ProShare Advisors LLC Has $477,000 Stock Position in Steven Madden, Ltd. (NASDAQ:SHOO)

ProShare Advisors LLC cut its stake in Steven Madden, Ltd. (NASDAQ:SHOO) by 23.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,280 shares of the textile maker’s stock after selling 3,537 shares during the period. ProShare Advisors LLC’s holdings in Steven Madden were worth $477,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of SHOO. Blue Trust Inc. grew its position in 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 acquiring an additional 825 shares during the period. Fidelis Capital Partners LLC bought a new stake in shares of Steven Madden in the 1st quarter worth about $47,000. EntryPoint Capital LLC acquired a new stake in shares of Steven Madden during the 1st quarter worth about $81,000. nVerses Capital LLC lifted its holdings in Steven Madden by 3,600.0% during the 2nd quarter. nVerses Capital LLC now owns 3,700 shares of the textile maker’s stock valued at $157,000 after purchasing an additional 3,600 shares during the last quarter. Finally, Central Pacific Bank Trust Division acquired a new position in Steven Madden in the first quarter valued at about $170,000. Institutional investors own 99.88% of the company’s stock.

Steven Madden Stock Performance

NASDAQ SHOO opened at $48.99 on Tuesday. The stock has a market capitalization of $3.59 billion, a P/E ratio of 20.24 and a beta of 1.08. Steven Madden, Ltd. has a 52 week low of $31.01 and a 52 week high of $49.29. The stock has a fifty day moving average of $44.69 and a 200-day moving average of $42.97.

Steven Madden (NASDAQ:SHOO) last announced 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. Steven Madden had a return on equity of 23.49% and a net margin of 8.36%. The firm had revenue of $523.60 million during the quarter, compared to analyst estimates of $515.15 million. During the same period last year, the company earned $0.47 earnings per share. The company’s revenue was up 17.6% on a year-over-year basis. Equities research analysts forecast that Steven Madden, Ltd. will post 2.62 earnings per share for the current fiscal year.

Steven Madden Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Friday, September 13th were issued a $0.21 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.84 annualized dividend and a yield of 1.71%. Steven Madden’s dividend payout ratio is currently 34.71%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on SHOO shares. BTIG Research raised their price objective on shares of Steven Madden from $50.00 to $53.00 and gave the stock a “buy” rating in a report on Thursday, June 6th. Piper Sandler reaffirmed a “neutral” rating and set a $45.00 price target on shares of Steven Madden in a report on Friday, August 23rd. StockNews.com raised Steven Madden from a “hold” rating to a “buy” rating in a research note on Wednesday, September 18th. Wedbush restated a “neutral” rating and set a $41.00 target price on shares of Steven Madden in a report on Wednesday, August 7th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $44.00 price target on shares of Steven Madden in a report on Wednesday, July 31st. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $44.29.

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.