Intech Investment Management LLC grew its stake in shares of Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 211.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,663 shares of the textile maker's stock after acquiring an additional 16,754 shares during the period. Intech Investment Management LLC's holdings in Steven Madden were worth $1,208,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the company. Gladius Capital Management LP purchased a new position in Steven Madden in the 3rd quarter valued at about $36,000. Blue Trust Inc. boosted its position in Steven Madden by 9,166.7% during the second quarter. Blue Trust Inc. now owns 834 shares of the textile maker's stock worth $35,000 after acquiring an additional 825 shares during the last quarter. Exchange Traded Concepts LLC purchased a new stake in Steven Madden in the 3rd quarter worth approximately $59,000. GAMMA Investing LLC raised its holdings in Steven Madden by 80.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,329 shares of the textile maker's stock valued at $65,000 after acquiring an additional 593 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its stake in shares of Steven Madden by 4,800.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,911 shares of the textile maker's stock worth $94,000 after purchasing an additional 1,872 shares during the period. Hedge funds and other institutional investors own 99.88% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently commented on the company. StockNews.com downgraded Steven Madden from a "buy" rating to a "hold" rating in a research report on Sunday. Piper Sandler reaffirmed a "neutral" rating and set a $45.00 price objective on shares of Steven Madden in a research note on Friday, August 23rd. Telsey Advisory Group reissued a "market perform" rating and issued a $50.00 target price on shares of Steven Madden in a research report on Wednesday, November 13th. Citigroup boosted their target price on shares of Steven Madden from $43.00 to $45.00 and gave the company a "neutral" rating in a report on Friday, November 8th. Finally, Needham & Company LLC initiated coverage on shares of Steven Madden in a research note on Friday, November 22nd. They set a "hold" rating on the stock. Eight equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $45.43.
Read Our Latest Analysis on Steven Madden
Steven Madden Price Performance
NASDAQ SHOO traded up $0.68 during trading hours on Wednesday, hitting $44.84. The company had a trading volume of 560,567 shares, compared to its average volume of 709,471. The firm's 50 day moving average is $46.22 and its 200 day moving average is $44.49. The company has a market capitalization of $3.24 billion, a price-to-earnings ratio of 19.06 and a beta of 1.08. Steven Madden, Ltd. has a fifty-two week low of $37.51 and a fifty-two week high of $50.01.
Steven Madden (NASDAQ:SHOO - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The textile maker reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.02. The company had revenue of $624.68 million for the quarter, compared to the consensus estimate of $607.89 million. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. Steven Madden's revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.88 EPS. On average, equities analysts anticipate that Steven Madden, Ltd. will post 2.65 EPS for the current year.
Steven Madden Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.87%. The ex-dividend date is Friday, December 13th. Steven Madden's dividend payout ratio is currently 35.74%.
Steven Madden Profile
(
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.
Read More
Before you consider Steven Madden, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Steven Madden wasn't on the list.
While Steven Madden currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Almost everyone loves strong dividend-paying stocks, but high yields can signal danger. Discover 20 high-yield dividend stocks paying an unsustainably large percentage of their earnings. Enter your email to get this report and avoid a high-yield dividend trap.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
