Wellington Management Group LLP decreased its holdings in shares of Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 12.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,749,636 shares of the textile maker's stock after selling 672,026 shares during the period. Wellington Management Group LLP owned 6.58% of Steven Madden worth $232,685,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in SHOO. State Street Corp boosted its holdings in Steven Madden by 1.7% in the third quarter. State Street Corp now owns 2,756,075 shares of the textile maker's stock worth $135,020,000 after acquiring an additional 47,017 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Steven Madden by 3.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,096,777 shares of the textile maker's stock worth $53,731,000 after acquiring an additional 32,696 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Steven Madden by 0.6% in the second quarter. Bank of New York Mellon Corp now owns 873,682 shares of the textile maker's stock worth $36,957,000 after purchasing an additional 5,451 shares during the last quarter. Fisher Asset Management LLC raised its stake in shares of Steven Madden by 0.6% in the third quarter. Fisher Asset Management LLC now owns 728,674 shares of the textile maker's stock worth $35,698,000 after purchasing an additional 4,108 shares during the last quarter. Finally, abrdn plc raised its stake in shares of Steven Madden by 2.7% in the third quarter. abrdn plc now owns 558,015 shares of the textile maker's stock worth $27,242,000 after purchasing an additional 14,841 shares during the last quarter. Institutional investors own 99.88% of the company's stock.
Analyst Ratings Changes
SHOO has been the subject of several analyst reports. Piper Sandler reissued a "neutral" rating and issued a $45.00 price objective on shares of Steven Madden in a research note on Friday, August 23rd. StockNews.com downgraded Steven Madden from a "buy" rating to a "hold" rating in a research report on Sunday, November 24th. Needham & Company LLC reaffirmed a "hold" rating on shares of Steven Madden in a research report on Thursday. Citigroup increased their price target on Steven Madden from $43.00 to $45.00 and gave the company a "neutral" rating in a research report on Friday, November 8th. Finally, Telsey Advisory Group reaffirmed a "market perform" rating and set a $50.00 price target on shares of Steven Madden in a research report on Wednesday, November 13th. Eight equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $45.43.
Check Out Our Latest Report on Steven Madden
Steven Madden Stock Performance
NASDAQ SHOO traded down $0.90 on Monday, hitting $43.84. 697,382 shares of the stock traded hands, compared to its average volume of 709,073. The business's fifty day moving average is $45.77 and its two-hundred day moving average is $44.68. Steven Madden, Ltd. has a 12 month low of $37.99 and a 12 month high of $50.01. The firm has a market capitalization of $3.16 billion, a price-to-earnings ratio of 18.85 and a beta of 1.07.
Steven Madden (NASDAQ:SHOO - Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The textile maker reported $0.91 EPS for the quarter, topping analysts' consensus estimates 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 during 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 business's revenue for the quarter was up 13.0% on a year-over-year basis. Analysts expect that Steven Madden, Ltd. will post 2.66 EPS for the current fiscal year.
Steven Madden Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date of this dividend is Friday, December 13th. Steven Madden's payout ratio is currently 35.74%.
Steven Madden Profile
(
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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