Barclays PLC Purchases 103,226 Shares of Steven Madden, Ltd. (NASDAQ:SHOO)

Barclays PLC grew its position in Steven Madden, Ltd. (NASDAQ:SHOO) by 286.9% during the third quarter, HoldingsChannel.com reports. The fund owned 139,206 shares of the textile maker’s stock after acquiring an additional 103,226 shares during the quarter. Barclays PLC’s holdings in Steven Madden were worth $6,819,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Gladius Capital Management LP purchased a new position in shares of Steven Madden in the third quarter valued at $36,000. Blue Trust Inc. lifted its position in Steven Madden by 9,166.7% during the second quarter. Blue Trust Inc. now owns 834 shares of the textile maker’s stock valued at $35,000 after purchasing an additional 825 shares during the last quarter. Exchange Traded Concepts LLC purchased a new position in shares of Steven Madden in the 3rd quarter worth $59,000. GAMMA Investing LLC increased its holdings in shares of Steven Madden by 80.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,329 shares of the textile maker’s stock worth $65,000 after buying an additional 593 shares during the last quarter. Finally, International Assets Investment Management LLC raised its position in shares of Steven Madden by 4,800.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,911 shares of the textile maker’s stock valued at $94,000 after buying an additional 1,872 shares in the last quarter. 99.88% of the stock is owned by hedge funds and other institutional investors.

Steven Madden Trading Down 1.5 %

NASDAQ:SHOO opened at $42.59 on Thursday. The company has a market cap of $3.07 billion, a price-to-earnings ratio of 18.12 and a beta of 1.07. Steven Madden, Ltd. has a twelve month low of $37.99 and a twelve month high of $50.01. The stock has a fifty day simple moving average of $45.02 and a 200-day simple moving average of $44.69.

Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings data on Thursday, November 7th. The textile maker reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.02. The company had revenue of $624.68 million during the quarter, compared to analyst estimates of $607.89 million. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. The firm’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same quarter last year, the business posted $0.88 EPS. As a group, equities research analysts predict that Steven Madden, Ltd. will post 2.66 EPS for the current fiscal year.

Steven Madden Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.84 annualized dividend and a yield of 1.97%. Steven Madden’s dividend payout ratio (DPR) is currently 35.74%.

Wall Street Analyst Weigh In

SHOO has been the subject of several recent research reports. Telsey Advisory Group reiterated a “market perform” rating and issued a $50.00 price target on shares of Steven Madden in a research report on Wednesday, November 13th. Needham & Company LLC reissued a “hold” rating on shares of Steven Madden in a research report on Thursday, December 5th. Piper Sandler restated a “neutral” rating and issued a $45.00 price target on shares of Steven Madden in a research report on Friday, August 23rd. Citigroup lifted their price objective on shares of Steven Madden from $43.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Finally, StockNews.com downgraded shares of Steven Madden from a “buy” rating to a “hold” rating in a research note on Sunday, November 24th. Eight equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $45.43.

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.