Exchange Traded Concepts LLC Purchases Shares of 1,214 Steven Madden, Ltd. (NASDAQ:SHOO)

Exchange Traded Concepts LLC purchased a new stake in shares of Steven Madden, Ltd. (NASDAQ:SHOO) in the third quarter, HoldingsChannel.com reports. The institutional investor purchased 1,214 shares of the textile maker’s stock, valued at approximately $59,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Capital Research Global Investors grew its position in Steven Madden by 8.6% in the first quarter. Capital Research Global Investors now owns 1,856,001 shares of the textile maker’s stock worth $78,472,000 after acquiring an additional 146,324 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Steven Madden by 0.6% in the second quarter. Bank of New York Mellon Corp now owns 873,682 shares of the textile maker’s stock worth $36,957,000 after buying an additional 5,451 shares during the last quarter. Fort Washington Investment Advisors Inc. OH boosted its stake in Steven Madden by 10.1% during the second quarter. Fort Washington Investment Advisors Inc. OH now owns 501,457 shares of the textile maker’s stock worth $21,212,000 after buying an additional 45,910 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Steven Madden by 19.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 463,515 shares of the textile maker’s stock valued at $19,468,000 after acquiring an additional 75,034 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in shares of Steven Madden by 0.5% during the 1st quarter. Principal Financial Group Inc. now owns 387,205 shares of the textile maker’s stock worth $16,371,000 after purchasing an additional 1,923 shares during the period. 99.88% of the stock is owned by hedge funds and other institutional investors.

Steven Madden Stock Down 0.8 %

Shares of Steven Madden stock opened at $45.25 on Thursday. Steven Madden, Ltd. has a 52-week low of $31.56 and a 52-week high of $50.01. The firm’s 50 day moving average price is $46.24 and its 200-day moving average price is $43.72. The company has a market cap of $3.32 billion, a P/E ratio of 18.70 and a beta of 1.08.

Steven Madden (NASDAQ:SHOO) last released its quarterly earnings results on Wednesday, July 31st. The textile maker reported $0.57 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $515.15 million. During the same period in the previous year, the company earned $0.47 earnings per share. The business’s revenue for the quarter was up 17.6% on a year-over-year basis. As a group, equities research analysts forecast that Steven Madden, Ltd. will post 2.62 EPS for the current fiscal year.

Steven Madden Dividend Announcement

The firm also recently announced 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. This represents a $0.84 annualized dividend and a yield of 1.86%. The ex-dividend date of this dividend was Friday, September 13th. Steven Madden’s dividend payout ratio is currently 34.71%.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Wedbush restated a “neutral” rating and set a $41.00 target price on shares of Steven Madden in a research report on Wednesday, August 7th. Piper Sandler reiterated a “neutral” rating and set a $45.00 price objective on shares of Steven Madden in a report on Friday, August 23rd. Telsey Advisory Group reissued a “market perform” rating and issued a $44.00 price objective on shares of Steven Madden in a research note on Wednesday, July 31st. Finally, StockNews.com raised shares of Steven Madden from a “hold” rating to a “buy” rating in a research report on Wednesday, September 18th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $44.29.

Steven Madden Company 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.