Principal Financial Group Inc. Trims Holdings in Steven Madden, Ltd. (NASDAQ:SHOO)

Principal Financial Group Inc. decreased its position in Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 4.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 368,938 shares of the textile maker's stock after selling 18,267 shares during the quarter. Principal Financial Group Inc. owned approximately 0.50% of Steven Madden worth $15,606,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in SHOO. Blue Trust Inc. grew its holdings in Steven Madden by 9,166.7% during the 2nd quarter. Blue Trust Inc. now owns 834 shares of the textile maker's stock valued at $35,000 after buying an additional 825 shares in the last quarter. Fidelis Capital Partners LLC purchased a new stake in Steven Madden during the 1st quarter valued at $47,000. EntryPoint Capital LLC purchased a new stake in shares of Steven Madden in the first quarter valued at $81,000. Central Pacific Bank Trust Division purchased a new stake in Steven Madden in the 1st quarter worth about $170,000. Finally, AlphaMark Advisors LLC lifted its stake in shares of Steven Madden by 7.4% during 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. Institutional investors own 99.88% of the company's stock.

Wall Street Analyst Weigh In

SHOO has been the subject of several research reports. StockNews.com cut Steven Madden from a "buy" rating to a "hold" rating in a report on Tuesday, August 27th. Piper Sandler reissued a "neutral" rating and issued a $45.00 price objective on shares of Steven Madden in a research report on Friday, August 23rd. BTIG Research boosted their target price on shares of Steven Madden from $50.00 to $53.00 and gave the stock a "buy" rating in a research report on Thursday, June 6th. Telsey Advisory Group reissued a "market perform" rating and issued a $44.00 price objective on shares of Steven Madden in a report on Wednesday, July 31st. Finally, Wedbush reissued a "neutral" rating and set a $41.00 target price on shares of Steven Madden in a report on Wednesday, August 7th. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Steven Madden presently has a consensus rating of "Hold" and a consensus price target of $44.29.

Steven Madden Stock Performance

Steven Madden stock traded down $0.13 during trading on Thursday, reaching $43.84. The company had a trading volume of 651,282 shares, compared to its average volume of 711,704. The firm's 50-day simple moving average is $43.56 and its 200 day simple moving average is $42.54. The firm has a market capitalization of $3.18 billion, a PE ratio of 18.04 and a beta of 1.08. Steven Madden, Ltd. has a 1-year low of $30.35 and a 1-year high of $47.24.

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

Steven Madden Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Friday, September 13th will be given a $0.21 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.84 annualized dividend and a dividend yield of 1.92%. Steven Madden's dividend payout ratio (DPR) is presently 34.71%.

Insider Transactions at Steven Madden

In related news, Director Peter Migliorini sold 3,000 shares of the stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $43.81, for a total value of $131,430.00. Following the completion of the transaction, the director now directly owns 16,006 shares of the company's stock, valued at approximately $701,222.86. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.08% of the company's stock.

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.