BidaskClub lowered shares of Shoe Carnival (NASDAQ:SCVL) from a buy rating to a hold rating in a research note published on Friday morning.

Several other research analysts have also recently commented on SCVL. Zacks Investment Research cut shares of Shoe Carnival from a strong-buy rating to a hold rating in a report on Wednesday, October 31st. UBS Group upgraded shares of Shoe Carnival from a neutral rating to a positive rating in a report on Wednesday, January 2nd. ValuEngine cut shares of Shoe Carnival from a buy rating to a hold rating in a report on Thursday, December 6th. Pivotal Research reiterated a buy rating and issued a $45.00 target price (down from $47.00) on shares of Shoe Carnival in a report on Tuesday, January 15th. Finally, Wedbush decreased their target price on shares of Shoe Carnival from $47.00 to $45.00 and set an outperform rating for the company in a report on Friday, November 16th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $38.83.

Shoe Carnival stock opened at $34.99 on Friday. Shoe Carnival has a 52-week low of $21.72 and a 52-week high of $45.00. The firm has a market capitalization of $540.04 million, a PE ratio of 23.48 and a beta of 0.78.

Shoe Carnival (NASDAQ:SCVL) last released its quarterly earnings data on Thursday, November 15th. The company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.15. The company had revenue of $269.18 million during the quarter, compared to analyst estimates of $265.40 million. Shoe Carnival had a net margin of 3.17% and a return on equity of 12.51%. Research analysts forecast that Shoe Carnival will post 2.42 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, January 28th. Shareholders of record on Monday, January 14th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.91%. The ex-dividend date of this dividend was Friday, January 11th. Shoe Carnival’s payout ratio is 21.48%.

In related news, Director Kent A. Kleeberger sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 21st. The shares were sold at an average price of $36.77, for a total transaction of $55,155.00. Following the completion of the sale, the director now directly owns 14,960 shares in the company, valued at $550,079.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kent A. Kleeberger sold 1,074 shares of the firm’s stock in a transaction that occurred on Thursday, December 27th. The stock was sold at an average price of $33.98, for a total transaction of $36,494.52. Following the sale, the director now owns 13,886 shares of the company’s stock, valued at $471,846.28. The disclosure for this sale can be found here. Company insiders own 22.70% of the company’s stock.

Several hedge funds have recently bought and sold shares of the stock. Smith Asset Management Group LP acquired a new position in Shoe Carnival during the 4th quarter worth about $69,000. Oppenheimer Asset Management Inc. acquired a new stake in Shoe Carnival during the 4th quarter valued at $111,000. Oregon Public Employees Retirement Fund acquired a new stake in Shoe Carnival during the 4th quarter valued at $128,000. LS Investment Advisors LLC lifted its holdings in Shoe Carnival by 1,049.6% during the 4th quarter. LS Investment Advisors LLC now owns 4,127 shares of the company’s stock valued at $138,000 after purchasing an additional 3,768 shares during the last quarter. Finally, Pacer Advisors Inc. acquired a new stake in Shoe Carnival during the 3rd quarter valued at $157,000. Institutional investors and hedge funds own 87.30% of the company’s stock.

About Shoe Carnival

Shoe Carnival, Inc, together with its subsidiaries, operates as a family footwear retailer in the United States. The company offers various dress, casual, and athletic footwear products for men, women, and children; and accessories, such as socks, belts, shoe care items, handbags, sport bags, backpacks, jewelry, scarves, and wallets.

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Analyst Recommendations for Shoe Carnival (NASDAQ:SCVL)

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