Steven Madden, Ltd. (NASDAQ:SHOO) Position Lessened by Amalgamated Bank

Amalgamated Bank reduced its stake in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 5.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,249 shares of the textile maker’s stock after selling 1,115 shares during the quarter. Amalgamated Bank’s holdings in Steven Madden were worth $899,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. AlphaMark Advisors LLC boosted its holdings in shares of Steven Madden by 7.4% during the second quarter. AlphaMark Advisors LLC now owns 7,785 shares of the textile maker’s stock valued at $329,000 after acquiring an additional 535 shares during the period. PNC Financial Services Group Inc. boosted its stake in Steven Madden by 6.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 13,185 shares of the textile maker’s stock valued at $554,000 after purchasing an additional 761 shares during the period. Texas Permanent School Fund Corp grew its position in Steven Madden by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 61,378 shares of the textile maker’s stock worth $2,595,000 after purchasing an additional 794 shares during the last quarter. ProShare Advisors LLC increased its stake in shares of Steven Madden by 5.8% in the first quarter. ProShare Advisors LLC now owns 14,817 shares of the textile maker’s stock valued at $626,000 after purchasing an additional 807 shares during the period. Finally, Blue Trust Inc. raised its holdings in shares of Steven Madden by 9,166.7% during the second quarter. Blue Trust Inc. now owns 834 shares of the textile maker’s stock valued at $35,000 after buying an additional 825 shares during the last quarter. 99.88% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on SHOO shares. Telsey Advisory Group reissued a “market perform” rating and issued a $44.00 price objective on shares of Steven Madden in a report on Wednesday, July 31st. StockNews.com raised Steven Madden from a “hold” rating to a “buy” rating in a report on Wednesday, September 18th. Wedbush reaffirmed a “neutral” rating and issued a $41.00 price objective on shares of Steven Madden in a report on Wednesday, August 7th. Piper Sandler reissued a “neutral” rating and set a $45.00 target price on shares of Steven Madden in a research note on Friday, August 23rd. Finally, BTIG Research upped their price target on shares of Steven Madden from $50.00 to $53.00 and gave the stock a “buy” rating in a research note on Thursday, June 6th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $44.29.

Steven Madden Stock Performance

Shares of NASDAQ:SHOO opened at $48.69 on Friday. The company has a 50 day moving average price of $44.60 and a 200 day moving average price of $42.91. The stock has a market capitalization of $3.54 billion, a price-to-earnings ratio of 20.12 and a beta of 1.08. Steven Madden, Ltd. has a 1-year low of $30.87 and a 1-year high of $49.29.

Steven Madden (NASDAQ:SHOO) last announced its earnings results on Wednesday, July 31st. The textile maker reported $0.57 EPS for the quarter, topping the consensus estimate of $0.51 by $0.06. Steven Madden had a net margin of 8.36% and a return on equity of 23.49%. The company had revenue of $523.60 million during the quarter, compared to analysts’ expectations of $515.15 million. During the same period last year, the company posted $0.47 earnings per share. The business’s revenue for the quarter was up 17.6% on a year-over-year basis. On average, sell-side analysts expect that Steven Madden, Ltd. will post 2.62 EPS for the current fiscal year.

Steven Madden Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Friday, September 13th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.84 dividend on an annualized basis and a yield of 1.73%. Steven Madden’s payout ratio is presently 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.