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

Shoe Carnival, Inc. (NASDAQ:SHOE) shares crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $0.00 and traded as high as $15.99. Shoe Carnival shares last traded at $15.86, with a volume of 503,473 shares changing hands.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on SHOE shares. Zacks Research downgraded shares of Shoe Carnival from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 12th. Weiss Ratings started coverage on shares of Shoe Carnival in a report on Monday, June 15th. They issued a “hold (c-)” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.00.

Shoe Carnival Stock Down 0.8%

The firm has a market capitalization of $420.30 million, a PE ratio of 11.47 and a beta of 1.43.

Shoe Carnival (NASDAQ:SHOE) last announced its earnings results on Thursday, May 21st. The company reported $0.23 earnings per share (EPS) for the quarter. The company had revenue of $270.73 million for the quarter. Shoe Carnival had a return on equity of 7.24% and a net margin of 3.31%. On average, analysts forecast that Shoe Carnival, Inc. will post 1.5 EPS for the current year.

Shoe Carnival Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 20th. Investors of record on Monday, July 6th were issued a $0.17 dividend. The ex-dividend date of this dividend was Monday, July 6th. This represents a $0.68 annualized dividend and a yield of 4.4%. Shoe Carnival’s dividend payout ratio is currently 50.37%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SHOE. Bank of America Corp DE increased its position in shares of Shoe Carnival by 24.4% in the 1st quarter. Bank of America Corp DE now owns 69,853 shares of the company’s stock worth $1,089,000 after purchasing an additional 13,690 shares during the last quarter. Royal Bank of Canada lifted its position in shares of Shoe Carnival by 6.2% during the first quarter. Royal Bank of Canada now owns 97,107 shares of the company’s stock worth $1,514,000 after purchasing an additional 5,685 shares during the last quarter. Empowered Funds LLC grew its stake in Shoe Carnival by 17.9% in the first quarter. Empowered Funds LLC now owns 143,254 shares of the company’s stock worth $2,233,000 after purchasing an additional 21,714 shares in the last quarter. Quantinno Capital Management LP acquired a new position in Shoe Carnival in the first quarter worth about $220,000. Finally, Sei Investments Co. increased its holdings in Shoe Carnival by 69.7% in the first quarter. Sei Investments Co. now owns 155,660 shares of the company’s stock valued at $2,427,000 after buying an additional 63,912 shares during the last quarter. 66.05% of the stock is owned by institutional investors and hedge funds.

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.