Hsbc Holdings PLC Cuts Stock Position in Steven Madden, Ltd. (NASDAQ:SHOO)

Hsbc Holdings PLC lowered its stake in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 6.7% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 10,393 shares of the textile maker’s stock after selling 751 shares during the quarter. Hsbc Holdings PLC’s holdings in Steven Madden were worth $438,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in SHOO. Blue Trust Inc. grew its position in 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 period. Fidelis Capital Partners LLC purchased a new position in Steven Madden during the first quarter worth about $47,000. EntryPoint Capital LLC acquired a new stake in shares of Steven Madden during the 1st quarter worth about $81,000. nVerses Capital LLC boosted its position in shares of Steven Madden by 3,600.0% during the 2nd quarter. nVerses Capital LLC now owns 3,700 shares of the textile maker’s stock worth $157,000 after purchasing an additional 3,600 shares during the period. Finally, Central Pacific Bank Trust Division acquired a new stake in Steven Madden in the 1st quarter valued at about $170,000. Hedge funds and other institutional investors own 99.88% of the company’s stock.

Steven Madden Trading Up 1.4 %

Shares of NASDAQ SHOO opened at $49.70 on Wednesday. The firm has a market capitalization of $3.61 billion, a PE ratio of 20.54 and a beta of 1.08. Steven Madden, Ltd. has a one year low of $31.01 and a one year high of $50.01. The business has a 50-day moving average price of $44.79 and a two-hundred day moving average price of $43.03.

Steven Madden (NASDAQ:SHOO) last posted its 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 net margin of 8.36% and a return on equity of 23.49%. The firm had revenue of $523.60 million during the quarter, compared to analysts’ expectations of $515.15 million. During the same period in the previous year, the company earned $0.47 earnings per share. The company’s revenue was up 17.6% compared to the same quarter last year. Research analysts anticipate that Steven Madden, Ltd. will post 2.62 EPS for the current year.

Steven Madden Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Investors 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 1.69%. Steven Madden’s dividend payout ratio is 34.71%.

Analyst Ratings Changes

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

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.