Steven Madden, Ltd. (NASDAQ:SHOO) Shares Sold by Edgestream Partners L.P.

Edgestream Partners L.P. lessened its holdings in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 73.6% during the 2nd quarter, Holdings Channel reports. The firm owned 36,442 shares of the textile maker’s stock after selling 101,540 shares during the period. Edgestream Partners L.P.’s holdings in Steven Madden were worth $1,541,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank purchased a new stake in Steven Madden during the 4th quarter worth approximately $19,846,000. Ranger Investment Management L.P. boosted its position in Steven Madden by 36.8% in the 4th quarter. Ranger Investment Management L.P. now owns 560,941 shares of the textile maker’s stock valued at $23,560,000 after buying an additional 150,852 shares during the period. Capital Research Global Investors grew its stake in shares of Steven Madden by 8.6% in the first quarter. Capital Research Global Investors now owns 1,856,001 shares of the textile maker’s stock worth $78,472,000 after acquiring an additional 146,324 shares in the last quarter. Nicholas Investment Partners LP purchased a new stake in shares of Steven Madden during the second quarter worth $4,863,000. Finally, Goldman Sachs Group Inc. raised its stake in shares of Steven Madden by 19.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 463,515 shares of the textile maker’s stock valued at $19,468,000 after acquiring an additional 75,034 shares in the last quarter. Hedge funds and other institutional investors own 99.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SHOO. Wedbush reiterated a “neutral” rating and issued a $41.00 target price on shares of Steven Madden in a report on Wednesday, August 7th. Piper Sandler reiterated a “neutral” rating and issued a $45.00 price objective on shares of Steven Madden in a research note on Friday, August 23rd. BTIG Research boosted their price objective on Steven Madden from $50.00 to $53.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $44.00 target price on shares of Steven Madden in a report on Wednesday, July 31st. Finally, StockNews.com upgraded shares of Steven Madden from a “hold” rating to a “buy” rating in a research note on Wednesday. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $44.29.

Steven Madden Stock Performance

SHOO opened at $47.89 on Friday. Steven Madden, Ltd. has a one year low of $30.35 and a one year high of $48.76. The company has a market cap of $3.48 billion, a P/E ratio of 19.79 and a beta of 1.08. The business’s 50-day simple moving average is $44.04 and its 200-day simple moving average is $42.62.

Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings results on Wednesday, July 31st. The textile maker reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.06. Steven Madden had a return on equity of 23.49% and a net margin of 8.36%. The firm had revenue of $523.60 million during the quarter, compared to the consensus estimate of $515.15 million. During the same period in the prior year, the company posted $0.47 earnings per share. The firm’s quarterly revenue was up 17.6% compared to the same quarter last year. As a group, analysts predict that Steven Madden, Ltd. will post 2.62 earnings per share for the current fiscal year.

Steven Madden Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Friday, September 13th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date of this dividend is Friday, September 13th. Steven Madden’s dividend payout ratio (DPR) is 34.71%.

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.