Wealth Enhancement Advisory Services LLC Cuts Stock Position in Steven Madden, Ltd. (NASDAQ:SHOO)

Wealth Enhancement Advisory Services LLC lessened its holdings in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 22.5% during the 2nd quarter, Holdings Channel reports. The firm owned 6,109 shares of the textile maker’s stock after selling 1,773 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Steven Madden were worth $258,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. GAMMA Investing LLC purchased a new position in Steven Madden in the 4th quarter valued at approximately $32,000. Fidelis Capital Partners LLC purchased a new position in Steven Madden in the first quarter valued at $47,000. International Assets Investment Management LLC increased its holdings in Steven Madden by 4,100.0% during the 4th quarter. International Assets Investment Management LLC now owns 1,638 shares of the textile maker’s stock worth $69,000 after purchasing an additional 1,599 shares during the period. EntryPoint Capital LLC acquired a new stake in Steven Madden in the 1st quarter valued at about $81,000. Finally, Central Pacific Bank Trust Division purchased a new position in shares of Steven Madden in the 1st quarter valued at about $170,000. 99.88% of the stock is owned by hedge funds and other institutional investors.

Steven Madden Price Performance

NASDAQ SHOO opened at $45.16 on Tuesday. The firm’s fifty day moving average price is $43.44 and its 200 day moving average price is $42.45. Steven Madden, Ltd. has a 12 month low of $30.35 and a 12 month high of $47.24. The company has a market capitalization of $3.31 billion, a price-to-earnings ratio of 18.66 and a beta of 1.09.

Steven Madden (NASDAQ:SHOO) last issued its quarterly earnings data on Wednesday, July 31st. The textile maker reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.06. Steven Madden had a return on equity of 23.49% and a net margin of 8.36%. The company had revenue of $523.60 million for the quarter, compared to analyst estimates of $515.15 million. During the same quarter last year, the company posted $0.47 earnings per share. The business’s quarterly revenue was up 17.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Steven Madden, Ltd. will post 2.62 earnings per share for the current year.

Steven Madden Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Friday, September 13th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.86%. The ex-dividend date is Friday, September 13th. Steven Madden’s payout ratio is currently 34.71%.

Insider Transactions at Steven Madden

In related news, Director Peter Migliorini sold 3,000 shares of the stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $43.81, for a total transaction of $131,430.00. Following the completion of the sale, the director now owns 16,006 shares in the company, valued at approximately $701,222.86. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Steven Madden news, Director Rose Peabody Lynch sold 1,600 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $44.41, for a total transaction of $71,056.00. Following the completion of the sale, the director now directly owns 21,303 shares of the company’s stock, valued at approximately $946,066.23. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Peter Migliorini sold 3,000 shares of the stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $43.81, for a total value of $131,430.00. Following the sale, the director now directly owns 16,006 shares of the company’s stock, valued at $701,222.86. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,600 shares of company stock worth $651,586. Insiders own 2.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on SHOO shares. Piper Sandler restated a “neutral” rating and set a $45.00 target price on shares of Steven Madden in a research note on Friday. BTIG Research increased their price objective on shares of Steven Madden from $50.00 to $53.00 and gave the company a “buy” rating in a research report on Thursday, June 6th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $44.00 price objective on shares of Steven Madden in a research report on Wednesday, July 31st. Finally, Wedbush reissued a “neutral” rating and issued a $41.00 target price on shares of Steven Madden in a report on Wednesday, August 7th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Steven Madden currently has an average rating of “Hold” and a consensus target price of $44.29.

Steven Madden Profile

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.