Bank of Montreal Can lowered its holdings in shares of Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 71.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,378 shares of the textile maker's stock after selling 25,828 shares during the quarter. Bank of Montreal Can's holdings in Steven Madden were worth $453,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in SHOO. Capital Research Global Investors increased its stake in Steven Madden by 8.6% during the 1st quarter. Capital Research Global Investors now owns 1,856,001 shares of the textile maker's stock worth $78,472,000 after buying an additional 146,324 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Steven Madden by 0.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 873,682 shares of the textile maker's stock worth $36,957,000 after purchasing an additional 5,451 shares during the last quarter. Fort Washington Investment Advisors Inc. OH boosted its stake in Steven Madden by 10.1% during the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 501,457 shares of the textile maker's stock worth $21,212,000 after purchasing an additional 45,910 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Steven Madden by 19.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 463,515 shares of the textile maker's stock worth $19,468,000 after buying an additional 75,034 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its stake in shares of Steven Madden by 0.5% in the first quarter. Principal Financial Group Inc. now owns 387,205 shares of the textile maker's stock worth $16,371,000 after buying an additional 1,923 shares in the last quarter. 99.88% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on SHOO shares. StockNews.com raised Steven Madden from a "hold" rating to a "buy" rating in a research report on Wednesday, September 18th. Wedbush restated a "neutral" rating and issued a $41.00 price target on shares of Steven Madden in a research report on Wednesday, August 7th. Piper Sandler reissued a "neutral" rating and set a $45.00 target price on shares of Steven Madden in a research note on Friday, August 23rd. Finally, Telsey Advisory Group reissued a "market perform" rating and set a $44.00 price target on shares of Steven Madden in a research note on Wednesday, July 31st. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $44.29.
View Our Latest Research Report on SHOO
Steven Madden Price Performance
Shares of NASDAQ SHOO traded up $0.07 during midday trading on Thursday, reaching $47.04. 422,790 shares of the company traded hands, compared to its average volume of 703,676. The stock has a 50-day moving average price of $45.27 and a 200 day moving average price of $43.30. The company has a market cap of $3.42 billion, a price-to-earnings ratio of 19.41 and a beta of 1.08. Steven Madden, Ltd. has a 52 week low of $31.34 and a 52 week high of $50.01.
Steven Madden (NASDAQ:SHOO - Get Free Report) last announced its 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 business had revenue of $523.60 million during the quarter, compared to the consensus estimate of $515.15 million. Steven Madden had a return on equity of 23.49% and a net margin of 8.36%. Steven Madden's revenue was up 17.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.47 earnings per share. As a group, analysts expect that Steven Madden, Ltd. will post 2.62 EPS for the current year.
Steven Madden Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Friday, September 13th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.79%. The ex-dividend date was Friday, September 13th. Steven Madden's payout ratio is 34.71%.
Steven Madden Profile
(
Free Report)
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.
Read More
Before you consider Steven Madden, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Steven Madden wasn't on the list.
While Steven Madden currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
As the AI market heats up, investors who have a vision for artificial intelligence have the potential to see real returns. Learn about the industry as a whole as well as seven companies that are getting work done with the power of AI.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
