Vest Financial LLC Takes Position in Steven Madden, Ltd. (NASDAQ:SHOO)

Vest Financial LLC bought a new stake in Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 25,386 shares of the textile maker's stock, valued at approximately $1,074,000.

Several other hedge funds and other institutional investors also recently modified their holdings of SHOO. Blue Trust Inc. boosted its stake in shares of Steven Madden by 9,166.7% during the second quarter. Blue Trust Inc. now owns 834 shares of the textile maker's stock valued at $35,000 after purchasing an additional 825 shares in the last quarter. Fidelis Capital Partners LLC bought a new position in shares of Steven Madden during the first quarter worth about $47,000. EntryPoint Capital LLC bought a new position in shares of Steven Madden during the first quarter worth about $81,000. nVerses Capital LLC boosted its holdings in Steven Madden by 3,600.0% in the second quarter. nVerses Capital LLC now owns 3,700 shares of the textile maker's stock valued at $157,000 after acquiring an additional 3,600 shares during the last quarter. Finally, Central Pacific Bank Trust Division acquired a new position in shares of Steven Madden in the 1st quarter worth approximately $170,000. Institutional investors own 99.88% of the company's stock.

Steven Madden Trading Up 3.4 %

Steven Madden stock traded up $1.50 during midday trading on Friday, reaching $45.61. The stock had a trading volume of 564,249 shares, compared to its average volume of 704,318. The company has a market capitalization of $3.31 billion, a P/E ratio of 18.85 and a beta of 1.08. The company has a fifty day moving average price of $43.81 and a two-hundred day moving average price of $42.55. Steven Madden, Ltd. has a 12 month low of $30.35 and a 12 month high of $47.24.

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

Steven Madden Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Friday, September 13th will be paid a dividend of $0.21 per share. The ex-dividend date is Friday, September 13th. This represents a $0.84 annualized dividend and a dividend yield of 1.84%. Steven Madden's payout ratio is currently 34.71%.

Wall Street Analysts Forecast Growth

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