Evergreen Capital Management LLC Acquires New Holdings in Steven Madden, Ltd. (NASDAQ:SHOO)

Evergreen Capital Management LLC bought a new position in shares of Steven Madden, Ltd. (NASDAQ:SHOO) in the second quarter, HoldingsChannel reports. The firm bought 5,175 shares of the textile maker’s stock, valued at approximately $219,000.

Several other institutional investors and hedge funds also recently modified their holdings of SHOO. Blue Trust Inc. raised its position in shares of Steven Madden by 9,166.7% during the 2nd quarter. Blue Trust Inc. now owns 834 shares of the textile maker’s stock worth $35,000 after purchasing an additional 825 shares during the last quarter. Fidelis Capital Partners LLC purchased a new position in Steven Madden during the first quarter worth $47,000. EntryPoint Capital LLC acquired a new position in shares of Steven Madden in the first quarter worth $81,000. nVerses Capital LLC lifted its position in shares of Steven Madden by 3,600.0% in the second quarter. nVerses Capital LLC now owns 3,700 shares of the textile maker’s stock valued at $157,000 after acquiring an additional 3,600 shares in the last quarter. Finally, Central Pacific Bank Trust Division acquired a new stake in shares of Steven Madden during the first quarter valued at $170,000. Hedge funds and other institutional investors own 99.88% of the company’s stock.

Steven Madden Stock Up 0.6 %

SHOO stock opened at $48.69 on Friday. Steven Madden, Ltd. has a 52 week low of $30.87 and a 52 week high of $49.29. The company has a market cap of $3.54 billion, a price-to-earnings ratio of 20.12 and a beta of 1.08. The business has a fifty day simple moving average of $44.60 and a 200-day simple moving average of $42.92.

Steven Madden (NASDAQ:SHOO) last released its quarterly earnings data on Wednesday, July 31st. The textile maker reported $0.57 EPS for the quarter, topping 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 company had revenue of $523.60 million for the quarter, compared to the consensus estimate of $515.15 million. During the same period last year, the business posted $0.47 EPS. The company’s quarterly revenue was up 17.6% compared to the same quarter last year. As a group, analysts expect that Steven Madden, Ltd. will post 2.62 earnings per share 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 paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.84 annualized dividend and a yield of 1.73%. Steven Madden’s dividend payout ratio is currently 34.71%.

Analyst Ratings Changes

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

Steven Madden Company 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.