Shoe Carnival (NASDAQ:SCVL) Sets New 1-Year Low – Time to Sell?

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

Analysts Set New Price Targets

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

Shoe Carnival Stock Performance

The stock has a fifty day moving average price of $31.68 and a 200-day moving average price of $36.68. The firm has a market cap of $690.60 million, a PE ratio of 9.35 and a beta of 1.50.

Shoe Carnival (NASDAQ:SCVL) last released its quarterly earnings data on Thursday, November 21st. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.01. The company had revenue of $306.90 million during the quarter, compared to analyst estimates of $316.97 million. Shoe Carnival had a net margin of 6.12% and a return on equity of 12.52%. The business’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.80 earnings per share. As a group, equities analysts predict 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, January 27th. Stockholders of record on Monday, January 13th were given a $0.135 dividend. This represents a $0.54 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend was Monday, January 13th. Shoe Carnival’s payout ratio is 19.85%.

Shoe Carnival announced that its Board of Directors has approved a stock repurchase plan on Thursday, December 12th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 5.2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In other Shoe Carnival news, Chairman Wayne J. Weaver bought 285,500 shares of the company’s stock in a transaction dated Friday, December 6th. The shares were acquired at an average cost of $33.91 per share, with a total value of $9,681,305.00. Following the completion of the transaction, the chairman now owns 4,173,529 shares in the company, valued at $141,524,368.39. The trade was a 7.34 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 and hedge funds have recently bought and sold shares of the business. Harvest Fund Management Co. Ltd acquired a new position in shares of Shoe Carnival in the 3rd quarter valued at approximately $62,000. Quarry LP acquired a new stake in Shoe Carnival in the third quarter valued at $66,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Shoe Carnival during the 3rd quarter valued at $76,000. FMR LLC grew its holdings in Shoe Carnival by 8.7% during the 3rd quarter. FMR LLC now owns 4,266 shares of the company’s stock worth $187,000 after acquiring an additional 343 shares in the last quarter. Finally, Everence Capital Management Inc. bought a new stake in shares of Shoe Carnival in the 3rd quarter worth about $224,000. 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.