Shoe Carnival (SCVL) Downgraded by BidaskClub to “Hold”

BidaskClub downgraded shares of Shoe Carnival (NASDAQ:SCVL) from a buy rating to a hold rating in a report published on Friday.

Other research analysts have also recently issued research reports about the company. Pivotal Research restated a buy rating and issued a $45.00 price target (down previously from $47.00) on shares of Shoe Carnival in a research report on Tuesday, January 15th. ValuEngine upgraded Shoe Carnival from a hold rating to a buy rating in a research report on Thursday, January 3rd. Zacks Investment Research raised Shoe Carnival from a hold rating to a buy rating and set a $45.00 price objective on the stock in a research note on Thursday, November 15th. Wedbush reduced their price objective on Shoe Carnival from $47.00 to $45.00 and set an outperform rating on the stock in a research note on Friday, November 16th. Finally, Susquehanna Bancshares raised Shoe Carnival from a neutral rating to a positive rating and set a $42.00 price objective on the stock in a research note on Wednesday, January 2nd. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $38.83.

Shares of NASDAQ SCVL opened at $34.99 on Friday. Shoe Carnival has a 52 week low of $21.72 and a 52 week high of $45.00. The firm has a market capitalization of $540.04 million, a P/E ratio of 23.48 and a beta of 0.78.

Shoe Carnival (NASDAQ:SCVL) last issued its quarterly earnings results on Thursday, November 15th. The company reported $0.76 EPS for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.15. Shoe Carnival had a return on equity of 12.51% and a net margin of 3.17%. The company had revenue of $269.18 million for the quarter, compared to analysts’ expectations of $265.40 million. On average, analysts expect that Shoe Carnival will post 2.42 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 28th. Investors of record on Monday, January 14th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.91%. The ex-dividend date was Friday, January 11th. Shoe Carnival’s dividend payout ratio (DPR) is presently 21.48%.

In related news, Director Kent A. Kleeberger sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, November 21st. The stock was sold at an average price of $36.77, for a total value of $55,155.00. Following the sale, the director now directly owns 14,960 shares of the company’s stock, valued at $550,079.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kent A. Kleeberger sold 1,074 shares of the firm’s stock in a transaction dated Thursday, December 27th. The shares were sold at an average price of $33.98, for a total value of $36,494.52. Following the completion of the sale, the director now directly owns 13,886 shares in the company, valued at $471,846.28. The disclosure for this sale can be found here. Company insiders own 22.70% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in SCVL. Smith Asset Management Group LP acquired a new stake in shares of Shoe Carnival during the fourth quarter valued at about $69,000. Oppenheimer Asset Management Inc. acquired a new position in shares of Shoe Carnival in the fourth quarter worth approximately $111,000. Oregon Public Employees Retirement Fund acquired a new position in shares of Shoe Carnival in the fourth quarter worth approximately $128,000. LS Investment Advisors LLC lifted its stake in shares of Shoe Carnival by 1,049.6% in the fourth quarter. LS Investment Advisors LLC now owns 4,127 shares of the company’s stock worth $138,000 after acquiring an additional 3,768 shares during the period. Finally, Pacer Advisors Inc. acquired a new position in shares of Shoe Carnival in the third quarter worth approximately $157,000. 87.30% of the stock is currently owned by institutional investors and hedge funds.

Shoe Carnival Company Profile

Shoe Carnival, Inc, together with its subsidiaries, operates as a family footwear retailer in the United States. The company offers various dress, casual, and athletic footwear products for men, women, and children; and accessories, such as socks, belts, shoe care items, handbags, sport bags, backpacks, jewelry, scarves, and wallets.

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Analyst Recommendations for Shoe Carnival (NASDAQ:SCVL)

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