Shoe Carnival, Inc. (SCVL) Plans Dividend Increase – $0.08 Per Share
Shoe Carnival, Inc. (NASDAQ:SCVL) announced a quarterly dividend on Tuesday, June 20th, Wall Street Journal reports. Stockholders of record on Monday, July 3rd will be given a dividend of 0.075 per share on Monday, July 17th. This represents a $0.30 annualized dividend and a dividend yield of 1.58%. The ex-dividend date of this dividend is Thursday, June 29th. This is an increase from Shoe Carnival’s previous quarterly dividend of $0.07.
Shoe Carnival (SCVL) traded down 3.75% on Tuesday, hitting $19.00. The stock had a trading volume of 172,865 shares. The company has a 50 day moving average of $20.96 and a 200 day moving average of $24.67. Shoe Carnival has a 12-month low of $17.56 and a 12-month high of $31.79. The company has a market capitalization of $327.88 million, a PE ratio of 16.16 and a beta of 0.97.
Shoe Carnival (NASDAQ:SCVL) last announced its quarterly earnings results on Wednesday, May 24th. The company reported $0.48 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.48. The company had revenue of $253.40 million during the quarter, compared to the consensus estimate of $251.74 million. Shoe Carnival had a net margin of 2.12% and a return on equity of 7.27%. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.56 earnings per share. On average, equities analysts expect that Shoe Carnival will post $1.41 earnings per share for the current year.
A number of hedge funds have recently modified their holdings of SCVL. California Public Employees Retirement System increased its stake in shares of Shoe Carnival by 5.6% in the first quarter. California Public Employees Retirement System now owns 46,800 shares of the company’s stock worth $1,150,000 after buying an additional 2,500 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Shoe Carnival by 4.2% in the first quarter. Vanguard Group Inc. now owns 687,504 shares of the company’s stock worth $16,893,000 after buying an additional 27,447 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Shoe Carnival by 7.5% in the first quarter. Geode Capital Management LLC now owns 225,430 shares of the company’s stock worth $5,537,000 after buying an additional 15,799 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of Shoe Carnival by 7.4% in the first quarter. Schwab Charles Investment Management Inc. now owns 93,867 shares of the company’s stock worth $2,307,000 after buying an additional 6,488 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in shares of Shoe Carnival by 177.7% in the first quarter. Bank of America Corp DE now owns 20,916 shares of the company’s stock worth $514,000 after buying an additional 13,384 shares during the last quarter. Hedge funds and other institutional investors own 65.05% of the company’s stock.
A number of research firms recently weighed in on SCVL. B. Riley began coverage on Shoe Carnival in a report on Tuesday, March 14th. They issued a “neutral” rating and a $26.00 price objective for the company. Zacks Investment Research downgraded Shoe Carnival from a “hold” rating to a “sell” rating in a report on Tuesday, March 28th. Jefferies Group LLC restated a “hold” rating and issued a $21.00 price objective (down from $26.00) on shares of Shoe Carnival in a report on Thursday, May 25th. Finally, TheStreet downgraded Shoe Carnival from a “b-” rating to a “c+” rating in a report on Tuesday, May 23rd. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. Shoe Carnival presently has an average rating of “Hold” and a consensus price target of $24.00.
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About Shoe Carnival
Shoe Carnival, Inc is a family footwear retailer. The Company’s primary activity is the sale of footwear and related products through its retail stores in approximately 30 states within the continental United States and in Puerto Rico. It also offers online shopping on its e-commerce site at www.shoecarnival.com.
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