Legato Capital Management LLC Buys New Shares in Steven Madden, Ltd. (NASDAQ:SHOO)

Legato Capital Management LLC purchased a new stake in Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 14,632 shares of the textile maker's stock, valued at approximately $619,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. AlphaMark Advisors LLC raised its stake in Steven Madden by 7.4% in the 2nd quarter. AlphaMark Advisors LLC now owns 7,785 shares of the textile maker's stock worth $329,000 after acquiring an additional 535 shares during the last quarter. Yousif Capital Management LLC lifted its holdings in shares of Steven Madden by 1.8% during the fourth quarter. Yousif Capital Management LLC now owns 35,824 shares of the textile maker's stock worth $1,505,000 after purchasing an additional 634 shares during the period. PNC Financial Services Group Inc. boosted its holdings in shares of Steven Madden by 6.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 13,185 shares of the textile maker's stock valued at $554,000 after acquiring an additional 761 shares during the last quarter. GAMMA Investing LLC purchased a new stake in shares of Steven Madden in the 4th quarter valued at $32,000. Finally, Texas Permanent School Fund Corp lifted its position in Steven Madden by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 61,378 shares of the textile maker's stock valued at $2,595,000 after purchasing an additional 794 shares during the period. 99.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on SHOO shares. BTIG Research lifted their price objective on Steven Madden from $50.00 to $53.00 and gave the company a "buy" rating in a research note on Thursday, June 6th. StockNews.com lowered shares of Steven Madden from a "buy" rating to a "hold" rating in a research report on Tuesday. Wedbush reiterated a "neutral" rating and issued a $41.00 price objective on shares of Steven Madden in a research report on Wednesday, August 7th. Telsey Advisory Group restated a "market perform" rating and issued a $44.00 price objective on shares of Steven Madden in a research report on Wednesday, July 31st. Finally, Piper Sandler reissued a "neutral" rating and issued a $45.00 price target on shares of Steven Madden in a research note on Friday, August 23rd. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $44.29.

Steven Madden Stock Performance

Shares of NASDAQ SHOO traded down $0.33 during midday trading on Wednesday, reaching $44.13. 414,693 shares of the stock were exchanged, compared to its average volume of 716,715. Steven Madden, Ltd. has a twelve month low of $30.35 and a twelve month high of $47.24. The stock has a market capitalization of $3.24 billion, a P/E ratio of 18.24 and a beta of 1.09. The company has a 50 day simple moving average of $43.46 and a 200 day simple moving average of $42.48.

Steven Madden (NASDAQ:SHOO - Get Free Report) last posted its earnings results on Wednesday, July 31st. The textile maker reported $0.57 EPS for the quarter, beating analysts' consensus estimates of $0.51 by $0.06. The company had revenue of $523.60 million for the quarter, compared to the consensus estimate of $515.15 million. Steven Madden had a return on equity of 23.49% and a net margin of 8.36%. The company's revenue for the quarter was up 17.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.47 earnings per share. On average, research analysts expect that Steven Madden, Ltd. will post 2.62 earnings per share for the current year.

Steven Madden Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Friday, September 13th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.90%. The ex-dividend date is Friday, September 13th. Steven Madden's dividend payout ratio (DPR) is presently 34.71%.

Insider Transactions at Steven Madden

In related news, Director Rose Peabody Lynch sold 1,600 shares of Steven Madden stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $44.41, for a total value of $71,056.00. Following the completion of the sale, the director now owns 21,303 shares in the company, valued at approximately $946,066.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Rose Peabody Lynch sold 1,600 shares of the firm's stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $44.41, for a total transaction of $71,056.00. Following the completion of the transaction, the director now directly owns 21,303 shares in the company, valued at approximately $946,066.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Karla Frieders sold 10,000 shares of Steven Madden stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $44.91, for a total transaction of $449,100.00. Following the completion of the transaction, the insider now owns 86,658 shares of the company's stock, valued at approximately $3,891,810.78. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,600 shares of company stock worth $651,586. 2.08% of the stock is currently owned by insiders.

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.