Weiss Asset Management LP purchased a new position in shares of Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 256,339 shares of the textile maker's stock, valued at approximately $12,558,000. Weiss Asset Management LP owned about 0.36% of Steven Madden at the end of the most recent reporting period.
Several other large investors have also modified their holdings of the stock. Mackenzie Financial Corp raised its position in Steven Madden by 3.1% in the second quarter. Mackenzie Financial Corp now owns 8,232 shares of the textile maker's stock worth $348,000 after acquiring an additional 248 shares in the last quarter. Louisiana State Employees Retirement System increased its position in shares of Steven Madden by 1.2% in the third quarter. Louisiana State Employees Retirement System now owns 35,100 shares of the textile maker's stock valued at $1,720,000 after buying an additional 400 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of 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 buying an additional 484 shares in the last quarter. AlphaMark Advisors LLC increased its position in shares of Steven Madden by 7.4% in the second quarter. AlphaMark Advisors LLC now owns 7,785 shares of the textile maker's stock valued at $329,000 after buying an additional 535 shares in the last quarter. Finally, KBC Group NV increased its position in shares of Steven Madden by 34.1% in the third quarter. KBC Group NV now owns 2,208 shares of the textile maker's stock valued at $108,000 after buying an additional 561 shares in the last quarter. Hedge funds and other institutional investors own 99.88% of the company's stock.
Wall Street Analysts Forecast Growth
A number of analysts recently commented on the company. Needham & Company LLC reaffirmed a "hold" rating on shares of Steven Madden in a research note on Thursday. 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 increased their price objective on Steven Madden from $43.00 to $45.00 and gave the company a "neutral" rating in a research note on Friday, November 8th. StockNews.com lowered Steven Madden from a "buy" rating to a "hold" rating in a research note on Sunday, November 24th. Finally, Telsey Advisory Group reaffirmed a "market perform" rating and set a $50.00 price objective on shares of Steven Madden in a research note on Wednesday, November 13th. Eight equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $45.43.
Check Out Our Latest Research Report on SHOO
Steven Madden Stock Up 0.8 %
Shares of NASDAQ SHOO traded up $0.37 during midday trading on Friday, hitting $44.84. The stock had a trading volume of 395,880 shares, compared to its average volume of 707,903. The company has a market capitalization of $3.24 billion, a price-to-earnings ratio of 18.99 and a beta of 1.07. Steven Madden, Ltd. has a 1-year low of $37.99 and a 1-year high of $50.01. The company has a fifty day moving average price of $45.85 and a 200 day moving average price of $44.62.
Steven Madden (NASDAQ:SHOO - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $624.68 million for the quarter, compared to analyst estimates of $607.89 million. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. The company's revenue was up 13.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.88 EPS. On average, research analysts forecast that Steven Madden, Ltd. will post 2.66 EPS for the current year.
Steven Madden Dividend Announcement
The business 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 dividend of $0.21 per share. The ex-dividend date is Friday, December 13th. This represents a $0.84 annualized dividend and a dividend yield of 1.87%. Steven Madden's payout ratio is currently 35.74%.
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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