Principal Financial Group Inc. Grows Stock Position in Steven Madden, Ltd. (NASDAQ:SHOO)

Principal Financial Group Inc. grew its position in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 0.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 369,594 shares of the textile maker’s stock after buying an additional 656 shares during the period. Principal Financial Group Inc.’s holdings in Steven Madden were worth $18,106,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in SHOO. Gladius Capital Management LP bought a new stake in Steven Madden in the 3rd quarter valued at about $36,000. Exchange Traded Concepts LLC bought a new stake in shares of Steven Madden in the third quarter valued at approximately $59,000. GAMMA Investing LLC lifted its stake in shares of Steven Madden by 80.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,329 shares of the textile maker’s stock valued at $65,000 after buying an additional 593 shares in the last quarter. Blue Trust Inc. boosted its holdings in Steven Madden by 94.1% in the 3rd quarter. Blue Trust Inc. now owns 1,619 shares of the textile maker’s stock worth $79,000 after buying an additional 785 shares during the period. Finally, International Assets Investment Management LLC boosted its holdings in Steven Madden by 4,800.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,911 shares of the textile maker’s stock worth $94,000 after buying an additional 1,872 shares during the period. Institutional investors own 99.88% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Telsey Advisory Group restated a “market perform” rating and set a $50.00 target price on shares of Steven Madden in a research report on Wednesday, November 13th. Needham & Company LLC restated a “hold” rating on shares of Steven Madden in a research note on Thursday, December 5th. StockNews.com cut Steven Madden from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Citigroup raised 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. Eight analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $45.43.

Steven Madden Trading Up 0.6 %

SHOO stock opened at $42.53 on Friday. The company’s 50 day moving average is $44.36 and its 200 day moving average is $44.60. The stock has a market cap of $3.07 billion, a price-to-earnings ratio of 18.10 and a beta of 1.07. Steven Madden, Ltd. has a 1-year low of $37.99 and a 1-year high of $50.01.

Steven Madden (NASDAQ:SHOO) last issued its quarterly earnings results on Thursday, November 7th. The textile maker reported $0.91 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 firm had revenue of $624.68 million for the quarter, compared to analyst estimates of $607.89 million. During the same quarter in the prior year, the firm earned $0.88 EPS. The business’s revenue for the quarter was up 13.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Steven Madden, Ltd. will post 2.66 EPS for the current fiscal 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 1.98%. The ex-dividend date of this dividend 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.