BlackRock Fund Advisors recently announced the acquisition of new stake in Shoe Carnival Inc. (NASDAQ:SCVL). The institutional investor has increased its shareholding in the Consumer Cyclical company by 0.46% to 1.34 million shares with purchase of 6194.0 shares. This fresh investment now brings its stake to 9.50% valued currently at $32.87 million. In addition, Dimensional Fund Advisors LP raised its holdings by 10983.0 to 1.18 million shares. And Victory Capital Management, Inc.. has lifted its position by 576.89% or 0.3 million shares – to 0.35 million shares.
With over 1.16 million Shoe Carnival Inc. (SCVL) shares trading Tuesday and a closing price of $35.98 on the day, the dollar volume was approximately $41.78 million. The shares have shown a positive weekly performance of 33.61% and its price on 09/01/20 gained nearly 9.43%. Currently, there are 13.99M common shares owned by the public and among those 8.54M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 4 analysts who have offered their price forecasts for SCVL have a consensus price objective of $38.50. The analysts have set the share’s price value over the next 12 months at a high of $44.00 and a low of $35.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Shoe Carnival Inc. stock is 1.20 for the next 12 months. The average price target is 5.32% above its last price level and an upside to the estimated low will see the stock lose -2.8% over that period. But an upside of 18.23% will see the stock hit the forecast high price target while mean target price for the stock is $37.50.
Insiders at the company have transacted a total of 30 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 15 of these insider trades were purchases, accounting for 130,995 shares. Insider sales of the common stock occurred on 15 occasions, with total insider shares sold totaling 52,392 shares.
The top 3 mutual fund holders in Shoe Carnival Inc. are iShares Core S&P Small Cap ETF, DFA US Small Cap Value Portfolio, and Merian Glb. Invs. Ser. Plc – Glob. iShares Core S&P Small Cap ETF owns 0.56 million shares of the company’s stock, all valued at over $13.69 million. The company bought an additional 1974.0 shares recently to bring their total holdings to about 3.96% of the shares outstanding. Merian Glb. Invs. Ser. Plc – Glob bought 0.28 million shares to bring its total holdings to over 0.28 million shares at a value of $6.76 million. Merian Glb. Invs. Ser. Plc – Glob now owns shares totaling to 1.95% of the shares outstanding.
Shares of Shoe Carnival Inc. (NASDAQ: SCVL) opened at $33.50, up $0.62 from a prior closing price of $32.88. However, the script later closed the day at $35.98, up 9.43%. The company’s stock has a 5-day price change of 33.61% and 28.00% over the past three months. SCVL shares are trading -3.49% year to date (YTD), with the 12-month market performance up to 20.98% higher. It has a 12-month low price of $12.56 and touched a high of $40.00 over the same period. Currently, 1.16 million shares have been traded, compared to an average intraday trading volume of 169.50K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 33.64%, 31.30%, and 23.90% respectively.
Institutional ownership of Shoe Carnival Inc. (NASDAQ: SCVL) shares accounts for 79.70% of the company’s 13.99M shares outstanding. Mutual fund holders own 34.20%, while other institutional holders and individual stakeholders account for 48.95% and 28.47% respectively.
It has a market capitalization of $464.86M and a beta (3y monthly) value of 1.21. The stock’s trailing 12-month PE ratio is 43.25, while the earnings-per-share (ttm) stands at $0.83. The company has a PEG of 4.32 and a Quick Ratio of 0.20 with the debt-to-equity ratio at 0.00. Price movements for the stock have been influenced by the stock’s volatility, which stands at 7.12% over the week and 5.14% over the month.
Analysts forecast that Shoe Carnival Inc. (SCVL) will achieve an EPS of $0.97 for the current quarter, $0.22 for the next quarter and $3.26 for 2022. The lowest estimate earnings-per-share for the quarter is $0.81 while analysts give the company a high EPS estimate of $1.09. Comparatively, EPS for the current quarter was $0.94 a year ago. Earnings per share for the fiscal year are expected to increase by 19.40%, and 394.70% over the next financial year. EPS should shrink at an annualized rate of 10.00% over the next five years, compared to 18.20% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 4 brokerage firm advisors rate Shoe Carnival Inc. (SCVL) as a “Strong Buy” at a consensus score of 1.20. Specifically, 4 Wall Street analysts polled rate the stock as a buy, while 0 of the 4 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the SCVL, a number of firms have released research notes about the stock. Pivotal Research Group stated their Buy rating for the stock in a research note on July 01, 2020, with the firm’s price target at $37-$42. Pivotal Research Group coverage for the Shoe Carnival Inc. (SCVL) stock in a research note released on May 21, 2020 offered a Buy rating with a price target of $37. Pivotal Research Group was of a view on March 23, 2020 that the stock is Buy, while Pivotal Research Group gave the stock Buy rating on November 22, 2019, issuing a price target of $42- $43. Pivotal Research Group on their part issued Buy rating on May 23, 2019.