Sidoti cut shares of Shoe Carnival, Inc. (NASDAQ:SCVL) from a buy rating to a neutral rating in a research report report published on Tuesday morning. The firm currently has $24.00 target price on the stock.

SCVL has been the subject of several other reports. Jefferies Group LLC reiterated a hold rating and set a $20.00 price objective (down from $21.00) on shares of Shoe Carnival in a report on Thursday, August 31st. BidaskClub lowered Shoe Carnival from a sell rating to a strong sell rating in a report on Thursday, July 27th. Zacks Investment Research lowered Shoe Carnival from a buy rating to a hold rating in a report on Tuesday, September 19th. Susquehanna Bancshares Inc raised their target price on Shoe Carnival from $18.00 to $19.00 and gave the company a neutral rating in a report on Thursday, August 31st. Finally, Wedbush began coverage on Shoe Carnival in a report on Monday, August 14th. They set an outperform rating and a $21.00 target price on the stock. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $22.57.

Shoe Carnival (SCVL) traded up 0.09% during trading on Tuesday, reaching $22.20. The company had a trading volume of 106,416 shares. The company has a 50-day moving average price of $19.31 and a 200 day moving average price of $20.65. Shoe Carnival has a 52-week low of $15.08 and a 52-week high of $31.79. The stock has a market cap of $377.82 million, a PE ratio of 18.36 and a beta of 0.94.

Shoe Carnival (NASDAQ:SCVL) last announced its quarterly earnings data on Wednesday, August 30th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.04. Shoe Carnival had a return on equity of 7.37% and a net margin of 2.09%. The business had revenue of $235.10 million during the quarter, compared to analyst estimates of $232.26 million. During the same period last year, the company earned $0.22 earnings per share. Shoe Carnival’s quarterly revenue was up 1.4% compared to the same quarter last year. On average, analysts anticipate that Shoe Carnival will post $1.45 earnings per share for the current year.

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The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, October 2nd will be given a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 1.35%. The ex-dividend date of this dividend is Friday, September 29th. Shoe Carnival’s dividend payout ratio is currently 24.79%.

In other Shoe Carnival news, Director Charles B. Tomm purchased 11,190 shares of the stock in a transaction dated Friday, September 29th. The shares were bought at an average cost of $22.69 per share, with a total value of $253,901.10. Following the completion of the transaction, the director now owns 16,948 shares in the company, valued at approximately $384,550.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 28.50% of the company’s stock.

Several large investors have recently modified their holdings of the company. Tower Research Capital LLC TRC acquired a new stake in shares of Shoe Carnival in the second quarter valued at about $175,000. Goldman Sachs Group Inc. grew its position in shares of Shoe Carnival by 140.8% in the second quarter. Goldman Sachs Group Inc. now owns 33,355 shares of the company’s stock valued at $697,000 after purchasing an additional 19,501 shares during the last quarter. Petrus Trust Company LTA acquired a new stake in shares of Shoe Carnival in the second quarter valued at about $352,000. OxFORD Asset Management LLP acquired a new stake in shares of Shoe Carnival in the second quarter valued at about $539,000. Finally, Citadel Advisors LLC acquired a new stake in shares of Shoe Carnival in the second quarter valued at about $1,233,000. 62.74% of the stock is currently owned by institutional investors.

Shoe Carnival Company Profile

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.

Analyst Recommendations for Shoe Carnival (NASDAQ:SCVL)

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