Systematic Financial Management LP increased its position in Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 15.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 439,126 shares of the textile maker's stock after acquiring an additional 60,276 shares during the period. Systematic Financial Management LP owned approximately 0.61% of Steven Madden worth $21,513,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Blue Trust Inc. raised its stake in shares of Steven Madden by 9,166.7% during 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 during the last quarter. Gladius Capital Management LP acquired a new stake in shares of Steven Madden during the 3rd quarter valued at about $36,000. Exchange Traded Concepts LLC acquired a new stake in shares of Steven Madden during the 3rd quarter valued at about $59,000. GAMMA Investing LLC grew its position 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 valued at $65,000 after acquiring an additional 593 shares during the period. Finally, International Assets Investment Management LLC grew its position in shares of Steven Madden by 4,800.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,911 shares of the textile maker's stock valued at $94,000 after acquiring an additional 1,872 shares during the period. Hedge funds and other institutional investors own 99.88% of the company's stock.
Steven Madden Stock Down 2.9 %
Shares of Steven Madden stock traded down $1.34 on Thursday, hitting $44.47. 483,406 shares of the company were exchanged, compared to its average volume of 707,917. The stock has a market capitalization of $3.21 billion, a price-to-earnings ratio of 19.49 and a beta of 1.07. The company has a 50-day moving average price of $45.93 and a 200 day moving average price of $44.62. Steven Madden, Ltd. has a 1-year low of $37.99 and a 1-year 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, topping the consensus estimate of $0.89 by $0.02. The business had revenue of $624.68 million for the quarter, compared to analysts' expectations of $607.89 million. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. The business's revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.88 EPS. Research analysts forecast that Steven Madden, Ltd. will post 2.66 EPS for the current year.
Steven Madden Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend is Friday, December 13th. Steven Madden's dividend payout ratio (DPR) is 35.74%.
Analyst Ratings Changes
A number of equities research analysts have recently commented on SHOO shares. StockNews.com cut Steven Madden from a "buy" rating to a "hold" rating in a research report on Sunday, November 24th. Needham & Company LLC restated a "hold" rating on shares of Steven Madden in a research report on Thursday. Citigroup lifted their price objective on Steven Madden from $43.00 to $45.00 and gave the stock a "neutral" rating in a report on Friday, November 8th. Piper Sandler reiterated a "neutral" rating and issued a $45.00 price objective on shares of Steven Madden in a report on Friday, August 23rd. Finally, Telsey Advisory Group reiterated a "market perform" rating and issued a $50.00 price objective on shares of Steven Madden in a report on Wednesday, November 13th. Eight analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $45.43.
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About Steven Madden
(
Free Report)
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.
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