Cramer Rosenthal Mcglynn LLC Purchases 436,197 Shares of Steven Madden, Ltd. $SHOO

Key Points

• Cramer Rosenthal McGlynn LLC grew its stake in Steven Madden by 254.7%, buying 436,197 shares to hold 607,476 shares (about $20.34M, ~0.84% ownership), making SHOO its 28th-largest position.
• Other institutions also added shares — notably Vanguard (+200,013 to 8.28M shares) and Invesco (+814,318 in Q2) — leaving institutional ownership at 99.88%.
• Analysts are mixed with a consensus Hold and $43.43 target; the company recently beat EPS ($0.48 vs. $0.46), reported revenue up 29.6% YoY but slightly below expectations, and announced a $0.21 quarterly dividend (2.4% yield) with a high 135.48% payout ratio.

Cramer Rosenthal Mcglynn LLC grew its position in Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 254.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 607,476 shares of the textile maker's stock after purchasing an additional 436,197 shares during the period. Steven Madden comprises about 1.3% of Cramer Rosenthal Mcglynn LLC's portfolio, making the stock its 28th largest position. Cramer Rosenthal Mcglynn LLC owned about 0.84% of Steven Madden worth $20,338,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Steven Madden by 2.5% in the 3rd quarter. Vanguard Group Inc. now owns 8,283,806 shares of the textile maker's stock valued at $277,342,000 after buying an additional 200,013 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Steven Madden by 1.7% during the third quarter. Dimensional Fund Advisors LP now owns 2,450,539 shares of the textile maker's stock valued at $82,046,000 after acquiring an additional 41,947 shares during the last quarter. Invesco Ltd. lifted its holdings in Steven Madden by 50.5% during the second quarter. Invesco Ltd. now owns 2,426,926 shares of the textile maker's stock worth $58,198,000 after acquiring an additional 814,318 shares during the period. Geode Capital Management LLC boosted its position in Steven Madden by 1.9% in the second quarter. Geode Capital Management LLC now owns 1,790,038 shares of the textile maker's stock worth $42,931,000 after purchasing an additional 32,604 shares during the last quarter. Finally, Neumeier Poma Investment Counsel LLC grew its stake in Steven Madden by 155.9% in the 3rd quarter. Neumeier Poma Investment Counsel LLC now owns 955,010 shares of the textile maker's stock valued at $31,974,000 after purchasing an additional 581,745 shares during the period. 99.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SHOO has been the topic of a number of research analyst reports. Telsey Advisory Group reissued an "outperform" rating and issued a $50.00 price target on shares of Steven Madden in a report on Thursday, February 26th. Zacks Research downgraded Steven Madden from a "strong-buy" rating to a "hold" rating in a research report on Thursday, February 5th. Jefferies Financial Group cut shares of Steven Madden from a "hold" rating to an "underperform" rating and set a $30.00 price objective for the company. in a research note on Thursday, February 5th. BTIG Research restated a "buy" rating and issued a $50.00 target price on shares of Steven Madden in a research note on Thursday, February 26th. Finally, Piper Sandler boosted their target price on Steven Madden from $40.00 to $50.00 and gave the stock an "overweight" rating in a research report on Thursday, November 6th. 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 data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $43.43.

Steven Madden Stock Performance

Shares of Steven Madden stock opened at $34.75 on Friday. Steven Madden, Ltd. has a 12 month low of $19.05 and a 12 month high of $46.88. The business has a fifty day simple moving average of $41.22 and a two-hundred day simple moving average of $37.64. The firm has a market capitalization of $2.53 billion, a P/E ratio of 56.05 and a beta of 1.13. The company has a current ratio of 1.90, a quick ratio of 1.11 and a debt-to-equity ratio of 0.26.

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

Steven Madden Announces Dividend

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

Steven Madden Company 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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