PDT Partners LLC Acquires New Shares in Shoe Carnival, Inc. $SHOE

PDT Partners LLC acquired a new position in shares of Shoe Carnival, Inc. (NASDAQ:SHOE) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 67,254 shares of the company’s stock, valued at approximately $997,000. PDT Partners LLC owned 0.25% of Shoe Carnival at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. ProShare Advisors LLC increased its stake in Shoe Carnival by 33.1% during the 4th quarter. ProShare Advisors LLC now owns 340,912 shares of the company’s stock worth $5,755,000 after purchasing an additional 84,861 shares in the last quarter. Denali Advisors LLC acquired a new stake in Shoe Carnival during the 2nd quarter worth approximately $1,074,000. Gabelli Funds LLC bought a new position in Shoe Carnival in the second quarter valued at approximately $2,071,000. Meros Investment Management LP bought a new position in Shoe Carnival in the fourth quarter valued at approximately $7,007,000. Finally, Sei Investments Co. boosted its holdings in shares of Shoe Carnival by 69.7% in the first quarter. Sei Investments Co. now owns 155,660 shares of the company’s stock valued at $2,427,000 after buying an additional 63,912 shares during the period. 66.05% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

SHOE has been the subject of several research reports. Weiss Ratings assumed coverage on shares of Shoe Carnival in a research report on Monday, June 15th. They set a “hold (c-)” rating for the company. Zacks Research cut shares of Shoe Carnival from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 12th. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $22.00.

Shoe Carnival Stock Performance

NASDAQ:SHOE opened at $13.84 on Friday. The company has a market capitalization of $375.76 million, a P/E ratio of 10.25 and a beta of 1.43. Shoe Carnival, Inc. has a 52-week low of $13.55 and a 52-week high of $26.57. The stock’s 50-day moving average price is $15.26.

Shoe Carnival (NASDAQ:SHOE) last announced its earnings results on Thursday, May 21st. The company reported $0.23 earnings per share (EPS) for the quarter. The business had revenue of $270.73 million for the quarter. Shoe Carnival had a return on equity of 7.24% and a net margin of 3.31%. On average, research analysts anticipate that Shoe Carnival, Inc. will post 1.5 EPS for the current year.

Shoe Carnival Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 20th. Stockholders of record on Monday, July 6th were issued a $0.17 dividend. The ex-dividend date was Monday, July 6th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.9%. Shoe Carnival’s dividend payout ratio (DPR) is 50.37%.

Shoe Carnival Profile

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.