Gabelli Funds LLC Buys Shares of 139,636 Shoe Carnival, Inc. $SHOE

Gabelli Funds LLC purchased a new position in Shoe Carnival, Inc. (NASDAQ:SHOE) in the second quarter, HoldingsChannel reports. The institutional investor purchased 139,636 shares of the company’s stock, valued at approximately $2,071,000.

Other institutional investors have also recently made changes to their positions in the company. Gamco Investors INC. ET AL bought a new stake in shares of Shoe Carnival during the 2nd quarter worth $304,000. Ieq Capital LLC purchased a new position in Shoe Carnival in the second quarter worth $303,000. Denali Advisors LLC bought a new position in Shoe Carnival in the second quarter valued at $1,074,000. BlackRock Inc. bought a new position in Shoe Carnival in the second quarter valued at $29,007,000. Finally, Deutsche Bank AG purchased a new stake in Shoe Carnival during the second quarter valued at about $267,000. Institutional investors own 66.05% of the company’s stock.

Shoe Carnival Price Performance

SHOE stock opened at $15.47 on Friday. The stock has a market capitalization of $420.01 million, a P/E ratio of 11.46 and a beta of 1.43. Shoe Carnival, Inc. has a one year low of $14.00 and a one year high of $26.57. The business’s 50 day simple moving average is $15.38.

Shoe Carnival (NASDAQ:SHOE) last announced its quarterly earnings data on Thursday, May 21st. The company reported $0.23 earnings per share for the quarter. Shoe Carnival had a net margin of 3.31% and a return on equity of 7.24%. The firm had revenue of $270.73 million during the quarter. As a group, equities analysts forecast that Shoe Carnival, Inc. will post 1.5 EPS for the current fiscal year.

Shoe Carnival Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 20th. Shareholders of record on Monday, July 6th were paid a $0.17 dividend. The ex-dividend date of this dividend was Monday, July 6th. This represents a $0.68 annualized dividend and a yield of 4.4%. Shoe Carnival’s payout ratio is currently 50.37%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SHOE. Zacks Research lowered Shoe Carnival from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 12th. Weiss Ratings began coverage on Shoe Carnival in a research report on Monday, June 15th. They set a “hold (c-)” rating on the stock. 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 data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $22.00.

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.