is currently owned by insiders.

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.