Shoe Carnival (NASDAQ:SHOE) Stock Rating Raised to “Hold” at Zacks Research

Zacks Research upgraded shares of Shoe Carnival (NASDAQ:SHOE) from a strong sell rating to a hold rating in a report issued on Tuesday morning,Zacks reports.

A number of other equities research analysts also recently weighed in on SHOE. Wall Street Zen downgraded Shoe Carnival from a “hold” rating to a “sell” rating in a research report on Sunday. Weiss Ratings upgraded Shoe Carnival from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $22.00.

Shoe Carnival Stock Performance

Shoe Carnival stock opened at $14.51 on Tuesday. Shoe Carnival has a fifty-two week low of $10.20 and a fifty-two week high of $21.61. The stock has a market cap of $394.38 million, a PE ratio of 16.49 and a beta of 1.36. The firm’s fifty day moving average is $13.60.

Shoe Carnival (NASDAQ:SHOE) last announced its earnings results on Thursday, September 10th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analysts’ expectations of $299.19 million. During the same quarter last year, the firm posted $0.70 earnings per share. The firm’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. On average, equities research analysts forecast that Shoe Carnival will post 0.85 EPS for the current year.

Shoe Carnival Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 20th. Shareholders of record on Tuesday, October 6th were paid 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 dividend yield of 4.7%. Shoe Carnival’s dividend payout ratio (DPR) is 77.27%.

Institutional Investors Weigh In On Shoe Carnival

Institutional investors have recently made changes to their positions in the business. BlackRock Inc. bought a new stake in Shoe Carnival in the second quarter worth $29,007,000. Dimensional Fund Advisors LP boosted its position in Shoe Carnival by 2.8% during the first quarter. Dimensional Fund Advisors LP now owns 1,651,332 shares of the company’s stock valued at $25,744,000 after buying an additional 44,759 shares during the period. State Street Corp bought a new position in shares of Shoe Carnival during the second quarter valued at about $6,373,000. Sei Investments Co. grew its stake in shares of Shoe Carnival by 69.7% during 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 last quarter. Finally, Empowered Funds LLC grew its stake in shares of Shoe Carnival by 17.9% during the first quarter. Empowered Funds LLC now owns 143,254 shares of the company’s stock valued at $2,233,000 after buying an additional 21,714 shares during the last quarter. Hedge funds and other institutional investors own 66.05% of the company’s stock.

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.