Short Interest in Shoe Carnival, Inc. (NASDAQ:SCVL) Declines By 27.4%

Shoe Carnival, Inc. (NASDAQ:SCVL) was the recipient of a significant drop in short interest in the month of December. As of December 31st, there was short interest totaling 2,901,222 shares, a drop of 27.4% from the December 15th total of 3,997,513 shares. Based on an average daily volume of 919,804 shares, the short-interest ratio is presently 3.2 days. Approximately 16.4% of the shares of the stock are sold short. Approximately 16.4% of the shares of the stock are sold short. Based on an average daily volume of 919,804 shares, the short-interest ratio is presently 3.2 days.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of Shoe Carnival in a research report on Monday, December 29th. Wall Street Zen raised shares of Shoe Carnival from a “sell” rating to a “hold” rating in a research note on Friday, September 26th. Finally, Zacks Research downgraded shares of Shoe Carnival from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 25th. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold”.

Hedge Funds Weigh In On Shoe Carnival

A number of institutional investors and hedge funds have recently bought and sold shares of SCVL. First Horizon Advisors Inc. raised its position in shares of Shoe Carnival by 33.8% during the 2nd quarter. First Horizon Advisors Inc. now owns 1,923 shares of the company’s stock valued at $36,000 after acquiring an additional 486 shares in the last quarter. State of Alaska Department of Revenue increased its stake in shares of Shoe Carnival by 8.0% during the second quarter. State of Alaska Department of Revenue now owns 10,567 shares of the company’s stock valued at $196,000 after acquiring an additional 779 shares during the period. Huntington National Bank lifted its holdings in shares of Shoe Carnival by 164.8% in the third quarter. Huntington National Bank now owns 1,491 shares of the company’s stock valued at $31,000 after buying an additional 928 shares during the period. Prudential Financial Inc. grew its stake in shares of Shoe Carnival by 6.1% in the 2nd quarter. Prudential Financial Inc. now owns 18,768 shares of the company’s stock worth $351,000 after purchasing an additional 1,072 shares during the last quarter. Finally, Sonora Investment Management Group LLC boosted its position in shares of Shoe Carnival by 1.2% in the 3rd quarter. Sonora Investment Management Group LLC now owns 91,461 shares of the company’s stock valued at $1,901,000 after purchasing an additional 1,092 shares during the period. Hedge funds and other institutional investors own 66.05% of the company’s stock.

Shoe Carnival Trading Down 2.1%

Shoe Carnival stock opened at $18.98 on Friday. The stock has a fifty day moving average price of $17.75 and a 200 day moving average price of $19.86. Shoe Carnival has a 52 week low of $15.21 and a 52 week high of $30.92. The firm has a market capitalization of $519.67 million, a P/E ratio of 9.04 and a beta of 1.31.

Shoe Carnival (NASDAQ:SCVL) last issued its quarterly earnings results on Thursday, November 20th. The company reported $0.53 EPS for the quarter, hitting the consensus estimate of $0.53. The firm had revenue of $297.16 million during the quarter, compared to analyst estimates of $295.25 million. Shoe Carnival had a net margin of 5.06% and a return on equity of 8.75%. Shoe Carnival’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.71 earnings per share. Shoe Carnival has set its FY 2025 guidance at 1.800-2.100 EPS. As a group, equities analysts predict that Shoe Carnival will post 2.6 EPS for the current year.

Shoe Carnival announced that its Board of Directors has authorized a stock buyback program on Friday, December 12th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the company to buy up to 9.9% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Shoe Carnival Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 26th. Investors of record on Monday, January 12th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Monday, January 12th. Shoe Carnival’s dividend payout ratio is 28.57%.

About Shoe Carnival

Shoe Carnival, Inc (NASDAQ: SCVL) is a U.S.-based specialty retailer offering a broad assortment of footwear, apparel and accessories for the entire family. Through its network of brick-and-mortar stores and e-commerce platform, the company provides casual, athletic and dress shoes for men, women and children, as well as complementary apparel, handbags, socks and other accessories designed to deliver value and variety. Its distinctive in-store carnival host service model aims to create an engaging shopping experience and foster customer loyalty.

Founded in 1978 and headquartered in Evansville, Indiana, Shoe Carnival has expanded over four decades to operate more than 350 retail locations across over 30 states.