Shoe Carnival (NASDAQ:SHOE) Shares Pass Above Two Hundred Day Moving Average – Time to Sell?

Shoe Carnival, Inc. (NASDAQ:SHOE) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $0.00 and traded as high as $15.72. Shoe Carnival shares last traded at $15.61, with a volume of 372,899 shares.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Zacks Research lowered shares of Shoe Carnival from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 12th. Weiss Ratings assumed coverage on Shoe Carnival in a research report on Monday, June 15th. They issued a “hold (c-)” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $22.00.

Shoe Carnival Trading Up 0.5%

The firm has a market cap of $423.81 million, a PE ratio of 11.56 and a beta of 1.43.

Shoe Carnival (NASDAQ:SHOE) last released its quarterly earnings results 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 business had revenue of $270.73 million during the quarter. As a group, analysts forecast that Shoe Carnival, Inc. will post 1.5 EPS for the current year.

Shoe Carnival Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 20th. Stockholders of record on Monday, July 6th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 4.4%. The ex-dividend date was Monday, July 6th. Shoe Carnival’s dividend payout ratio (DPR) is presently 50.37%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of SHOE. Global Retirement Partners LLC acquired a new stake in Shoe Carnival in the 4th quarter valued at about $28,000. Huntington National Bank raised its holdings in Shoe Carnival by 45.5% in the fourth quarter. Huntington National Bank now owns 2,169 shares of the company’s stock valued at $37,000 after acquiring an additional 678 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in Shoe Carnival in the fourth quarter valued at approximately $44,000. Los Angeles Capital Management LLC purchased a new position in Shoe Carnival in the fourth quarter worth approximately $86,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Shoe Carnival by 66.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,005 shares of the company’s stock worth $146,000 after acquiring an additional 2,809 shares during the last quarter. 66.05% of the stock is owned by institutional investors and hedge funds.

Shoe Carnival Company Profile

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.