State Street Corp Raises Position in Steven Madden, Ltd. (NASDAQ:SHOO)

State Street Corp increased its stake in shares of Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 1.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,756,075 shares of the textile maker's stock after acquiring an additional 47,017 shares during the period. State Street Corp owned about 3.82% of Steven Madden worth $135,020,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in SHOO. Gladius Capital Management LP acquired a new stake in shares of Steven Madden in the third quarter worth approximately $36,000. Blue Trust Inc. grew 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 valued at $35,000 after buying an additional 825 shares in the last quarter. Exchange Traded Concepts LLC acquired a new stake in shares of Steven Madden in the 3rd quarter worth $59,000. GAMMA Investing LLC raised its holdings in shares of Steven Madden by 80.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,329 shares of the textile maker's stock worth $65,000 after acquiring an additional 593 shares during the period. Finally, International Assets Investment Management LLC grew its holdings in shares of Steven Madden by 4,800.0% in the third quarter. International Assets Investment Management LLC now owns 1,911 shares of the textile maker's stock valued at $94,000 after purchasing an additional 1,872 shares during the period. Institutional investors and hedge funds own 99.88% of the company's stock.

Analyst Upgrades and Downgrades

SHOO has been the topic of a number of analyst reports. Needham & Company LLC reaffirmed a "hold" rating on shares of Steven Madden in a research note on Thursday, December 5th. Citigroup upped their price target on Steven Madden from $43.00 to $45.00 and gave the company a "neutral" rating in a research note on Friday, November 8th. Telsey Advisory Group reiterated a "market perform" rating and set a $50.00 price target on shares of Steven Madden in a report on Wednesday, November 13th. Piper Sandler restated a "neutral" rating and issued a $45.00 price objective on shares of Steven Madden in a report on Friday, August 23rd. Finally, StockNews.com lowered Steven Madden from a "buy" rating to a "hold" rating in a research report on Sunday, November 24th. Eight investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Steven Madden has an average rating of "Hold" and an average price target of $45.43.

Steven Madden Trading Up 0.3 %

SHOO traded up $0.15 on Friday, hitting $43.67. 513,202 shares of the company were exchanged, compared to its average volume of 660,831. The company has a market cap of $3.15 billion, a price-to-earnings ratio of 18.58 and a beta of 1.07. The firm has a 50-day moving average price of $45.25 and a two-hundred day moving average price of $44.70. Steven Madden, Ltd. has a twelve month low of $37.99 and a twelve month high of $50.01.

Steven Madden (NASDAQ:SHOO - Get Free Report) last released its earnings results on Thursday, November 7th. The textile maker reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates 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 analyst estimates of $607.89 million. During the same period in the prior year, the firm earned $0.88 earnings per share. The business's quarterly revenue was up 13.0% compared to the same quarter last year. Equities analysts expect that Steven Madden, Ltd. will post 2.66 EPS for the current year.

Steven Madden Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.84 annualized dividend and a dividend yield of 1.92%. Steven Madden's dividend payout ratio (DPR) is currently 35.74%.

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.