Los Angeles Capital Management LLC Buys 26,443 Shares of Steven Madden, Ltd. (NASDAQ:SHOO)

Los Angeles Capital Management LLC grew its position in Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 190.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,321 shares of the textile maker's stock after buying an additional 26,443 shares during the quarter. Los Angeles Capital Management LLC owned approximately 0.05% of Steven Madden worth $1,706,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SHOO. Charles Schwab Investment Management Inc. increased its holdings in Steven Madden by 2.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,024,238 shares of the textile maker's stock worth $43,018,000 after buying an additional 26,177 shares during the last quarter. Seven Eight Capital LP raised its stake in shares of Steven Madden by 902.5% in the 1st quarter. Seven Eight Capital LP now owns 49,265 shares of the textile maker's stock valued at $2,083,000 after buying an additional 44,351 shares in the last quarter. Harbor Capital Advisors Inc. raised its stake in shares of Steven Madden by 273.4% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 48,840 shares of the textile maker's stock valued at $2,066,000 after buying an additional 35,761 shares in the last quarter. Corient Private Wealth LLC bought a new position in shares of Steven Madden during the 4th quarter worth about $809,000. Finally, Quantbot Technologies LP acquired a new stake in shares of Steven Madden during the 1st quarter valued at about $1,968,000. Institutional investors and hedge funds own 99.88% of the company's stock.

Steven Madden Price Performance

Shares of SHOO stock traded up $0.24 during trading hours on Wednesday, hitting $43.55. 510,479 shares of the company's stock were exchanged, compared to its average volume of 706,328. The stock's 50-day moving average is $43.70 and its 200-day moving average is $42.52. The stock has a market cap of $3.16 billion, a price-to-earnings ratio of 18.00 and a beta of 1.08. Steven Madden, Ltd. has a 52 week low of $30.35 and a 52 week high of $47.24.

Steven Madden (NASDAQ:SHOO - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $523.60 million for the quarter, compared to analyst estimates of $515.15 million. Steven Madden had a return on equity of 23.49% and a net margin of 8.36%. The business's quarterly revenue was up 17.6% compared to the same quarter last year. During the same period last year, the company earned $0.47 EPS. Equities research analysts forecast that Steven Madden, Ltd. will post 2.62 earnings per share for the current fiscal year.

Steven Madden Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Friday, September 13th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.84 annualized dividend and a yield of 1.93%. Steven Madden's dividend payout ratio is currently 34.71%.

Analysts Set New Price Targets

Several research firms recently issued reports on SHOO. StockNews.com lowered shares of Steven Madden from a "buy" rating to a "hold" rating in a research report on Tuesday, August 27th. Telsey Advisory Group reiterated a "market perform" rating and issued a $44.00 price target on shares of Steven Madden in a research report on Wednesday, July 31st. Piper Sandler reissued a "neutral" rating and set a $45.00 price objective on shares of Steven Madden in a report on Friday, August 23rd. Wedbush reaffirmed a "neutral" rating and issued a $41.00 target price on shares of Steven Madden in a report on Wednesday, August 7th. Finally, BTIG Research increased 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. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $44.29.

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.