SG Americas Securities LLC Reduces Stake in Steven Madden, Ltd. (NASDAQ:SHOO)

SG Americas Securities LLC lowered its holdings in shares of Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 84.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,240 shares of the textile maker's stock after selling 17,818 shares during the quarter. SG Americas Securities LLC's holdings in Steven Madden were worth $159,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Goldman Sachs Group Inc. boosted its stake in shares of Steven Madden by 19.3% during the 4th 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 during the last quarter. PNC Financial Services Group Inc. raised its holdings in Steven Madden by 6.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 13,185 shares of the textile maker's stock valued at $554,000 after acquiring an additional 761 shares during the period. Principal Financial Group Inc. raised its holdings in Steven Madden by 0.5% in the 1st quarter. Principal Financial Group Inc. now owns 387,205 shares of the textile maker's stock valued at $16,371,000 after acquiring an additional 1,923 shares during the period. Fidelis Capital Partners LLC bought a new position in shares of Steven Madden during the first quarter worth approximately $47,000. Finally, Central Pacific Bank Trust Division bought a new position in shares of Steven Madden during the first quarter worth approximately $170,000. Institutional investors and hedge funds own 99.88% of the company's stock.

Wall Street Analysts Forecast Growth

SHOO has been the topic of several recent research reports. Telsey Advisory Group reaffirmed a "market perform" rating and set a $44.00 target price on shares of Steven Madden in a report on Wednesday, July 31st. Wedbush restated a "neutral" rating and issued a $41.00 target price on shares of Steven Madden in a research report on Wednesday, August 7th. StockNews.com upgraded shares of Steven Madden from a "hold" rating to a "buy" rating in a report on Wednesday, September 18th. Finally, 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. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $44.29.

Steven Madden Stock Down 0.3 %

SHOO traded down $0.13 during midday trading on Friday, hitting $45.30. The company had a trading volume of 539,498 shares, compared to its average volume of 698,669. Steven Madden, Ltd. has a 52 week low of $31.56 and a 52 week high of $50.01. The company has a market capitalization of $3.29 billion, a price-to-earnings ratio of 18.54 and a beta of 1.08. The stock's 50 day moving average price is $46.27 and its 200 day moving average price is $43.73.

Steven Madden (NASDAQ:SHOO - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $523.60 million during the quarter, compared to analysts' expectations 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 was up 17.6% on a year-over-year basis. During the same period last year, the company earned $0.47 earnings per share. Research analysts predict that Steven Madden, Ltd. will post 2.62 EPS for the current year.

Steven Madden Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Friday, September 13th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.85%. The ex-dividend date was Friday, September 13th. Steven Madden's dividend payout ratio (DPR) is presently 34.29%.

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.