Shoe Carnival, Inc. (NASDAQ:SCVL) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Shoe Carnival, Inc. (NASDAQ:SCVL) have earned a consensus rating of “Hold” from the three brokerages that are presently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating.

Several equities research analysts recently commented on SCVL shares. Weiss Ratings reissued a “hold (c-)” rating on shares of Shoe Carnival in a report on Monday. Seaport Res Ptn downgraded shares of Shoe Carnival from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 26th. Wall Street Zen raised Shoe Carnival from a “sell” rating to a “hold” rating in a research report on Friday, September 26th. Finally, Zacks Research lowered Shoe Carnival from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 25th.

Shoe Carnival Stock Performance

Shares of SCVL opened at $19.11 on Wednesday. Shoe Carnival has a one year low of $15.21 and a one year high of $36.94. The stock’s fifty day moving average is $18.09 and its 200-day moving average is $20.05. The firm has a market capitalization of $523.23 million, a price-to-earnings ratio of 9.10 and a beta of 1.32.

Shoe Carnival (NASDAQ:SCVL) last announced its earnings results on Thursday, November 20th. The company reported $0.53 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.53. The firm had revenue of $297.16 million during the quarter, compared to analyst estimates of $295.25 million. Shoe Carnival had a net margin of 5.06% and a return on equity of 8.75%. Shoe Carnival’s revenue was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.71 EPS. Shoe Carnival has set its FY 2025 guidance at 1.800-2.100 EPS. Analysts forecast that Shoe Carnival will post 2.6 EPS for the current fiscal year.

Shoe Carnival Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 26th. Shareholders of record on Monday, January 12th will be given a $0.15 dividend. The ex-dividend date is Monday, January 12th. This represents a $0.60 dividend on an annualized basis and a yield of 3.1%. Shoe Carnival’s dividend payout ratio is presently 28.57%.

Shoe Carnival announced that its Board of Directors has initiated a share repurchase plan on Friday, December 12th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the company to buy up to 9.9% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

Insider Activity at Shoe Carnival

In other news, Director Andrea R. Guthrie sold 2,477 shares of the business’s stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $20.20, for a total transaction of $50,035.40. Following the transaction, the director directly owned 24,405 shares in the company, valued at $492,981. The trade was a 9.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 35.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Copeland Capital Management LLC grew its position in Shoe Carnival by 22.8% in the second quarter. Copeland Capital Management LLC now owns 1,718,101 shares of the company’s stock worth $32,146,000 after acquiring an additional 318,771 shares in the last quarter. ProShare Advisors LLC acquired a new position in Shoe Carnival during the second quarter worth $5,809,000. Millennium Management LLC raised its holdings in Shoe Carnival by 215.9% during the first quarter. Millennium Management LLC now owns 321,764 shares of the company’s stock valued at $7,076,000 after buying an additional 219,918 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Shoe Carnival by 51.8% in the second quarter. Arrowstreet Capital Limited Partnership now owns 642,771 shares of the company’s stock valued at $12,026,000 after purchasing an additional 219,443 shares during the period. Finally, Cubist Systematic Strategies LLC lifted its position in Shoe Carnival by 418.6% during the 1st quarter. Cubist Systematic Strategies LLC now owns 238,480 shares of the company’s stock worth $5,244,000 after acquiring an additional 192,494 shares during the last quarter. 66.05% of the stock is owned by institutional investors and hedge funds.

About Shoe Carnival

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.