Shoe Carnival, Inc. $SHOE Stock: New South Capital Management Inc. Decreases Holdings

New South Capital Management Inc. cut its holdings in Shoe Carnival, Inc. (NASDAQ:SHOE) by 37.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 446,327 shares of the company’s stock after selling 270,822 shares during the quarter. New South Capital Management Inc.’s holdings in Shoe Carnival were worth $5,709,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Parallel Advisors LLC raised its stake in Shoe Carnival by 2,494.6% in the 3rd quarter. Parallel Advisors LLC now owns 2,880 shares of the company’s stock worth $37,000 after purchasing an additional 2,769 shares in the last quarter. State of Wyoming boosted its holdings in Shoe Carnival by 125.1% in the 3rd quarter. State of Wyoming now owns 9,285 shares of the company’s stock valued at $119,000 after purchasing an additional 5,160 shares during the period. North Star Investment Management Corp. boosted its holdings in Shoe Carnival by 22.6% in the 3rd quarter. North Star Investment Management Corp. now owns 135,000 shares of the company’s stock valued at $1,727,000 after purchasing an additional 24,925 shares during the period. Signaturefd LLC grew its position in shares of Shoe Carnival by 225.3% during the 3rd quarter. Signaturefd LLC now owns 7,657 shares of the company’s stock worth $98,000 after purchasing an additional 5,303 shares in the last quarter. Finally, SBI Securities Co. Ltd. grew its position in shares of Shoe Carnival by 500,000.0% during the 3rd quarter. SBI Securities Co. Ltd. now owns 5,001 shares of the company’s stock worth $64,000 after purchasing an additional 5,000 shares in the last quarter. 66.05% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on SHOE shares. Wall Street Zen cut shares of Shoe Carnival from a “hold” rating to a “sell” rating in a report on Sunday. Weiss Ratings upgraded Shoe Carnival from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, October 28th. Finally, Zacks Research upgraded Shoe Carnival from a “strong sell” rating to a “hold” rating in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Shoe Carnival currently has a consensus rating of “Moderate Buy” and an average target price of $22.00.

Shoe Carnival Trading Down 0.4%

NASDAQ:SHOE opened at $14.51 on Thursday. The company has a market cap of $394.38 million, a P/E ratio of 16.49 and a beta of 1.36. Shoe Carnival, Inc. has a fifty-two week low of $10.20 and a fifty-two week high of $21.61. The firm’s fifty day moving average is $13.60.

Shoe Carnival (NASDAQ:SHOE) last issued its quarterly earnings results on Thursday, September 10th. The company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.11). Shoe Carnival had a return on equity of 5.32% and a net margin of 2.20%. The company had revenue of $284.31 million during the quarter, compared to the consensus estimate of $299.19 million. During the same quarter in the previous year, the business posted $0.70 EPS. The firm’s revenue for the quarter was down 7.2% on a year-over-year basis. Shoe Carnival has set its FY 2026 guidance at 0.750-0.900 EPS. On average, analysts expect that Shoe Carnival, Inc. will post 0.85 EPS for the current fiscal year.

Shoe Carnival Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 20th. Investors of record on Tuesday, October 6th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, October 6th. This represents a $0.68 annualized dividend and a yield of 4.7%. Shoe Carnival’s dividend payout ratio is currently 77.27%.

About Shoe Carnival

Shoe Carnival, Inc. is a U.S. family footwear retailer that sells shoes and related accessories through its stores and e-commerce websites. Its merchandise includes athletic, casual and dress footwear for adults and children, along with select apparel and accessories. The company operates under the Shoe Carnival and Shoe Station brands. Its stores serve customers across multiple regions of the United States, and its online channels extend its reach beyond its physical locations. Founded in 1978, Shoe Carnival is headquartered in Fort Mill, South Carolina.