Steven Madden, Ltd. (NASDAQ:SHOO) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its stake in Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 5.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 462,096 shares of the textile maker's stock after acquiring an additional 21,942 shares during the period. JPMorgan Chase & Co. owned approximately 0.64% of Steven Madden worth $22,638,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in SHOO. Tidal Investments LLC raised its stake in shares of Steven Madden by 15.1% in the third quarter. Tidal Investments LLC now owns 17,375 shares of the textile maker's stock valued at $851,000 after acquiring an additional 2,278 shares during the period. Geode Capital Management LLC grew its holdings in Steven Madden by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,710,492 shares of the textile maker's stock valued at $83,812,000 after purchasing an additional 49,075 shares during the last quarter. Barclays PLC raised its position in Steven Madden by 286.9% in the 3rd quarter. Barclays PLC now owns 139,206 shares of the textile maker's stock worth $6,819,000 after purchasing an additional 103,226 shares during the period. Weiss Asset Management LP bought a new stake in Steven Madden in the third quarter worth about $12,558,000. Finally, State Street Corp boosted its position in shares of Steven Madden by 1.7% during the third quarter. State Street Corp now owns 2,756,075 shares of the textile maker's stock valued at $135,020,000 after buying an additional 47,017 shares during the period. 99.88% of the stock is owned by institutional investors.

Steven Madden Stock Performance

Steven Madden stock traded down $0.37 during midday trading on Thursday, hitting $41.19. 473,489 shares of the company's stock were exchanged, compared to its average volume of 581,178. Steven Madden, Ltd. has a 12 month low of $37.99 and a 12 month high of $50.01. The company has a market cap of $2.97 billion, a PE ratio of 17.53 and a beta of 1.08. The firm has a 50-day moving average of $43.58 and a two-hundred day moving average of $44.48.

Steven Madden (NASDAQ:SHOO - Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The textile maker reported $0.91 EPS for the quarter, topping analysts' consensus estimates of $0.89 by $0.02. The company had revenue of $624.68 million during the quarter, compared to the consensus estimate of $607.89 million. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. Steven Madden's revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.88 earnings per share. As a group, equities analysts expect that Steven Madden, Ltd. will post 2.66 earnings per share for the current year.

Steven Madden Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were paid a dividend of $0.21 per share. The ex-dividend date was Friday, December 13th. This represents a $0.84 annualized dividend and a dividend yield of 2.04%. Steven Madden's dividend payout ratio (DPR) is presently 35.74%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Citigroup increased their price target on Steven Madden from $43.00 to $45.00 and gave the stock a "neutral" rating in a report on Friday, November 8th. StockNews.com upgraded Steven Madden from a "hold" rating to a "buy" rating in a research note on Monday. Needham & Company LLC reissued a "hold" rating on shares of Steven Madden in a research note on Thursday, December 5th. Finally, Telsey Advisory Group reaffirmed a "market perform" rating and issued a $50.00 price target on shares of Steven Madden in a research note on Wednesday, November 13th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $46.33.

About Steven Madden

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.