Charles Schwab Investment Management Inc. grew its holdings in shares of Steven Madden, Ltd. (NASDAQ:SHOO – Free Report) by 3.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,096,777 shares of the textile maker’s stock after purchasing an additional 32,696 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Steven Madden were worth $53,731,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Mackenzie Financial Corp grew its holdings in shares of Steven Madden by 3.1% in the second quarter. Mackenzie Financial Corp now owns 8,232 shares of the textile maker’s stock valued at $348,000 after purchasing an additional 248 shares in the last quarter. Louisiana State Employees Retirement System grew its stake in shares of Steven Madden by 1.2% in the third quarter. Louisiana State Employees Retirement System now owns 35,100 shares of the textile maker’s stock worth $1,720,000 after acquiring an additional 400 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Steven Madden by 1.2% in the second quarter. The Manufacturers Life Insurance Company now owns 40,141 shares of the textile maker’s stock worth $1,698,000 after acquiring an additional 484 shares in the last quarter. AlphaMark Advisors LLC increased its position 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 worth $329,000 after acquiring an additional 535 shares during the period. Finally, KBC Group NV raised its stake in shares of Steven Madden by 34.1% in the third quarter. KBC Group NV now owns 2,208 shares of the textile maker’s stock valued at $108,000 after acquiring an additional 561 shares in the last quarter. 99.88% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several equities research analysts have weighed in on the company. StockNews.com downgraded Steven Madden from a “buy” rating to a “hold” rating in a report on Sunday, November 24th. Wedbush reaffirmed a “neutral” rating and issued a $41.00 target price on shares of Steven Madden in a report on Wednesday, August 7th. Piper Sandler reiterated a “neutral” rating and set a $45.00 price target on shares of Steven Madden in a report on Friday, August 23rd. Citigroup increased their price objective on shares of Steven Madden from $43.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $50.00 price objective on shares of Steven Madden in a research report on Wednesday, November 13th. Eight research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $45.43.
Steven Madden Trading Up 1.7 %
SHOO stock opened at $45.58 on Friday. The company’s 50 day moving average is $46.07 and its two-hundred day moving average is $44.52. Steven Madden, Ltd. has a twelve month low of $37.52 and a twelve month high of $50.01. The stock has a market cap of $3.29 billion, a P/E ratio of 19.40 and a beta of 1.08.
Steven Madden (NASDAQ:SHOO – Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The textile maker reported $0.91 EPS for the quarter, topping the consensus estimate of $0.89 by $0.02. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. The firm had revenue of $624.68 million for the quarter, compared to analyst estimates of $607.89 million. During the same period last year, the business earned $0.88 EPS. Steven Madden’s revenue for the quarter was up 13.0% compared to the same quarter last year. On average, equities research analysts predict that Steven Madden, Ltd. will post 2.65 earnings per share for the current year.
Steven Madden Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a $0.21 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.84%. Steven Madden’s dividend payout ratio (DPR) is presently 35.74%.
Steven Madden 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.
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