Shoe Carnival, Inc. (NASDAQ:SCVL) Short Interest Update

Shoe Carnival, Inc. (NASDAQ:SCVL) was the recipient of a significant growth in short interest in March. As of March 15th, there was short interest totalling 3,850,000 shares, a growth of 27.1% from the February 28th total of 3,030,000 shares. Based on an average daily trading volume, of 493,600 shares, the short-interest ratio is presently 7.8 days. Currently, 21.7% of the shares of the company are sold short.

Shoe Carnival Price Performance

SCVL stock traded up $0.53 during midday trading on Tuesday, hitting $22.52. 71,566 shares of the stock traded hands, compared to its average volume of 337,825. Shoe Carnival has a 1-year low of $20.51 and a 1-year high of $46.92. The stock’s fifty day simple moving average is $24.08 and its 200-day simple moving average is $32.04. The firm has a market cap of $611.98 million, a P/E ratio of 8.29 and a beta of 1.50.

Shoe Carnival (NASDAQ:SCVL) last posted its earnings results on Thursday, March 20th. The company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.12. Shoe Carnival had a return on equity of 12.52% and a net margin of 6.12%. The firm had revenue of $262.90 million for the quarter, compared to analysts’ expectations of $277.89 million. During the same period last year, the firm earned $0.59 EPS. The company’s quarterly revenue was down 6.2% on a year-over-year basis. On average, research analysts predict that Shoe Carnival will post 2.6 earnings per share for the current year.

Shoe Carnival declared that its Board of Directors has initiated a share repurchase plan on Thursday, December 12th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the company to buy up to 5.2% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Shoe Carnival Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, April 7th will be given a $0.15 dividend. The ex-dividend date is Monday, April 7th. This is a boost from Shoe Carnival’s previous quarterly dividend of $0.14. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.66%. Shoe Carnival’s payout ratio is 22.39%.

Institutional Investors Weigh In On Shoe Carnival

Institutional investors have recently added to or reduced their stakes in the stock. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Shoe Carnival during the fourth quarter valued at $2,513,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Shoe Carnival by 19.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 59,740 shares of the company’s stock worth $1,976,000 after purchasing an additional 9,671 shares during the last quarter. Voloridge Investment Management LLC purchased a new position in Shoe Carnival in the 4th quarter valued at about $1,231,000. Wolverine Trading LLC purchased a new position in Shoe Carnival in the 4th quarter valued at about $372,000. Finally, Vident Advisory LLC acquired a new stake in Shoe Carnival in the 4th quarter worth about $486,000. 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.