Franklin Resources Inc. decreased its position in Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 33.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 414,074 shares of the textile maker's stock after selling 206,347 shares during the period. Franklin Resources Inc. owned about 0.57% of Steven Madden worth $19,768,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in the company. Gladius Capital Management LP acquired a new stake in Steven Madden in the 3rd quarter valued at about $36,000. Blue Trust Inc. grew its position 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. Exchange Traded Concepts LLC purchased a new position in shares of Steven Madden during the 3rd quarter worth approximately $59,000. GAMMA Investing LLC raised its position in shares of Steven Madden by 80.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,329 shares of the textile maker's stock worth $65,000 after purchasing an additional 593 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its stake in Steven Madden by 4,800.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,911 shares of the textile maker's stock valued at $94,000 after buying an additional 1,872 shares in the last quarter. Hedge funds and other institutional investors own 99.88% of the company's stock.
Analyst Ratings Changes
A number of analysts recently commented on SHOO shares. Citigroup increased their price objective on Steven Madden from $43.00 to $45.00 and gave the company a "neutral" rating in a research note on Friday, November 8th. Piper Sandler reaffirmed a "neutral" rating and set a $45.00 price target on shares of Steven Madden in a research note on Friday, August 23rd. Needham & Company LLC reissued a "hold" rating on shares of Steven Madden in a research report on Thursday, December 5th. StockNews.com raised shares of Steven Madden from a "hold" rating to a "buy" rating in a research note on Thursday. Finally, Telsey Advisory Group reaffirmed a "market perform" rating and issued a $50.00 target price on shares of Steven Madden in a research note on Wednesday, November 13th. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $45.43.
View Our Latest Stock Report on Steven Madden
Steven Madden Stock Performance
Steven Madden stock traded up $0.09 during trading on Friday, reaching $42.83. The company had a trading volume of 3,686,476 shares, compared to its average volume of 720,130. Steven Madden, Ltd. has a 12-month low of $37.99 and a 12-month high of $50.01. The stock's 50 day moving average price is $44.93 and its two-hundred day moving average price is $44.67. The firm has a market capitalization of $3.09 billion, a price-to-earnings ratio of 18.23 and a beta of 1.07.
Steven Madden (NASDAQ:SHOO - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The textile maker reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.02. The company had revenue of $624.68 million during the quarter, compared to analysts' expectations of $607.89 million. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. The business's quarterly revenue was up 13.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.88 EPS. As a group, research analysts expect that Steven Madden, Ltd. will post 2.66 earnings per share for the current year.
Steven Madden Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be issued a $0.21 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.96%. Steven Madden's dividend payout ratio (DPR) is 35.74%.
Steven Madden Profile
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Free Report)
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.
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