The Manufacturers Life Insurance Company Buys 484 Shares of Steven Madden, Ltd. (NASDAQ:SHOO)

The Manufacturers Life Insurance Company boosted its holdings in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 1.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,141 shares of the textile maker’s stock after acquiring an additional 484 shares during the period. The Manufacturers Life Insurance Company owned about 0.05% of Steven Madden worth $1,698,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Blue Trust Inc. raised its position in Steven Madden by 9,166.7% during the 2nd quarter. Blue Trust Inc. now owns 834 shares of the textile maker’s stock worth $35,000 after buying an additional 825 shares during the last quarter. Fidelis Capital Partners LLC acquired a new stake in Steven Madden in the 1st quarter valued at $47,000. EntryPoint Capital LLC acquired a new stake in Steven Madden in the 1st quarter valued at $81,000. nVerses Capital LLC grew its stake in Steven Madden by 3,600.0% in the 2nd quarter. nVerses Capital LLC now owns 3,700 shares of the textile maker’s stock valued at $157,000 after acquiring an additional 3,600 shares during the period. Finally, Central Pacific Bank Trust Division purchased a new position in Steven Madden in the 1st quarter valued at $170,000. 99.88% of the stock is currently owned by institutional investors.

Steven Madden Stock Up 0.1 %

NASDAQ SHOO opened at $47.04 on Friday. Steven Madden, Ltd. has a 52-week low of $31.34 and a 52-week high of $50.01. The business’s 50-day moving average price is $45.34 and its 200 day moving average price is $43.33. The firm has a market cap of $3.42 billion, a P/E ratio of 19.44 and a beta of 1.08.

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

Steven Madden Dividend Announcement

The business 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 was Friday, September 13th. This represents a $0.84 annualized dividend and a dividend yield of 1.79%. Steven Madden’s dividend payout ratio is currently 34.71%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SHOO. Telsey Advisory Group reiterated a “market perform” rating and set a $44.00 price target on shares of Steven Madden in a report on Wednesday, July 31st. Wedbush reiterated a “neutral” rating and set a $41.00 target price on shares of Steven Madden in a report on Wednesday, August 7th. Piper Sandler reaffirmed a “neutral” rating and set a $45.00 price objective on shares of Steven Madden in a research report on Friday, August 23rd. Finally, StockNews.com upgraded shares of Steven Madden from a “hold” rating to a “buy” rating in a research note on Wednesday, September 18th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average 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.