Janus Henderson Group PLC lowered its holdings in shares of Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 31.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 670,241 shares of the textile maker's stock after selling 312,791 shares during the period. Janus Henderson Group PLC owned about 0.93% of Steven Madden worth $32,835,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. Blue Trust Inc. raised its position in shares of 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 purchasing an additional 825 shares during the last quarter. Gladius Capital Management LP acquired a new position in shares of Steven Madden in the third quarter worth $36,000. Exchange Traded Concepts LLC purchased a new stake in shares of Steven Madden in the third quarter valued at $59,000. GAMMA Investing LLC boosted its stake in shares of Steven Madden by 80.6% during the third 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 increased its position in 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 in the last quarter. Hedge funds and other institutional investors own 99.88% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on SHOO shares. Needham & Company LLC restated a "hold" rating on shares of Steven Madden in a report on Thursday. Citigroup raised their target price on shares of Steven Madden from $43.00 to $45.00 and gave the stock a "neutral" rating in a research report on Friday, November 8th. StockNews.com downgraded Steven Madden from a "buy" rating to a "hold" rating in a report on Sunday, November 24th. Piper Sandler reaffirmed a "neutral" rating and issued a $45.00 price objective on shares of Steven Madden in a research report on Friday, August 23rd. Finally, Telsey Advisory Group reiterated a "market perform" rating and set a $50.00 target price on shares of Steven Madden in a research report on Wednesday, November 13th. Eight equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Steven Madden currently has a consensus rating of "Hold" and an average target price of $45.43.
Check Out Our Latest Research Report on SHOO
Steven Madden Stock Up 0.6 %
Shares of NASDAQ SHOO traded up $0.27 during midday trading on Friday, hitting $44.74. The stock had a trading volume of 659,439 shares, compared to its average volume of 774,030. The company has a fifty day moving average price of $45.77 and a 200 day moving average price of $44.64. The company has a market capitalization of $3.23 billion, a price-to-earnings ratio of 19.04 and a beta of 1.07. Steven Madden, Ltd. has a 1-year low of $37.99 and a 1-year high of $50.01.
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 for the quarter, beating the consensus estimate of $0.89 by $0.02. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. The business had revenue of $624.68 million during the quarter, compared to analyst estimates of $607.89 million. During the same quarter in the prior year, the firm posted $0.88 earnings per share. The company's revenue was up 13.0% on a year-over-year basis. On average, research analysts forecast that Steven Madden, Ltd. will post 2.66 EPS for the current year.
Steven Madden Announces Dividend
The firm also recently announced 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. The ex-dividend date is Friday, December 13th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.88%. Steven Madden's 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.
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