Steven Madden, Ltd. (NASDAQ:SHOO) Position Boosted by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. increased its holdings in shares of Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 149.8% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 122,005 shares of the textile maker's stock after purchasing an additional 73,165 shares during the quarter. Harbor Capital Advisors Inc. owned 0.17% of Steven Madden worth $5,977,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Blue Trust Inc. boosted its holdings in Steven Madden by 9,166.7% in the 2nd quarter. Blue Trust Inc. now owns 834 shares of the textile maker's stock worth $35,000 after acquiring an additional 825 shares during the period. Fidelis Capital Partners LLC acquired a new position in shares of Steven Madden during the first quarter worth $47,000. Exchange Traded Concepts LLC purchased a new position in shares of Steven Madden in the third quarter valued at $59,000. GAMMA Investing LLC grew its holdings in Steven Madden by 80.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,329 shares of the textile maker's stock valued at $65,000 after purchasing an additional 593 shares in the last quarter. Finally, EntryPoint Capital LLC purchased a new stake in Steven Madden during the 1st quarter worth $81,000. Institutional investors and hedge funds own 99.88% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Piper Sandler restated a "neutral" rating and set a $45.00 price objective on shares of Steven Madden in a research note on Friday, August 23rd. Wedbush reiterated a "neutral" rating and issued a $41.00 price target on shares of Steven Madden in a report on Wednesday, August 7th. Telsey Advisory Group reissued a "market perform" rating and set a $50.00 price target on shares of Steven Madden in a research report on Wednesday, October 30th. Finally, StockNews.com upgraded shares of Steven Madden from a "hold" rating to a "buy" rating in a research report on Wednesday, September 18th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Steven Madden presently has an average rating of "Hold" and a consensus price target of $45.14.

Steven Madden Price Performance

Shares of SHOO stock traded up $0.14 during trading hours on Monday, reaching $44.89. The stock had a trading volume of 654,236 shares, compared to its average volume of 696,386. The firm has a market capitalization of $3.26 billion, a PE ratio of 18.57 and a beta of 1.09. The firm has a 50-day simple moving average of $46.38 and a 200-day simple moving average of $44.03. Steven Madden, Ltd. has a twelve month low of $32.65 and a twelve month high of $50.01.

Steven Madden Announces Dividend

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

About Steven Madden

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.