Dimensional Fund Advisors LP Has $81.29 Million Stake in Steven Madden, Ltd. (NASDAQ:SHOO)

Dimensional Fund Advisors LP trimmed its position in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 10.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,921,789 shares of the textile maker’s stock after selling 213,557 shares during the period. Dimensional Fund Advisors LP owned 2.62% of Steven Madden worth $81,293,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in SHOO. AlphaMark Advisors LLC increased its holdings in shares of Steven Madden by 7.4% in the second quarter. AlphaMark Advisors LLC now owns 7,785 shares of the textile maker’s stock valued at $329,000 after purchasing an additional 535 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Steven Madden by 6.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 13,185 shares of the textile maker’s stock valued at $554,000 after purchasing an additional 761 shares during the last quarter. Texas Permanent School Fund Corp increased its holdings in shares of Steven Madden by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 61,378 shares of the textile maker’s stock valued at $2,595,000 after purchasing an additional 794 shares during the last quarter. ProShare Advisors LLC increased its holdings in shares of Steven Madden by 5.8% in the first quarter. ProShare Advisors LLC now owns 14,817 shares of the textile maker’s stock valued at $626,000 after purchasing an additional 807 shares during the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of Steven Madden by 9,166.7% in 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. 99.88% of the stock is currently owned by institutional investors and hedge funds.

Steven Madden Stock Performance

Shares of Steven Madden stock opened at $47.81 on Thursday. The firm has a 50-day moving average of $44.41 and a 200-day moving average of $42.82. The stock has a market cap of $3.51 billion, a PE ratio of 19.76 and a beta of 1.08. Steven Madden, Ltd. has a 52-week low of $30.69 and a 52-week high of $49.29.

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

Steven Madden Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Friday, September 13th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.84 annualized dividend and a yield of 1.76%. Steven Madden’s dividend payout ratio is 34.71%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on SHOO shares. Telsey Advisory Group reiterated a “market perform” rating and issued a $44.00 price objective on shares of Steven Madden in a report on Wednesday, July 31st. StockNews.com upgraded shares of Steven Madden from a “hold” rating to a “buy” rating in a report on Wednesday, September 18th. Wedbush reiterated a “neutral” rating and issued a $41.00 price objective on shares of Steven Madden in a report on Wednesday, August 7th. Piper Sandler reissued a “neutral” rating and issued a $45.00 target price on shares of Steven Madden in a research report on Friday, August 23rd. Finally, BTIG Research boosted their target price on shares of Steven Madden from $50.00 to $53.00 and gave the company a “buy” rating in a research report on Thursday, June 6th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $44.29.

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.