State Street Corp Acquires New Shares in Shoe Carnival, Inc. $SHOE

Key Points

• State Street acquired 429,767 shares of Shoe Carnival during the second quarter, worth approximately $6.37 million and representing a 1.58% stake. Institutional investors collectively own 66.05% of the company.
• Shoe Carnival reported quarterly EPS of $0.23, below the $0.34 analyst consensus, while revenue fell 7.2% year over year to $284.31 million. The company’s FY 2026 EPS guidance is $0.75–$0.90.
• The company declared a quarterly dividend of $0.17 per share, equating to a 5.2% annualized yield. Analysts maintain a consensus “Hold” rating, with a target price of $22.00, despite recent downgrades to “Sell” and “Strong Sell.”

State Street Corp purchased a new position in shares of Shoe Carnival, Inc. (NASDAQ:SHOE - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 429,767 shares of the company's stock, valued at approximately $6,373,000. State Street Corp owned 1.58% of Shoe Carnival at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Huntington National Bank increased its stake in Shoe Carnival by 45.5% in the 4th quarter. Huntington National Bank now owns 2,169 shares of the company's stock valued at $37,000 after buying an additional 678 shares during the last quarter. Integrated Wealth Concepts LLC bought a new stake in shares of Shoe Carnival in the 2nd quarter valued at about $46,000. Legal & General Group Plc bought a new stake in shares of Shoe Carnival in the 2nd quarter valued at about $56,000. State of Wyoming acquired a new stake in Shoe Carnival in the 2nd quarter valued at about $61,000. Finally, Royal Bank of Canada lifted its stake in Shoe Carnival by 6.2% in the 1st quarter. Royal Bank of Canada now owns 97,107 shares of the company's stock valued at $1,514,000 after purchasing an additional 5,685 shares during the last quarter. Institutional investors own 66.05% of the company's stock.

Shoe Carnival Stock Down 1.7%

NASDAQ SHOE opened at $13.00 on Friday. The firm has a market capitalization of $353.34 million, a P/E ratio of 14.77 and a beta of 1.40. Shoe Carnival, Inc. has a twelve month low of $10.20 and a twelve month high of $22.38. The firm has a fifty day moving average of $14.39.

Shoe Carnival (NASDAQ:SHOE - Get Free Report) last announced its earnings results on Thursday, September 10th. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.11). The company had revenue of $284.31 million for the quarter, compared to analyst estimates of $299.19 million. Shoe Carnival had a return on equity of 5.32% and a net margin of 2.20%.The firm's quarterly revenue was down 7.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.70 earnings per share. Shoe Carnival has set its FY 2026 guidance at 0.750-0.900 EPS. Sell-side analysts anticipate that Shoe Carnival, Inc. will post 0.85 earnings per share for the current year.

Shoe Carnival Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 20th. Investors of record on Tuesday, October 6th will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date of this dividend is Tuesday, October 6th. Shoe Carnival's dividend payout ratio (DPR) is currently 77.27%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on SHOE shares. Weiss Ratings restated a "hold (c-)" rating on shares of Shoe Carnival in a research note on Friday, September 11th. Wall Street Zen lowered shares of Shoe Carnival from a "hold" rating to a "sell" rating in a research report on Saturday, September 12th. Finally, Zacks Research cut shares of Shoe Carnival from a "hold" rating to a "strong sell" rating in a research note on Monday, September 14th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $22.00.

Shoe Carnival Company Profile

Shoe Carnival, Inc is a family footwear retailer that sells shoes, sandals, boots, athletic footwear, accessories and related products for women, men and children. Its merchandise assortment includes national brands as well as private-label products, with offerings spanning casual, dress, work and athletic categories.

The company operates through a network of retail stores and an e-commerce platform, serving customers primarily in the United States. Shoe Carnival emphasizes value-oriented pricing, frequent promotions and an in-store shopping experience designed to appeal to families and budget-conscious consumers.

Founded in 1978 and headquartered in Evansville, Indiana, Shoe Carnival has expanded through organic growth and acquisitions, including its purchase of Shoe Station.

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