Los Angeles Capital Management LLC Decreases Holdings in Steven Madden, Ltd. (NASDAQ:SHOO)

Los Angeles Capital Management LLC trimmed its stake in Steven Madden, Ltd. (NASDAQ:SHOO) by 14.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,451 shares of the textile maker’s stock after selling 5,870 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Steven Madden were worth $1,688,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Seven Eight Capital LP raised its stake in shares of Steven Madden by 902.5% in the first quarter. Seven Eight Capital LP now owns 49,265 shares of the textile maker’s stock valued at $2,083,000 after buying an additional 44,351 shares during the period. Harbor Capital Advisors Inc. lifted its holdings in Steven Madden by 273.4% during the second quarter. Harbor Capital Advisors Inc. now owns 48,840 shares of the textile maker’s stock valued at $2,066,000 after purchasing an additional 35,761 shares during the last quarter. Magnetar Financial LLC purchased a new position in shares of Steven Madden in the first quarter worth about $876,000. Jane Street Group LLC raised its position in shares of Steven Madden by 36.9% in the first quarter. Jane Street Group LLC now owns 183,423 shares of the textile maker’s stock valued at $7,755,000 after purchasing an additional 49,432 shares during the period. Finally, Capital Research Global Investors lifted its stake in shares of Steven Madden by 8.6% during the 1st quarter. Capital Research Global Investors now owns 1,856,001 shares of the textile maker’s stock valued at $78,472,000 after buying an additional 146,324 shares in the last quarter. 99.88% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on SHOO shares. Wedbush restated a “neutral” rating and set a $41.00 target price on shares of Steven Madden in a research report on Wednesday, August 7th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $50.00 target price on shares of Steven Madden in a report on Wednesday. Piper Sandler reissued a “neutral” rating and issued a $45.00 price target on shares of Steven Madden in a report on Friday, August 23rd. Citigroup boosted their price objective on shares of Steven Madden from $43.00 to $45.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Finally, StockNews.com cut shares of Steven Madden from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, Steven Madden has a consensus rating of “Hold” and a consensus price target of $45.43.

Steven Madden Price Performance

Shares of SHOO opened at $44.27 on Thursday. Steven Madden, Ltd. has a 1-year low of $34.92 and a 1-year high of $50.01. The company has a market capitalization of $3.20 billion, a P/E ratio of 18.84 and a beta of 1.08. The firm’s 50 day simple moving average is $46.42 and its 200 day simple moving average is $44.28.

Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings data on Thursday, November 7th. The textile maker reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.02. The firm had revenue of $624.68 million for the quarter, compared to analysts’ expectations of $607.89 million. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. The business’s quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter last year, the company posted $0.88 EPS. On average, equities analysts anticipate that Steven Madden, Ltd. will post 2.65 earnings per share for the current year.

Steven Madden Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date is Friday, December 13th. Steven Madden’s payout ratio is currently 35.74%.

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.