New South Capital Management Inc. Sells 270,822 Shares of Shoe Carnival, Inc. $SHOE

New South Capital Management Inc. decreased its holdings in Shoe Carnival, Inc. (NASDAQ:SHOE) by 37.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 446,327 shares of the company’s stock after selling 270,822 shares during the period. New South Capital Management Inc. owned about 1.64% of Shoe Carnival worth $5,709,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in SHOE. BlackRock Inc. bought a new position in shares of Shoe Carnival during the 2nd quarter worth approximately $29,007,000. State Street Corp acquired a new position in shares of Shoe Carnival during the 2nd quarter worth approximately $6,373,000. Gabelli Funds LLC bought a new stake in Shoe Carnival in the 2nd quarter valued at $2,071,000. Empowered Funds LLC bought a new stake in Shoe Carnival in the 2nd quarter valued at $1,682,000. Finally, Jefferies Financial Group Inc. bought a new stake in Shoe Carnival in the 2nd quarter valued at $1,606,000. 66.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SHOE has been the subject of several research reports. Zacks Research raised Shoe Carnival from a “strong sell” rating to a “hold” rating in a report on Tuesday. Wall Street Zen downgraded shares of Shoe Carnival from a “hold” rating to a “sell” rating in a report on Sunday. Finally, Weiss Ratings raised shares of Shoe Carnival from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, October 28th. One analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Shoe Carnival currently has a consensus rating of “Moderate Buy” and an average target price of $22.00.

Shoe Carnival Stock Performance

Shoe Carnival stock opened at $14.51 on Thursday. The firm has a 50-day moving average of $13.60. The company has a market cap of $394.38 million, a PE ratio of 16.49 and a beta of 1.36. Shoe Carnival, Inc. has a twelve month low of $10.20 and a twelve month high of $21.61.

Shoe Carnival (NASDAQ:SHOE) last issued its quarterly earnings data on Thursday, September 10th. The company reported $0.23 earnings per share (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 firm had revenue of $284.31 million for the quarter, compared to the consensus estimate of $299.19 million. During the same quarter in the prior year, the firm earned $0.70 EPS. The company’s revenue was down 7.2% on a year-over-year basis. Shoe Carnival has set its FY 2026 guidance at 0.750-0.900 EPS. As a group, equities analysts forecast that Shoe Carnival, Inc. will post 0.85 EPS for the current year.

Shoe Carnival Dividend Announcement

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

Shoe Carnival Company Profile

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.