Shoe Carnival, Inc. (NASDAQ:SCVL - Get Free Report) CFO W Kerry Jackson acquired 31,000 shares of the business's stock in a transaction dated Thursday, April 2nd. The shares were acquired at an average cost of $16.13 per share, with a total value of $500,030.00. Following the transaction, the chief financial officer owned 215,529 shares in the company, valued at approximately $3,476,482.77. This trade represents a 16.80% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Shoe Carnival Trading Down 0.4%
Shares of NASDAQ:SCVL opened at $15.93 on Tuesday. The stock has a 50 day moving average of $18.82 and a 200 day moving average of $18.75. The company has a market cap of $437.60 million, a PE ratio of 8.38 and a beta of 1.36. Shoe Carnival, Inc. has a 12-month low of $15.04 and a 12-month high of $26.57.
Shoe Carnival (NASDAQ:SCVL - Get Free Report) last announced its quarterly earnings data on Thursday, March 26th. The company reported $0.33 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.33. The company had revenue of $254.07 million during the quarter, compared to the consensus estimate of $255.83 million. Shoe Carnival had a return on equity of 7.75% and a net margin of 4.60%.The firm's revenue was down 3.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.54 EPS. Equities research analysts predict that Shoe Carnival, Inc. will post 2.6 earnings per share for the current fiscal year.
Shoe Carnival Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, April 20th. Investors of record on Monday, April 6th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Monday, April 6th. This represents a $0.68 annualized dividend and a yield of 4.3%. This is an increase from Shoe Carnival's previous quarterly dividend of $0.15. Shoe Carnival's payout ratio is currently 31.58%.
Shoe Carnival declared that its Board of Directors has authorized a stock repurchase program on Friday, December 12th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the company to buy up to 9.9% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board believes its stock is undervalued.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Huntington National Bank boosted its stake in Shoe Carnival by 164.8% in the 3rd quarter. Huntington National Bank now owns 1,491 shares of the company's stock worth $31,000 after purchasing an additional 928 shares during the period. Global Retirement Partners LLC bought a new position in shares of Shoe Carnival during the 4th quarter valued at about $28,000. Hantz Financial Services Inc. boosted its holdings in shares of Shoe Carnival by 305.0% during the 3rd quarter. Hantz Financial Services Inc. now owns 2,029 shares of the company's stock valued at $42,000 after purchasing an additional 1,528 shares during the last quarter. Kestra Advisory Services LLC bought a new position in shares of Shoe Carnival during the 4th quarter valued at about $44,000. Finally, Los Angeles Capital Management LLC bought a new position in shares of Shoe Carnival during the 4th quarter valued at about $86,000. 66.05% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several research analysts recently weighed in on the stock. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Shoe Carnival in a report on Friday, March 27th. Williams Trading set a $22.00 target price on shares of Shoe Carnival in a report on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Shoe Carnival currently has a consensus rating of "Moderate Buy" and a consensus target price of $22.00.
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About Shoe Carnival
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Shoe Carnival, Inc (NASDAQ: SCVL) is a U.S.-based specialty retailer offering a broad assortment of footwear, apparel and accessories for the entire family. Through its network of brick-and-mortar stores and e-commerce platform, the company provides casual, athletic and dress shoes for men, women and children, as well as complementary apparel, handbags, socks and other accessories designed to deliver value and variety. Its distinctive in-store carnival host service model aims to create an engaging shopping experience and foster customer loyalty.
Founded in 1978 and headquartered in Evansville, Indiana, Shoe Carnival has expanded over four decades to operate more than 350 retail locations across over 30 states.
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