Shoe Carnival (NASDAQ:SCVL) Sets New 1-Year Low - Time to Sell?

Shoe Carnival, Inc. (NASDAQ:SCVL - Get Free Report) hit a new 52-week low on Friday . The stock traded as low as $19.15 and last traded at $19.24, with a volume of 1102809 shares trading hands. The stock had previously closed at $23.00.

Shoe Carnival Stock Performance

The business has a 50 day simple moving average of $23.22 and a 200-day simple moving average of $31.25. The firm has a market cap of $524.48 million, a price-to-earnings ratio of 7.09 and a beta of 1.35.

Shoe Carnival (NASDAQ:SCVL - Get Free Report) last announced its earnings results on Thursday, March 20th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.12. The company had revenue of $262.90 million for the quarter, compared to analysts' expectations of $277.89 million. Shoe Carnival had a return on equity of 12.52% and a net margin of 6.12%. Shoe Carnival's quarterly revenue was down 6.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.59 earnings per share. As a group, research analysts anticipate that Shoe Carnival, Inc. will post 2.6 earnings per share for the current year.

Shoe Carnival Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, April 7th will be issued a $0.15 dividend. The ex-dividend date is Monday, April 7th. This represents a $0.60 annualized dividend and a dividend yield of 3.11%. This is an increase from Shoe Carnival's previous quarterly dividend of $0.14. Shoe Carnival's dividend payout ratio is currently 22.39%.

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Shoe Carnival declared that its board has authorized a stock repurchase program on Thursday, December 12th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 5.2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its shares are undervalued.

Institutional Investors Weigh In On Shoe Carnival

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company boosted its stake in shares of Shoe Carnival by 31.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 9,561 shares of the company's stock worth $419,000 after buying an additional 2,290 shares during the last quarter. FMR LLC boosted its position in Shoe Carnival by 8.7% in the third quarter. FMR LLC now owns 4,266 shares of the company's stock worth $187,000 after purchasing an additional 343 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Shoe Carnival by 16.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 50,069 shares of the company's stock valued at $2,196,000 after purchasing an additional 6,946 shares during the period. Point72 Asset Management L.P. purchased a new stake in shares of Shoe Carnival during the 3rd quarter valued at $346,000. Finally, Quarry LP bought a new stake in shares of Shoe Carnival during the 3rd quarter worth $66,000. Hedge funds and other institutional investors own 66.05% 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 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.