Investors Purchase Large Volume of Shoe Carnival Call Options (SCVL)

Shoe Carnival, Inc. (NASDAQ:SCVL) was the target of unusually large options trading on Tuesday. Investors bought 2,033 call options on the company. This is an increase of 1,818% compared to the typical volume of 106 call options.

Shares of Shoe Carnival (NASDAQ:SCVL) opened at $26.41 on Friday. Shoe Carnival has a 12 month low of $15.07 and a 12 month high of $28.38. The stock has a market capitalization of $447.70, a PE ratio of 19.28, a PEG ratio of 1.46 and a beta of 1.06.

Shoe Carnival (NASDAQ:SCVL) last issued its quarterly earnings data on Thursday, November 16th. The company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.08. Shoe Carnival had a return on equity of 7.81% and a net margin of 2.17%. The firm had revenue of $287.47 million during the quarter, compared to analyst estimates of $286.90 million. research analysts expect that Shoe Carnival will post 1.48 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, January 22nd. Investors of record on Monday, January 8th will be issued a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 1.14%. The ex-dividend date of this dividend is Friday, January 5th. Shoe Carnival’s dividend payout ratio (DPR) is 21.90%.

Shoe Carnival announced that its Board of Directors has authorized a stock repurchase plan on Tuesday, December 19th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

A number of institutional investors have recently made changes to their positions in SCVL. Foundry Partners LLC acquired a new position in shares of Shoe Carnival during the 3rd quarter valued at $4,080,000. Northern Trust Corp increased its position in shares of Shoe Carnival by 17.8% during the 2nd quarter. Northern Trust Corp now owns 673,302 shares of the company’s stock valued at $14,059,000 after purchasing an additional 101,530 shares during the period. Hillsdale Investment Management Inc. acquired a new position in shares of Shoe Carnival during the 3rd quarter valued at $1,338,000. Citadel Advisors LLC acquired a new position in shares of Shoe Carnival during the 2nd quarter valued at $1,233,000. Finally, JPMorgan Chase & Co. grew its holdings in shares of Shoe Carnival by 592.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 52,365 shares of the company’s stock worth $1,094,000 after acquiring an additional 44,807 shares during the last quarter. 66.01% of the stock is currently owned by hedge funds and other institutional investors.

SCVL has been the subject of a number of analyst reports. Susquehanna Bancshares reissued a “buy” rating and set a $28.00 price objective on shares of Shoe Carnival in a research report on Friday, November 17th. Sidoti cut Shoe Carnival from a “buy” rating to a “neutral” rating and set a $24.00 target price for the company. in a research note on Tuesday, October 3rd. Zacks Investment Research cut Shoe Carnival from a “buy” rating to a “hold” rating in a research note on Tuesday, September 19th. Jefferies Group set a $22.00 price objective on Shoe Carnival and gave the company a “hold” rating in a research note on Saturday, November 18th. Finally, BidaskClub raised Shoe Carnival from a “sell” rating to a “hold” rating in a report on Thursday, December 21st. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Shoe Carnival presently has a consensus rating of “Hold” and a consensus price target of $25.86.

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About Shoe Carnival

Shoe Carnival, Inc is a family footwear retailer. The Company’s primary activity is the sale of footwear and related products through its retail stores in approximately 30 states within the continental United States and in Puerto Rico. It also offers online shopping on its e-commerce site at www.shoecarnival.com.

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