Nicholas Investment Partners LP Takes Position in Steven Madden, Ltd. (NASDAQ:SHOO)

Nicholas Investment Partners LP purchased a new position in Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 114,964 shares of the textile maker's stock, valued at approximately $4,863,000. Nicholas Investment Partners LP owned about 0.16% of Steven Madden at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. AlphaMark Advisors LLC boosted its position 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 valued at $329,000 after acquiring an additional 535 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Steven Madden by 6.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 13,185 shares of the textile maker's stock worth $554,000 after purchasing an additional 761 shares during the last quarter. Texas Permanent School Fund Corp increased its stake in shares of Steven Madden by 1.3% in 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 buying an additional 794 shares in the last quarter. ProShare Advisors LLC raised its holdings in shares of Steven Madden by 5.8% in the first quarter. ProShare Advisors LLC now owns 14,817 shares of the textile maker's stock valued at $626,000 after buying an additional 807 shares during the last quarter. Finally, Blue Trust Inc. lifted its position in 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 buying an additional 825 shares in the last quarter. Institutional investors own 99.88% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SHOO. StockNews.com lowered 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 set a $44.00 price target on shares of Steven Madden in a research report on Wednesday, July 31st. Wedbush restated a "neutral" rating and issued a $41.00 price objective on shares of Steven Madden in a report on Wednesday, August 7th. Piper Sandler reaffirmed a "neutral" rating and set a $45.00 target price on shares of Steven Madden in a report on Friday, August 23rd. Finally, BTIG Research raised their price target on 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, Steven Madden has an average rating of "Hold" and a consensus price target of $44.29.

Steven Madden Price Performance

NASDAQ:SHOO traded up $0.56 during trading hours on Thursday, reaching $44.11. 492,611 shares of the stock were exchanged, compared to its average volume of 705,114. The stock has a market cap of $3.20 billion, a PE ratio of 18.23 and a beta of 1.08. Steven Madden, Ltd. has a twelve month low of $30.35 and a twelve month high of $47.24. The firm has a 50 day moving average of $43.74 and a 200 day moving average of $42.53.

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

Steven Madden Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Friday, September 13th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend is Friday, September 13th. Steven Madden's dividend payout ratio is currently 34.71%.

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.