Charles Schwab Investment Management Inc. Raises Stock Holdings in Steven Madden, Ltd. (NASDAQ:SHOO)

Charles Schwab Investment Management Inc. increased its position in shares of Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 3.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,096,777 shares of the textile maker's stock after purchasing an additional 32,696 shares during the period. Charles Schwab Investment Management Inc. owned 1.51% of Steven Madden worth $53,731,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Mackenzie Financial Corp raised its position in shares of Steven Madden by 3.1% during the 2nd quarter. Mackenzie Financial Corp now owns 8,232 shares of the textile maker's stock valued at $348,000 after buying an additional 248 shares during the period. Louisiana State Employees Retirement System increased its stake in Steven Madden by 1.2% during the third quarter. Louisiana State Employees Retirement System now owns 35,100 shares of the textile maker's stock worth $1,720,000 after acquiring an additional 400 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Steven Madden by 1.2% in the second quarter. The Manufacturers Life Insurance Company now owns 40,141 shares of the textile maker's stock valued at $1,698,000 after purchasing an additional 484 shares during the period. AlphaMark Advisors LLC lifted its stake in shares of Steven Madden by 7.4% in the 2nd quarter. AlphaMark Advisors LLC now owns 7,785 shares of the textile maker's stock valued at $329,000 after purchasing an additional 535 shares during the last quarter. Finally, KBC Group NV grew its holdings in shares of Steven Madden by 34.1% during the 3rd quarter. KBC Group NV now owns 2,208 shares of the textile maker's stock worth $108,000 after purchasing an additional 561 shares during the period. 99.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Wedbush reaffirmed a "neutral" rating and issued a $41.00 target price on shares of Steven Madden in a research report on Wednesday, August 7th. Piper Sandler reaffirmed a "neutral" rating and set a $45.00 price objective on shares of Steven Madden in a research report on Friday, August 23rd. Telsey Advisory Group reissued a "market perform" rating and issued a $50.00 target price on shares of Steven Madden in a research report on Wednesday, November 13th. Needham & Company LLC assumed coverage on Steven Madden in a research report on Friday, November 22nd. They set a "hold" rating for the company. Finally, Citigroup boosted their price objective on Steven Madden from $43.00 to $45.00 and gave the company a "neutral" rating in a report on Friday, November 8th. Eight research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, Steven Madden presently has a consensus rating of "Hold" and an average target price of $45.43.

Steven Madden Stock Up 1.7 %

NASDAQ SHOO traded up $0.74 during trading hours on Friday, hitting $45.58. 513,040 shares of the company were exchanged, compared to its average volume of 816,667. The company has a 50 day moving average of $46.07 and a two-hundred day moving average of $44.53. The firm has a market cap of $3.29 billion, a price-to-earnings ratio of 19.40 and a beta of 1.08. Steven Madden, Ltd. has a 52-week low of $37.52 and a 52-week high of $50.01.

Steven Madden (NASDAQ:SHOO - Get Free Report) last issued its earnings results on Thursday, November 7th. The textile maker reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.02. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. The firm had revenue of $624.68 million for the quarter, compared to analysts' expectations of $607.89 million. During the same quarter last year, the company earned $0.88 earnings per share. The firm's revenue was up 13.0% compared to the same quarter last year. On average, equities research analysts predict that Steven Madden, Ltd. will post 2.66 EPS for the current year.

Steven Madden Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.84%. The ex-dividend date of this dividend is Friday, December 13th. Steven Madden's dividend payout ratio (DPR) is presently 35.74%.

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.