Shoe Carnival (NASDAQ:SHOE) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Shoe Carnival, Inc. (NASDAQ:SHOE) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $0.00 and traded as high as $14.92. Shoe Carnival shares last traded at $14.86, with a volume of 680,641 shares.

Analysts Set New Price Targets

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

Shoe Carnival Stock Up 1.0%

The stock has a market cap of $399.92 million, a P/E ratio of 10.91 and a beta of 1.43.

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

Shoe Carnival Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 20th. Shareholders of record on Monday, July 6th were paid a $0.17 dividend. The ex-dividend date was Monday, July 6th. This represents a $0.68 dividend on an annualized basis and a yield of 4.6%. Shoe Carnival’s dividend payout ratio (DPR) is currently 50.37%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SHOE. ProShare Advisors LLC lifted its stake in Shoe Carnival by 33.1% in the 4th quarter. ProShare Advisors LLC now owns 340,912 shares of the company’s stock valued at $5,755,000 after purchasing an additional 84,861 shares during the last quarter. Meros Investment Management LP acquired a new position in Shoe Carnival during the fourth quarter worth approximately $7,007,000. Hsbc Holdings PLC raised its stake in Shoe Carnival by 123.5% in the fourth quarter. Hsbc Holdings PLC now owns 81,871 shares of the company’s stock valued at $1,392,000 after buying an additional 45,246 shares during the period. Royce & Associates LP raised its stake in Shoe Carnival by 38.6% in the fourth quarter. Royce & Associates LP now owns 577,201 shares of the company’s stock valued at $9,743,000 after buying an additional 160,747 shares during the period. Finally, Pacific Ridge Capital Partners LLC bought a new stake in Shoe Carnival in the fourth quarter valued at approximately $2,573,000. 66.05% of the stock is currently 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.