Shoe Carnival, Inc. (NASDAQ:SCVL) Declares Quarterly Dividend of $0.17

Shoe Carnival, Inc. (NASDAQ:SCVL) declared a quarterly dividend on Monday, March 9th. Stockholders of record on Monday, April 6th will be paid a dividend of 0.17 per share on Monday, April 20th. This represents a c) annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Monday, April 6th. This is a 13.3% increase from Shoe Carnival’s previous quarterly dividend of $0.15.

Shoe Carnival has raised its dividend by an average of 0.3%per year over the last three years and has increased its dividend every year for the last 14 years. Shoe Carnival has a dividend payout ratio of 30.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Shoe Carnival to earn $2.93 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 20.5%.

Shoe Carnival Trading Down 0.5%

Shares of Shoe Carnival stock traded down $0.09 during trading on Tuesday, hitting $18.81. 8,046 shares of the stock were exchanged, compared to its average volume of 383,177. Shoe Carnival has a 1-year low of $15.21 and a 1-year high of $26.57. The company has a fifty day moving average price of $19.42 and a 200-day moving average price of $19.55. The stock has a market capitalization of $515.07 million, a price-to-earnings ratio of 8.91 and a beta of 1.34.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Arrowstreet Capital Limited Partnership raised its holdings in Shoe Carnival by 51.8% in the second quarter. Arrowstreet Capital Limited Partnership now owns 642,771 shares of the company’s stock valued at $12,026,000 after acquiring an additional 219,443 shares in the last quarter. CSM Advisors LLC acquired a new stake in shares of Shoe Carnival during the second quarter valued at $922,000. Quantbot Technologies LP increased its stake in shares of Shoe Carnival by 131.0% during the 2nd quarter. Quantbot Technologies LP now owns 99,009 shares of the company’s stock valued at $1,852,000 after acquiring an additional 56,151 shares during the last quarter. Hodges Capital Management Inc. grew its stake in Shoe Carnival by 14.0% during the second quarter. Hodges Capital Management Inc. now owns 438,420 shares of the company’s stock worth $8,203,000 after buying an additional 53,680 shares during the period. Finally, Personal CFO Solutions LLC acquired a new position in Shoe Carnival in the 2nd quarter worth $209,000. 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.