abrdn plc Purchases 14,841 Shares of Steven Madden, Ltd. (NASDAQ:SHOO)

abrdn plc grew its holdings in Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 2.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 558,015 shares of the textile maker's stock after purchasing an additional 14,841 shares during the quarter. abrdn plc owned approximately 0.77% of Steven Madden worth $27,242,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Seven Eight Capital LP increased its holdings in Steven Madden by 902.5% in the first quarter. Seven Eight Capital LP now owns 49,265 shares of the textile maker's stock valued at $2,083,000 after purchasing an additional 44,351 shares during the last quarter. Harbor Capital Advisors Inc. boosted its stake in Steven Madden by 273.4% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 48,840 shares of the textile maker's stock worth $2,066,000 after acquiring an additional 35,761 shares during the last quarter. Quantbot Technologies LP acquired a new position in Steven Madden during the first quarter valued at approximately $1,968,000. Magnetar Financial LLC acquired a new position in Steven Madden during the first quarter valued at approximately $876,000. Finally, Jane Street Group LLC increased its stake in Steven Madden by 36.9% in the first quarter. Jane Street Group LLC now owns 183,423 shares of the textile maker's stock valued at $7,755,000 after purchasing an additional 49,432 shares in the last quarter. Institutional investors and hedge funds own 99.88% of the company's stock.

Steven Madden Stock Down 0.5 %

Shares of NASDAQ:SHOO traded down $0.22 during mid-day trading on Friday, reaching $44.75. 830,042 shares of the stock were exchanged, compared to its average volume of 696,585. The stock's 50 day simple moving average is $46.38 and its 200-day simple moving average is $43.96. Steven Madden, Ltd. has a one year low of $32.54 and a one year high of $50.01. The company has a market cap of $3.25 billion, a P/E ratio of 18.27 and a beta of 1.08.

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

Steven Madden Announces Dividend

The firm also recently declared 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. The ex-dividend date was Friday, September 13th. This represents a $0.84 annualized dividend and a yield of 1.88%. Steven Madden's dividend payout ratio (DPR) is presently 34.29%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on SHOO shares. Wedbush reissued a "neutral" rating and issued a $41.00 price target on shares of Steven Madden in a report on Wednesday, August 7th. Piper Sandler reissued a "neutral" rating and issued a $45.00 target price on shares of Steven Madden in a research note on Friday, August 23rd. StockNews.com raised Steven Madden from a "hold" rating to a "buy" rating in a research report on Wednesday, September 18th. Finally, Telsey Advisory Group reiterated a "market perform" rating and set a $50.00 price objective on shares of Steven Madden in a report on Wednesday. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Steven Madden currently has a consensus rating of "Hold" and a consensus price target of $45.14.

Steven Madden 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.