Shoe Carnival (NASDAQ:SHOE) Stock Price Crosses Above 200-Day Moving Average – Should You Sell?

Shares of Shoe Carnival, Inc. (NASDAQ:SHOE) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $0.00 and traded as high as $14.92. Shoe Carnival shares last traded at $14.86, with a volume of 680,641 shares changing hands.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on SHOE shares. Zacks Research downgraded Shoe Carnival from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 12th. Weiss Ratings began coverage on shares of Shoe Carnival in a research note on Monday, June 15th. They issued a “hold (c-)” rating on the stock. One research analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $22.00.

Shoe Carnival Stock Performance

The stock has a market capitalization of $403.45 million, a price-to-earnings ratio of 11.01 and a beta of 1.43.

Shoe Carnival (NASDAQ:SHOE) last posted its quarterly earnings data on Thursday, May 21st. The company reported $0.23 EPS for the quarter. Shoe Carnival had a return on equity of 7.24% and a net margin of 3.31%.The firm had revenue of $270.73 million during the quarter. Equities analysts expect that Shoe Carnival, Inc. will post 1.5 EPS for the current fiscal year.

Shoe Carnival Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 20th. Shareholders of record on Monday, July 6th were given a $0.17 dividend. The ex-dividend date was Monday, July 6th. This represents a $0.68 dividend on an annualized basis and a yield of 4.6%. Shoe Carnival’s dividend payout ratio is presently 50.37%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in SHOE. Bank of America Corp DE grew its stake in shares of Shoe Carnival by 24.4% during the 1st quarter. Bank of America Corp DE now owns 69,853 shares of the company’s stock valued at $1,089,000 after acquiring an additional 13,690 shares during the period. Royal Bank of Canada raised its stake in Shoe Carnival by 6.2% during the 1st quarter. Royal Bank of Canada now owns 97,107 shares of the company’s stock worth $1,514,000 after acquiring an additional 5,685 shares during the period. Empowered Funds LLC raised its stake in Shoe Carnival by 17.9% during the 1st quarter. Empowered Funds LLC now owns 143,254 shares of the company’s stock worth $2,233,000 after acquiring an additional 21,714 shares during the period. Quantinno Capital Management LP bought a new stake in Shoe Carnival during the 1st quarter worth approximately $220,000. Finally, Sei Investments Co. boosted its position in shares of Shoe Carnival by 69.7% in the first quarter. Sei Investments Co. now owns 155,660 shares of the company’s stock worth $2,427,000 after purchasing an additional 63,912 shares during the period. 66.05% of the stock is owned by hedge funds and other institutional investors.

About Shoe Carnival

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.