Edgestream Partners L.P. Trims Holdings in Steven Madden, Ltd. (NASDAQ:SHOO)

Edgestream Partners L.P. cut its holdings in Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 73.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,442 shares of the textile maker's stock after selling 101,540 shares during the quarter. Edgestream Partners L.P. owned approximately 0.05% of Steven Madden worth $1,541,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Blue Trust Inc. boosted its holdings in Steven Madden by 9,166.7% in the second quarter. Blue Trust Inc. now owns 834 shares of the textile maker's stock worth $35,000 after acquiring an additional 825 shares in the last quarter. Fidelis Capital Partners LLC bought a new position in Steven Madden in the 1st quarter worth about $47,000. EntryPoint Capital LLC purchased a new stake in Steven Madden during the 1st quarter valued at about $81,000. nVerses Capital LLC increased its stake in Steven Madden by 3,600.0% during the 2nd quarter. nVerses Capital LLC now owns 3,700 shares of the textile maker's stock valued at $157,000 after purchasing an additional 3,600 shares in the last quarter. Finally, Central Pacific Bank Trust Division bought a new stake in Steven Madden during the 1st quarter valued at about $170,000. 99.88% of the stock is currently owned by institutional investors.

Steven Madden Price Performance

Shares of SHOO traded down $0.42 during trading hours on Friday, hitting $47.47. The stock had a trading volume of 1,436,176 shares, compared to its average volume of 711,267. Steven Madden, Ltd. has a 12 month low of $30.35 and a 12 month high of $48.76. The stock has a fifty day moving average price of $44.12 and a 200 day moving average price of $42.66. The firm has a market capitalization of $3.45 billion, a PE ratio of 19.62 and a beta of 1.08.

Steven Madden (NASDAQ:SHOO - Get Free Report) last released its quarterly earnings results 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 business's revenue for the quarter was up 17.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.47 EPS. As a group, analysts anticipate that Steven Madden, Ltd. will post 2.62 EPS for the current fiscal year.

Steven Madden Dividend Announcement

The firm 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. This represents a $0.84 annualized dividend and a dividend yield of 1.77%. The ex-dividend date of this dividend is Friday, September 13th. Steven Madden's dividend payout ratio is presently 34.71%.

Wall Street Analyst Weigh In

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

Steven Madden Company Profile

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.