Steven Madden, Ltd. (NASDAQ:SHOO) Shares Acquired by abrdn plc

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

Other institutional investors have also recently made changes to their positions in the company. Capital Research Global Investors boosted its stake in shares of Steven Madden by 8.6% in the first quarter. Capital Research Global Investors now owns 1,856,001 shares of the textile maker's stock valued at $78,472,000 after purchasing an additional 146,324 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Steven Madden by 0.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 873,682 shares of the textile maker's stock valued at $36,957,000 after acquiring an additional 5,451 shares during the last quarter. Fort Washington Investment Advisors Inc. OH raised its position in shares of 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 acquiring an additional 45,910 shares in the last quarter. Leeward Investments LLC MA boosted its holdings in Steven Madden by 5.6% in the second quarter. Leeward Investments LLC MA now owns 312,740 shares of the textile maker's stock valued at $13,229,000 after purchasing an additional 16,529 shares in the last quarter. 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 during the last quarter. Hedge funds and other institutional investors own 99.88% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Wedbush reaffirmed a "neutral" rating and set a $41.00 price objective on shares of Steven Madden in a report on Wednesday, August 7th. Piper Sandler reaffirmed a "neutral" rating and issued a $45.00 target price on shares of Steven Madden in a report on Friday, August 23rd. StockNews.com upgraded shares of Steven Madden from a "hold" rating to a "buy" rating in a research note on Wednesday, September 18th. Finally, Telsey Advisory Group reiterated a "market perform" rating and set a $50.00 price target on shares of Steven Madden in a research note on Wednesday. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, Steven Madden has an average rating of "Hold" and an average target price of $45.14.

Steven Madden Price Performance

NASDAQ:SHOO traded down $0.15 on Friday, reaching $44.82. The stock had a trading volume of 373,041 shares, compared to its average volume of 694,429. The company has a market cap of $3.25 billion, a price-to-earnings ratio of 18.36 and a beta of 1.08. The firm's fifty day moving average is $46.37 and its two-hundred day moving average is $43.91. Steven Madden, Ltd. has a 12-month low of $32.54 and a 12-month high of $50.01.

Steven Madden (NASDAQ:SHOO - Get Free Report) last released its earnings results 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 the consensus estimate of $515.15 million. Steven Madden had a net margin of 8.36% and a return on equity of 23.49%. Steven Madden's revenue was up 17.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.47 earnings per share. As a group, research analysts forecast that Steven Madden, Ltd. will post 2.62 earnings per share for the current fiscal year.

Steven Madden Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Friday, September 13th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend was Friday, September 13th. Steven Madden's dividend payout ratio is presently 34.29%.

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.