Eagle Asset Management Inc. Sells 67,908 Shares of Steven Madden, Ltd. (NASDAQ:SHOO)

Eagle Asset Management Inc. trimmed its position in Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 24.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 209,218 shares of the textile maker's stock after selling 67,908 shares during the quarter. Eagle Asset Management Inc. owned approximately 0.29% of Steven Madden worth $9,337,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Nicholas Investment Partners LP acquired a new position in shares of Steven Madden during the 2nd quarter worth about $4,863,000. Squarepoint Ops LLC purchased a new stake in shares of Steven Madden during the 2nd quarter worth approximately $4,550,000. Harbor Capital Advisors Inc. boosted its holdings in shares of Steven Madden by 149.8% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 122,005 shares of the textile maker's stock valued at $5,977,000 after buying an additional 73,165 shares in the last quarter. Landscape Capital Management L.L.C. purchased a new position in shares of Steven Madden in the 3rd quarter valued at $2,614,000. Finally, Jane Street Group LLC raised its stake in Steven Madden by 36.9% during the 1st quarter. Jane Street Group LLC now owns 183,423 shares of the textile maker's stock worth $7,755,000 after acquiring an additional 49,432 shares in the last quarter. 99.88% of the stock is owned by hedge funds and other institutional investors.

Steven Madden Stock Up 1.4 %

SHOO stock traded up $0.58 during trading on Friday, hitting $43.40. 648,401 shares of the company's stock traded hands, compared to its average volume of 811,055. The stock has a market capitalization of $3.13 billion, a price-to-earnings ratio of 18.47 and a beta of 1.08. Steven Madden, Ltd. has a 52 week low of $36.56 and a 52 week high of $50.01. The stock has a fifty day moving average price of $46.29 and a two-hundred day moving average price of $44.42.

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. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. The firm had revenue of $624.68 million for the quarter, compared to analyst estimates of $607.89 million. During the same period last year, the company earned $0.88 earnings per share. The firm's revenue for the quarter was up 13.0% on a year-over-year basis. As a group, equities research analysts expect that Steven Madden, Ltd. will post 2.65 EPS for the current fiscal 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 paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.94%. The ex-dividend date is Friday, December 13th. Steven Madden's dividend payout ratio is presently 35.74%.

Analysts Set New Price Targets

Several research firms have recently weighed in on SHOO. Wedbush reissued a "neutral" rating and issued a $41.00 target price on shares of Steven Madden in a 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 note on Friday, August 23rd. Citigroup lifted their price objective on shares of Steven Madden from $43.00 to $45.00 and gave the company a "neutral" rating in a research report on Friday, November 8th. Needham & Company LLC started coverage on shares of Steven Madden in a research note on Friday. They issued a "hold" rating for the company. Finally, Telsey Advisory Group reaffirmed a "market perform" rating and issued a $50.00 price objective on shares of Steven Madden in a report on Wednesday, November 13th. Eight research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $45.43.

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.