Blue Trust Inc. Buys 825 Shares of Steven Madden, Ltd. (NASDAQ:SHOO)

Blue Trust Inc. grew its position in Steven Madden, Ltd. (NASDAQ:SHOO) by 9,166.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 834 shares of the textile maker’s stock after purchasing an additional 825 shares during the quarter. Blue Trust Inc.’s holdings in Steven Madden were worth $35,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. GAMMA Investing LLC acquired a new position in Steven Madden in the 4th quarter valued at $32,000. Fidelis Capital Partners LLC bought a new stake in Steven Madden during the first quarter valued at about $47,000. International Assets Investment Management LLC grew its position in shares of Steven Madden by 4,100.0% in the fourth quarter. International Assets Investment Management LLC now owns 1,638 shares of the textile maker’s stock valued at $69,000 after purchasing an additional 1,599 shares during the last quarter. EntryPoint Capital LLC bought a new position in shares of Steven Madden in the first quarter worth about $81,000. Finally, Central Pacific Bank Trust Division bought a new position in shares of Steven Madden in the first quarter worth about $170,000. 99.88% of the stock is currently owned by institutional investors and hedge funds.

Steven Madden Price Performance

Shares of SHOO stock opened at $45.16 on Friday. Steven Madden, Ltd. has a one year low of $30.35 and a one year high of $47.24. The stock has a fifty day moving average price of $43.41 and a 200 day moving average price of $42.40. The stock has a market cap of $3.31 billion, a P/E ratio of 18.66 and a beta of 1.09.

Steven Madden (NASDAQ:SHOO) last released its quarterly earnings data on Wednesday, July 31st. The textile maker reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.06. The company had revenue of $523.60 million during the quarter, compared to the consensus estimate of $515.15 million. Steven Madden had a net margin of 8.36% and a return on equity of 23.49%. The firm’s revenue for the quarter was up 17.6% compared to the same quarter last year. During the same period last year, the firm earned $0.47 EPS. Equities research analysts anticipate that Steven Madden, Ltd. will post 2.62 EPS for the current year.

Steven Madden Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Friday, September 13th will be paid a $0.21 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.84 annualized dividend and a dividend yield of 1.86%. Steven Madden’s dividend payout ratio is currently 34.71%.

Wall Street Analysts Forecast Growth

SHOO has been the subject of several recent analyst reports. Telsey Advisory Group restated a “market perform” rating and set a $44.00 target price on shares of Steven Madden in a research note on Wednesday, July 31st. BTIG Research increased their price objective on Steven Madden from $50.00 to $53.00 and gave the company a “buy” rating in a research report on Thursday, June 6th. Piper Sandler reaffirmed a “neutral” rating and set a $45.00 target price on shares of Steven Madden in a research report on Friday. Finally, Wedbush reissued a “neutral” rating and issued a $41.00 price target on shares of Steven Madden in a report on Wednesday, August 7th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Steven Madden presently has an average rating of “Hold” and a consensus target price of $44.29.

Insider Transactions at Steven Madden

In related news, Director Peter Migliorini sold 3,000 shares of the business’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $43.81, for a total value of $131,430.00. Following the sale, the director now owns 16,006 shares of the company’s stock, valued at approximately $701,222.86. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Steven Madden news, Director Peter Migliorini sold 3,000 shares of the stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $43.81, for a total transaction of $131,430.00. Following the completion of the transaction, the director now directly owns 16,006 shares in the company, valued at $701,222.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Rose Peabody Lynch sold 1,600 shares of the business’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $44.41, for a total transaction of $71,056.00. Following the completion of the sale, the director now owns 21,303 shares in the company, valued at approximately $946,066.23. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,600 shares of company stock valued at $651,586. Corporate insiders own 2.08% of the company’s stock.

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.