Goldman Sachs Group Inc. Buys 75,034 Shares of Steven Madden, Ltd. (NASDAQ:SHOO)

Goldman Sachs Group Inc. grew its stake in Steven Madden, Ltd. (NASDAQ:SHOO) by 19.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 463,515 shares of the textile maker’s stock after purchasing an additional 75,034 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.62% of Steven Madden worth $19,468,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of SHOO. Ranger Investment Management L.P. lifted its holdings in Steven Madden by 36.8% during the fourth quarter. Ranger Investment Management L.P. now owns 560,941 shares of the textile maker’s stock worth $23,560,000 after acquiring an additional 150,852 shares during the period. Quantedge Capital Pte Ltd bought a new stake in Steven Madden during the fourth quarter worth $979,000. First Trust Advisors LP lifted its holdings in Steven Madden by 13.8% during the fourth quarter. First Trust Advisors LP now owns 613,449 shares of the textile maker’s stock worth $25,765,000 after acquiring an additional 74,225 shares during the period. Eagle Asset Management Inc. lifted its holdings in Steven Madden by 1.4% during the fourth quarter. Eagle Asset Management Inc. now owns 319,222 shares of the textile maker’s stock worth $13,407,000 after acquiring an additional 4,504 shares during the period. Finally, Harvest Investment Services LLC bought a new stake in Steven Madden during the fourth quarter worth $417,000. Institutional investors own 99.88% of the company’s stock.

Steven Madden Stock Performance

Shares of NASDAQ SHOO opened at $43.04 on Thursday. The stock has a market cap of $3.16 billion, a PE ratio of 17.79 and a beta of 1.12. Steven Madden, Ltd. has a fifty-two week low of $30.35 and a fifty-two week high of $45.91. The stock has a fifty day moving average of $42.25 and a 200-day moving average of $42.04.

Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings results on Wednesday, May 1st. The textile maker reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.09. The company had revenue of $552.38 million during the quarter, compared to analysts’ expectations of $525.04 million. Steven Madden had a return on equity of 22.68% and a net margin of 8.65%. The firm’s quarterly revenue was up 19.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.50 earnings per share. On average, sell-side analysts predict that Steven Madden, Ltd. will post 2.62 EPS for the current year.

Steven Madden Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Monday, June 10th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend was Monday, June 10th. Steven Madden’s payout ratio is 34.71%.

Insider Buying and Selling

In related news, insider Karla Frieders sold 10,000 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $44.91, for a total transaction of $449,100.00. Following the completion of the transaction, the insider now directly owns 86,658 shares in the company, valued at $3,891,810.78. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, insider Karla Frieders sold 10,000 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $44.91, for a total transaction of $449,100.00. Following the completion of the transaction, the insider now directly owns 86,658 shares in the company, valued at $3,891,810.78. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Peter Migliorini sold 3,000 shares of the business’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $43.81, for a total value of $131,430.00. Following the transaction, the director now owns 16,006 shares of the company’s stock, valued at $701,222.86. The disclosure for this sale can be found here. Insiders sold a total of 14,600 shares of company stock worth $651,586 over the last ninety days. 2.08% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SHOO. Citigroup lifted their price target on Steven Madden from $41.00 to $43.00 and gave the stock a “neutral” rating in a report on Thursday, February 29th. Wedbush restated a “neutral” rating and issued a $41.00 target price on shares of Steven Madden in a research note on Friday, May 17th. StockNews.com upgraded Steven Madden from a “hold” rating to a “buy” rating in a research note on Thursday, February 29th. Telsey Advisory Group restated a “market perform” rating and issued a $44.00 target price on shares of Steven Madden in a research note on Friday, April 26th. Finally, BTIG Research boosted their target price on Steven Madden from $50.00 to $53.00 and gave the company a “buy” rating in a research note on Thursday, June 6th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $43.38.

About Steven Madden

Steven Madden, Ltd. designs, sources, and markets fashion-forward branded and private label footwear, accessories, and apparel in the United States and internationally. It operates through Wholesale Footwear, Wholesale Accessories/Apparel, Direct-to- Consumer, and Licensing segments. The Wholesale Footwear segment designs, sources, and markets various products, including dress shoes, boots, booties, fashion sneakers, sandals, and casual shoes under the Steve Madden, Dolce Vita, Betsey Johnson, Blondo, GREATS, and Anne Klein brands.