Steven Madden, Ltd. (NASDAQ:SHOO) Shares Bought by KBC Group NV

KBC Group NV raised its position in Steven Madden, Ltd. (NASDAQ:SHOO) by 34.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,208 shares of the textile maker’s stock after buying an additional 561 shares during the period. KBC Group NV’s holdings in Steven Madden were worth $108,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of SHOO. Covestor Ltd increased its position in shares of Steven Madden by 37.1% in the third quarter. Covestor Ltd now owns 4,000 shares of the textile maker’s stock valued at $196,000 after buying an additional 1,083 shares in the last quarter. Harbor Capital Advisors Inc. grew its stake in Steven Madden by 149.8% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 122,005 shares of the textile maker’s stock valued at $5,977,000 after acquiring an additional 73,165 shares during the period. New York State Teachers Retirement System increased its holdings in Steven Madden by 0.9% in the 3rd quarter. New York State Teachers Retirement System now owns 79,020 shares of the textile maker’s stock worth $3,871,000 after acquiring an additional 668 shares in the last quarter. abrdn plc raised its position in Steven Madden by 2.7% during the third quarter. abrdn plc now owns 558,015 shares of the textile maker’s stock worth $27,242,000 after acquiring an additional 14,841 shares during the period. Finally, State of Alaska Department of Revenue lifted its holdings in Steven Madden by 2.3% during the third quarter. State of Alaska Department of Revenue now owns 41,439 shares of the textile maker’s stock valued at $2,030,000 after purchasing an additional 933 shares in the last quarter. Institutional investors and hedge funds own 99.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SHOO. Telsey Advisory Group restated a “market perform” rating and set a $50.00 price target on shares of Steven Madden in a research report on Wednesday, November 13th. Citigroup lifted their price objective on Steven Madden from $43.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Wedbush reissued a “neutral” rating and issued a $41.00 price objective on shares of Steven Madden in a report on Wednesday, August 7th. StockNews.com upgraded shares of Steven Madden from a “hold” rating to a “buy” rating in a report on Saturday, November 16th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $45.00 price objective on shares of Steven Madden in a research report on Friday, August 23rd. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, Steven Madden has a consensus rating of “Hold” and an average target price of $45.43.

Steven Madden Trading Up 3.1 %

Shares of NASDAQ SHOO opened at $42.90 on Friday. The stock has a fifty day simple moving average of $46.33 and a 200-day simple moving average of $44.37. Steven Madden, Ltd. has a twelve month low of $36.56 and a twelve month high of $50.01. The stock has a market capitalization of $3.10 billion, a PE ratio of 18.26 and a beta of 1.08.

Steven Madden (NASDAQ:SHOO) last issued its quarterly earnings results on Thursday, November 7th. The textile maker reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.02. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. The company had revenue of $624.68 million for the quarter, compared to analyst estimates of $607.89 million. During the same period in the prior year, the firm earned $0.88 earnings per share. The business’s revenue for the quarter was up 13.0% compared to the same quarter last year. On average, equities analysts predict that Steven Madden, Ltd. will post 2.65 earnings per share for the current year.

Steven Madden Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be paid a $0.21 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.84 annualized dividend and a dividend yield of 1.96%. Steven Madden’s dividend payout ratio (DPR) is 35.74%.

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.