Insider Selling: Shoe Carnival (SCVL) CEO Sells 7,500 Shares of Stock

Shoe Carnival (NASDAQ:SCVL) CEO Clifton E. Sifford sold 7,500 shares of Shoe Carnival stock in a transaction on Wednesday, April 4th. The shares were sold at an average price of $23.75, for a total value of $178,125.00. Following the transaction, the chief executive officer now owns 238,903 shares of the company’s stock, valued at approximately $5,673,946.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of Shoe Carnival stock traded up $0.08 on Friday, reaching $23.86. The company’s stock had a trading volume of 156,157 shares, compared to its average volume of 348,624. The firm has a market cap of $392.86, a price-to-earnings ratio of 16.01, a PEG ratio of 1.04 and a beta of 0.81. Shoe Carnival has a 52 week low of $15.07 and a 52 week high of $28.38.

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Shoe Carnival (NASDAQ:SCVL) last posted its earnings results on Tuesday, March 27th. The company reported $0.11 EPS for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.02. The business had revenue of $243.23 million during the quarter, compared to analyst estimates of $248.19 million. Shoe Carnival had a return on equity of 8.02% and a net margin of 1.86%. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.07 EPS. research analysts expect that Shoe Carnival will post 1.92 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 23rd. Shareholders of record on Monday, April 9th will be issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date is Friday, April 6th. Shoe Carnival’s payout ratio is 20.13%.

Shoe Carnival announced that its board has approved a share buyback program on Tuesday, December 19th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Institutional investors have recently bought and sold shares of the business. California Public Employees Retirement System increased its holdings in shares of Shoe Carnival by 24.5% in the 3rd quarter. California Public Employees Retirement System now owns 61,990 shares of the company’s stock worth $1,387,000 after purchasing an additional 12,190 shares in the last quarter. Two Sigma Investments LP increased its holdings in shares of Shoe Carnival by 21.9% in the 4th quarter. Two Sigma Investments LP now owns 112,208 shares of the company’s stock worth $3,002,000 after purchasing an additional 20,165 shares in the last quarter. Citadel Advisors LLC grew its holdings in shares of Shoe Carnival by 39.2% in the fourth quarter. Citadel Advisors LLC now owns 152,856 shares of the company’s stock worth $4,089,000 after acquiring an additional 43,054 shares during the period. OxFORD Asset Management LLP grew its holdings in shares of Shoe Carnival by 100.5% in the third quarter. OxFORD Asset Management LLP now owns 51,784 shares of the company’s stock worth $1,152,000 after acquiring an additional 25,952 shares during the period. Finally, Kennedy Capital Management Inc. grew its holdings in shares of Shoe Carnival by 20.0% in the fourth quarter. Kennedy Capital Management Inc. now owns 196,711 shares of the company’s stock worth $5,262,000 after acquiring an additional 32,750 shares during the period. 78.20% of the stock is owned by institutional investors and hedge funds.

A number of research analysts have issued reports on SCVL shares. Jefferies Group reiterated a “hold” rating and set a $24.00 price objective on shares of Shoe Carnival in a research note on Wednesday, March 28th. Zacks Investment Research cut Shoe Carnival from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. Wedbush reiterated a “buy” rating and set a $33.00 price objective (up previously from $27.00) on shares of Shoe Carnival in a research note on Tuesday, December 19th. Pivotal Research upgraded Shoe Carnival from a “hold” rating to a “buy” rating and lifted their price objective for the company from $29.00 to $30.00 in a research note on Friday, March 16th. Finally, TheStreet cut Shoe Carnival from a “b” rating to a “c+” rating in a research note on Wednesday, March 28th. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $26.43.

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Shoe Carnival Company Profile

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

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