Ceredex Value Advisors LLC Makes New $10.01 Million Investment in Steven Madden, Ltd. $SHOO

Key Points

• Ceredex Value Advisors LLC purchased a new stake of 299,000 shares in Steven Madden valued at approximately $10.01 million, representing about 0.41% ownership.
• Steven Madden beat quarterly EPS estimates ($0.48 vs. $0.46) and reported revenue up 29.6% year‑over‑year, and declared a quarterly dividend of $0.21 (annualized $0.84) with a payout ratio of 135.48%.
• Analysts have a consensus "Hold" rating on SHOO with a consensus price target of $44.00, reflecting mixed views (five Buy, three Hold, one Sell).

Ceredex Value Advisors LLC bought a new stake in Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 299,000 shares of the textile maker's stock, valued at approximately $10,011,000. Ceredex Value Advisors LLC owned 0.41% of Steven Madden as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. SBI Securities Co. Ltd. purchased a new position in shares of Steven Madden in the 3rd quarter valued at about $31,000. EverSource Wealth Advisors LLC boosted its holdings in Steven Madden by 86.6% during the second quarter. EverSource Wealth Advisors LLC now owns 1,045 shares of the textile maker's stock worth $25,000 after buying an additional 485 shares in the last quarter. Parkside Financial Bank & Trust grew its position in Steven Madden by 616.8% during the third quarter. Parkside Financial Bank & Trust now owns 2,136 shares of the textile maker's stock worth $72,000 after buying an additional 1,838 shares during the period. State of Wyoming grew its position in Steven Madden by 117.3% during the third quarter. State of Wyoming now owns 3,800 shares of the textile maker's stock worth $127,000 after buying an additional 2,051 shares during the period. Finally, Nisa Investment Advisors LLC increased its holdings in Steven Madden by 172.2% in the third quarter. Nisa Investment Advisors LLC now owns 5,523 shares of the textile maker's stock valued at $185,000 after buying an additional 3,494 shares in the last quarter. 99.88% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Zacks Research downgraded shares of Steven Madden from a "strong-buy" rating to a "hold" rating in a research report on Thursday, February 5th. Telsey Advisory Group restated an "outperform" rating and issued a $50.00 price target on shares of Steven Madden in a report on Thursday, February 26th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Steven Madden in a research note on Thursday, January 22nd. Williams Trading set a $48.00 target price on Steven Madden in a research report on Tuesday. Finally, UBS Group reissued a "neutral" rating on shares of Steven Madden in a report on Monday, February 23rd. Five equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Steven Madden presently has an average rating of "Hold" and a consensus target price of $44.00.

Steven Madden Stock Up 2.8%

SHOO stock opened at $34.56 on Wednesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.90 and a quick ratio of 1.11. The company's 50 day simple moving average is $40.70 and its 200-day simple moving average is $37.93. Steven Madden, Ltd. has a 12 month low of $19.05 and a 12 month high of $46.88. The firm has a market capitalization of $2.52 billion, a PE ratio of 55.74 and a beta of 1.13.

Steven Madden (NASDAQ:SHOO - Get Free Report) last issued its quarterly earnings data on Wednesday, February 25th. The textile maker reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.02. The firm had revenue of $753.70 million during the quarter, compared to the consensus estimate of $758.53 million. Steven Madden had a return on equity of 13.60% and a net margin of 1.76%.The company's quarterly revenue was up 29.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.55 EPS. Equities analysts expect that Steven Madden, Ltd. will post 2.66 earnings per share for the current fiscal year.

Steven Madden Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Wednesday, March 11th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Wednesday, March 11th. Steven Madden's dividend payout ratio is currently 135.48%.

Steven Madden Profile

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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