Bank of New York Mellon Corp purchased a new position in shares of Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 608,499 shares of the textile maker's stock, valued at approximately $25,618,000. Bank of New York Mellon Corp owned about 0.83% of Steven Madden as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of the business. Handelsbanken Fonder AB lifted its stake in Steven Madden by 14.5% in the second quarter. Handelsbanken Fonder AB now owns 25,203 shares of the textile maker's stock worth $1,061,000 after purchasing an additional 3,200 shares during the last quarter. GAMMA Investing LLC grew its stake in Steven Madden by 2.6% in the second quarter. GAMMA Investing LLC now owns 9,984 shares of the textile maker's stock worth $420,000 after purchasing an additional 257 shares during the period. CX Institutional grew its stake in Steven Madden by 2.0% in the second quarter. CX Institutional now owns 67,571 shares of the textile maker's stock worth $2,845,000 after purchasing an additional 1,334 shares during the period. Empowered Funds LLC bought a new position in Steven Madden in the first quarter worth $275,000. Finally, Bank of America Corp DE lifted its position in Steven Madden by 4.9% during the first quarter. Bank of America Corp DE now owns 751,627 shares of the textile maker's stock valued at $25,495,000 after buying an additional 35,259 shares during the period. 99.88% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
SHOO has been the topic of several analyst reports. Citigroup reaffirmed a "buy" rating and issued a $55.00 price objective (up from $45.00) on shares of Steven Madden in a research report on Friday, July 31st. Wall Street Zen lowered Steven Madden from a "strong-buy" rating to a "buy" rating in a report on Saturday. UBS Group reissued a "neutral" rating and issued a $45.00 price objective (up from $40.00) on shares of Steven Madden in a research note on Friday, July 31st. Zacks Research downgraded Steven Madden from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 4th. Finally, Needham & Company LLC lifted their price objective on shares of Steven Madden from $45.00 to $52.00 and gave the company a "buy" rating in a research report on Friday, June 12th. Five analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $49.75.
Check Out Our Latest Analysis on SHOO
Steven Madden Price Performance
SHOO stock opened at $44.24 on Friday. The stock has a market cap of $3.24 billion, a PE ratio of 22.23 and a beta of 1.14. Steven Madden, Ltd. has a 12 month low of $28.55 and a 12 month high of $49.70. The company has a 50-day moving average price of $44.27 and a 200 day moving average price of $40.43. The company has a current ratio of 1.91, a quick ratio of 1.13 and a debt-to-equity ratio of 0.13.
Steven Madden (NASDAQ:SHOO - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The textile maker reported $0.44 earnings per share for the quarter, topping analysts' consensus estimates of $0.33 by $0.11. Steven Madden had a net margin of 5.23% and a return on equity of 13.85%. The company had revenue of $665.87 million for the quarter, compared to analyst estimates of $635.39 million. During the same period in the prior year, the company posted $0.20 EPS. The firm's revenue for the quarter was up 19.1% on a year-over-year basis. Steven Madden has set its FY 2026 guidance at 2.050-2.150 EPS. Equities research analysts anticipate that Steven Madden, Ltd. will post 2.15 earnings per share for the current year.
Steven Madden Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Friday, September 11th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Friday, September 11th. Steven Madden's dividend payout ratio (DPR) is currently 42.21%.
Insider Activity at Steven Madden
In other news, Director Arian Simone Reed sold 1,250 shares of the firm's stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $48.76, for a total transaction of $60,950.00. Following the transaction, the director directly owned 8,196 shares of the company's stock, valued at approximately $399,636.96. This trade represents a 13.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Mitchell S. Klipper sold 3,918 shares of the stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $48.54, for a total value of $190,179.72. Following the completion of the transaction, the director directly owned 32,555 shares in the company, valued at approximately $1,580,219.70. This trade represents a 10.74% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 14,708 shares of company stock valued at $691,304. 2.21% of the stock is owned by insiders.
Steven Madden Company Profile
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Free Report)
Steven Madden, Inc NASDAQ: SHOO is a New York–based designer and marketer of fashion footwear, handbags and accessories. The company's product portfolio spans a range of contemporary and lifestyle brands for women, men and children, including its core Steve Madden label as well as the Madden Girl and Dolce Vita brands. In addition to footwear, the company licenses its trademarks for use on apparel, eyewear and other fashion accessories.
Steven Madden distributes its products through multiple channels, including wholesale partners, e-commerce platforms and its own brick-and-mortar retail stores.
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