PDT Partners LLC Invests $997,000 in Shoe Carnival, Inc. $SHOE

PDT Partners LLC acquired a new stake in Shoe Carnival, Inc. (NASDAQ:SHOE) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 67,254 shares of the company’s stock, valued at approximately $997,000.

Several other hedge funds also recently modified their holdings of the stock. BlackRock Inc. acquired a new position in Shoe Carnival during the second quarter valued at approximately $29,007,000. Dimensional Fund Advisors LP increased its position in shares of Shoe Carnival by 2.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,651,332 shares of the company’s stock worth $25,744,000 after purchasing an additional 44,759 shares during the last quarter. New South Capital Management Inc. increased its position in shares of Shoe Carnival by 10.3% during the 4th quarter. New South Capital Management Inc. now owns 744,519 shares of the company’s stock worth $12,567,000 after purchasing an additional 69,474 shares during the last quarter. Royce & Associates LP increased its position in shares of Shoe Carnival by 38.6% during the 4th quarter. Royce & Associates LP now owns 577,201 shares of the company’s stock worth $9,743,000 after purchasing an additional 160,747 shares during the last quarter. Finally, Hodges Capital Management Inc. raised its stake in shares of Shoe Carnival by 2.3% during the 4th quarter. Hodges Capital Management Inc. now owns 454,404 shares of the company’s stock worth $7,670,000 after purchasing an additional 10,102 shares in the last quarter. Institutional investors own 66.05% of the company’s stock.

Shoe Carnival Price Performance

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

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

Shoe Carnival Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 20th. Stockholders of record on Monday, July 6th were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 4.9%. The ex-dividend date was Monday, July 6th. Shoe Carnival’s payout ratio is currently 50.37%.

Analysts Set New Price Targets

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

About Shoe Carnival

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.