Insider Selling: Shoe Carnival, Inc. (NASDAQ:SCVL) Director Sells 702 Shares of Stock

Shoe Carnival, Inc. (NASDAQ:SCVL) Director Andrea R. Guthrie sold 702 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $35.58, for a total value of $24,977.16. Following the completion of the sale, the director now owns 21,576 shares of the company’s stock, valued at approximately $767,674.08. This represents a 3.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Shoe Carnival Price Performance

SCVL stock opened at $34.92 on Thursday. The company has a market capitalization of $948.78 million, a P/E ratio of 12.84 and a beta of 1.53. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.89 and a current ratio of 3.88. Shoe Carnival, Inc. has a 52-week low of $24.74 and a 52-week high of $46.92. The business has a 50-day simple moving average of $37.17 and a two-hundred day simple moving average of $38.63.

Shoe Carnival (NASDAQ:SCVL) last posted its earnings results on Thursday, November 21st. The company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.70 by $0.01. Shoe Carnival had a net margin of 6.12% and a return on equity of 12.52%. The firm had revenue of $306.90 million for the quarter, compared to analysts’ expectations of $316.97 million. During the same quarter last year, the firm earned $0.80 EPS. The company’s quarterly revenue was down 4.1% compared to the same quarter last year. Research analysts expect that Shoe Carnival, Inc. will post 2.6 EPS for the current fiscal year.

Shoe Carnival Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Monday, October 7th were given a dividend of $0.135 per share. The ex-dividend date was Monday, October 7th. This represents a $0.54 annualized dividend and a dividend yield of 1.55%. Shoe Carnival’s dividend payout ratio is currently 19.85%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. StockNews.com upgraded Shoe Carnival from a “sell” rating to a “hold” rating in a research note on Saturday, November 30th. Williams Trading lifted their price target on Shoe Carnival from $42.00 to $51.00 and gave the company a “buy” rating in a research note on Thursday, August 29th.

Hedge Funds Weigh In On Shoe Carnival

Hedge funds have recently modified their holdings of the company. Innealta Capital LLC bought a new stake in shares of Shoe Carnival in the 2nd quarter worth approximately $41,000. Harvest Fund Management Co. Ltd bought a new stake in shares of Shoe Carnival in the 3rd quarter worth approximately $62,000. Quarry LP bought a new stake in shares of Shoe Carnival in the 3rd quarter worth approximately $66,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Shoe Carnival in the 3rd quarter worth approximately $76,000. Finally, FMR LLC raised its holdings in shares of Shoe Carnival by 8.7% in the 3rd quarter. FMR LLC now owns 4,266 shares of the company’s stock worth $187,000 after purchasing an additional 343 shares during the period. Institutional investors own 66.05% of the company’s stock.

Shoe Carnival Company Profile

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.