Shoe Carnival, Inc. (NASDAQ:SCVL) Increases Dividend to $0.14 Per Share

Shoe Carnival, Inc. (NASDAQ:SCVLGet Free Report) announced a quarterly dividend on Wednesday, March 13th, Zacks reports. Stockholders of record on Monday, April 8th will be paid a dividend of 0.135 per share on Monday, April 22nd. This represents a $0.54 annualized dividend and a dividend yield of 1.50%. The ex-dividend date of this dividend is Friday, April 5th. This is a positive change from Shoe Carnival’s previous quarterly dividend of $0.12.

Shoe Carnival has increased its dividend payment by an average of 32.8% annually over the last three years and has increased its dividend annually for the last 12 consecutive years. Shoe Carnival has a dividend payout ratio of 15.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Shoe Carnival to earn $3.00 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 16.0%.

Shoe Carnival Price Performance

Shares of SCVL stock opened at $35.95 on Wednesday. The stock has a market capitalization of $974.25 million, a PE ratio of 13.41 and a beta of 1.56. The business’s 50 day simple moving average is $30.87 and its 200 day simple moving average is $27.26. Shoe Carnival has a one year low of $19.24 and a one year high of $37.08.

Shoe Carnival (NASDAQ:SCVLGet Free Report) last posted its quarterly earnings data on Thursday, March 21st. The company reported $0.59 EPS for the quarter, meeting analysts’ consensus estimates of $0.59. Shoe Carnival had a net margin of 6.24% and a return on equity of 13.17%. The company had revenue of $280.20 million for the quarter, compared to analyst estimates of $280.30 million. During the same period in the prior year, the firm posted $0.79 EPS. The company’s quarterly revenue was down 3.6% on a year-over-year basis. As a group, research analysts expect that Shoe Carnival will post 2.65 earnings per share for the current year.

Wall Street Analyst Weigh In

SCVL has been the subject of a number of recent analyst reports. Williams Trading upgraded Shoe Carnival from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a report on Friday, March 22nd. Monness Crespi & Hardt downgraded Shoe Carnival from a “buy” rating to a “neutral” rating in a report on Tuesday, March 19th.

Get Our Latest Stock Report on SCVL

Insider Activity at Shoe Carnival

In other Shoe Carnival news, EVP Carl N. Scibetta sold 5,415 shares of the firm’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $35.45, for a total value of $191,961.75. Following the completion of the sale, the executive vice president now directly owns 118,077 shares in the company, valued at $4,185,829.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 34.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SCVL. Nebula Research & Development LLC bought a new stake in shares of Shoe Carnival during the fourth quarter valued at approximately $224,000. Wells Fargo & Company MN grew its position in Shoe Carnival by 120.2% in the 2nd quarter. Wells Fargo & Company MN now owns 9,267 shares of the company’s stock valued at $218,000 after purchasing an additional 5,059 shares during the period. Quadrature Capital Ltd bought a new stake in Shoe Carnival during the 3rd quarter valued at $207,000. Marshall Wace LLP bought a new stake in Shoe Carnival during the 2nd quarter valued at $202,000. Finally, B. Riley Wealth Advisors Inc. acquired a new position in Shoe Carnival during the first quarter worth $200,000. 66.05% of the stock is owned by institutional investors and hedge funds.

Shoe Carnival Company Profile

(Get Free Report)

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 sells its products through online shopping at shoecarnival.com, as well as through mobile application.

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Dividend History for Shoe Carnival (NASDAQ:SCVL)

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