Steven Madden, Ltd. (NASDAQ:SHOO) Position Lessened by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. trimmed its position in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 5.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,426 shares of the textile maker’s stock after selling 313 shares during the period. Crossmark Global Holdings Inc.’s holdings in Steven Madden were worth $229,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of SHOO. Russell Investments Group Ltd. increased its position in Steven Madden by 24.2% during the fourth quarter. Russell Investments Group Ltd. now owns 84,528 shares of the textile maker’s stock worth $3,550,000 after buying an additional 16,464 shares during the last quarter. Natixis Advisors L.P. increased its position in Steven Madden by 9.8% during the fourth quarter. Natixis Advisors L.P. now owns 14,467 shares of the textile maker’s stock worth $607,000 after buying an additional 1,292 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Steven Madden by 2.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,024,238 shares of the textile maker’s stock worth $43,018,000 after buying an additional 26,177 shares during the last quarter. First Eagle Investment Management LLC increased its position in Steven Madden by 3.4% during the fourth quarter. First Eagle Investment Management LLC now owns 229,826 shares of the textile maker’s stock worth $9,653,000 after buying an additional 7,499 shares during the last quarter. Finally, Norges Bank acquired a new position in Steven Madden during the fourth quarter worth $19,846,000. 99.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SHOO has been the topic of several analyst reports. StockNews.com downgraded shares of Steven Madden from a “buy” rating to a “hold” rating in a research report on Tuesday, August 27th. BTIG Research raised their price target on Steven Madden from $50.00 to $53.00 and gave the company a “buy” rating in a research report on Thursday, June 6th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $44.00 price target on shares of Steven Madden in a research report on Wednesday, July 31st. Wedbush reaffirmed a “neutral” rating and issued a $41.00 price target on shares of Steven Madden in a research report on Wednesday, August 7th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $45.00 price target on shares of Steven Madden in a research report on Friday, August 23rd. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $44.29.

Steven Madden Stock Down 1.2 %

SHOO stock opened at $43.97 on Thursday. Steven Madden, Ltd. has a twelve month low of $30.35 and a twelve month high of $47.24. The company has a market cap of $3.19 billion, a PE ratio of 18.17 and a beta of 1.08. The business’s 50-day simple moving average is $43.56 and its 200 day simple moving average is $42.54.

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

Steven Madden Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Friday, September 13th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend is Friday, September 13th. Steven Madden’s dividend payout ratio (DPR) is presently 34.71%.

Insider Buying and Selling

In related news, Director Peter Migliorini sold 3,000 shares of Steven Madden stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $43.81, for a total transaction of $131,430.00. Following the sale, the director now directly owns 16,006 shares of the company’s stock, valued at $701,222.86. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 2.08% of the stock is owned by company insiders.

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.