Shoe Carnival (NASDAQ:SCVL) Reaches New 12-Month Low - What's Next?

Shoe Carnival, Inc. (NASDAQ:SCVL - Get Free Report) shares hit a new 52-week low on Monday . The stock traded as low as $25.38 and last traded at $25.46, with a volume of 14892 shares. The stock had previously closed at $25.74.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Shoe Carnival from a "sell" rating to a "hold" rating in a report on Saturday, November 30th.

Shoe Carnival Stock Down 1.1 %

The firm has a fifty day moving average of $31.09 and a 200-day moving average of $36.37. The firm has a market cap of $674.25 million, a P/E ratio of 9.12 and a beta of 1.50.

Shoe Carnival (NASDAQ:SCVL - Get Free Report) last released its quarterly earnings data on Thursday, November 21st. The company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.70 by $0.01. Shoe Carnival had a return on equity of 12.52% and a net margin of 6.12%. The company had revenue of $306.90 million during the quarter, compared to the consensus estimate of $316.97 million. During the same quarter in the prior year, the firm posted $0.80 EPS. The firm's revenue for the quarter was down 4.1% compared to the same quarter last year. On average, equities analysts forecast that Shoe Carnival, Inc. will post 2.6 EPS for the current year.

Shoe Carnival Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 27th. Shareholders of record on Monday, January 13th were given a dividend of $0.135 per share. The ex-dividend date was Monday, January 13th. This represents a $0.54 dividend on an annualized basis and a yield of 2.18%. Shoe Carnival's dividend payout ratio (DPR) is 19.85%.

Shoe Carnival announced that its board has initiated a share repurchase program on Thursday, December 12th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the company to reacquire up to 5.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board believes its stock is undervalued.

Insider Activity at Shoe Carnival

In other news, Chairman Wayne J. Weaver acquired 285,500 shares of the firm's stock in a transaction on Friday, December 6th. The shares were purchased at an average cost of $33.91 per share, with a total value of $9,681,305.00. Following the acquisition, the chairman now directly owns 4,173,529 shares in the company, valued at $141,524,368.39. This represents a 7.34 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 34.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Shoe Carnival

Hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC increased its position in Shoe Carnival by 8.7% during the third quarter. FMR LLC now owns 4,266 shares of the company's stock worth $187,000 after acquiring an additional 343 shares during the period. Sei Investments Co. raised its position in shares of Shoe Carnival by 0.8% in the fourth quarter. Sei Investments Co. now owns 56,940 shares of the company's stock valued at $1,884,000 after buying an additional 437 shares in the last quarter. Sterling Capital Management LLC boosted its stake in shares of Shoe Carnival by 5.8% in the fourth quarter. Sterling Capital Management LLC now owns 9,284 shares of the company's stock valued at $307,000 after buying an additional 511 shares during the period. Foundry Partners LLC grew its position in Shoe Carnival by 0.6% during the third quarter. Foundry Partners LLC now owns 149,735 shares of the company's stock worth $6,566,000 after buying an additional 940 shares in the last quarter. Finally, Tectonic Advisors LLC increased its stake in Shoe Carnival by 2.2% during the 3rd quarter. Tectonic Advisors LLC now owns 48,986 shares of the company's stock worth $2,148,000 after acquiring an additional 1,056 shares during the period. Institutional investors and hedge funds own 66.05% of the company's stock.

Shoe Carnival Company Profile

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.