Moran Wealth Management LLC boosted its position in shares of Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 485.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 123,621 shares of the textile maker's stock after acquiring an additional 102,495 shares during the period. Moran Wealth Management LLC owned 0.17% of Steven Madden worth $3,293,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently bought and sold shares of SHOO. First Trust Advisors LP grew its position in Steven Madden by 36.9% during the fourth quarter. First Trust Advisors LP now owns 2,002,228 shares of the textile maker's stock valued at $85,135,000 after buying an additional 539,738 shares during the period. Raymond James Financial Inc. acquired a new position in Steven Madden in the 4th quarter worth about $13,652,000. Norges Bank purchased a new position in Steven Madden during the fourth quarter worth approximately $9,399,000. Trexquant Investment LP boosted its position in Steven Madden by 147.3% during the fourth quarter. Trexquant Investment LP now owns 257,334 shares of the textile maker's stock worth $10,942,000 after purchasing an additional 153,280 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in Steven Madden by 8.6% in the fourth quarter. Invesco Ltd. now owns 1,745,456 shares of the textile maker's stock valued at $74,217,000 after purchasing an additional 138,065 shares during the period. Hedge funds and other institutional investors own 99.88% of the company's stock.
Steven Madden Price Performance
Shares of NASDAQ:SHOO traded up $0.83 during mid-day trading on Friday, reaching $24.66. 223,568 shares of the company were exchanged, compared to its average volume of 1,096,071. Steven Madden, Ltd. has a 1 year low of $19.05 and a 1 year high of $50.01. The firm's 50-day simple moving average is $23.67 and its 200 day simple moving average is $30.89. The firm has a market cap of $1.79 billion, a price-to-earnings ratio of 10.62 and a beta of 1.12.
Steven Madden (NASDAQ:SHOO - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The textile maker reported $0.60 EPS for the quarter, beating the consensus estimate of $0.46 by $0.14. Steven Madden had a net margin of 7.26% and a return on equity of 21.63%. The company had revenue of $551.38 million during the quarter, compared to analysts' expectations of $557.81 million. During the same quarter last year, the company posted $0.65 EPS. The firm's revenue was up .2% compared to the same quarter last year. On average, research analysts forecast that Steven Madden, Ltd. will post 2.66 earnings per share for the current fiscal year.
Steven Madden Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Monday, June 9th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.41%. The ex-dividend date was Monday, June 9th. Steven Madden's payout ratio is 36.21%.
Analyst Ratings Changes
A number of brokerages have recently issued reports on SHOO. UBS Group increased their target price on Steven Madden from $22.00 to $23.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Piper Sandler reduced their price objective on shares of Steven Madden from $35.00 to $25.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Needham & Company LLC reiterated a "hold" rating on shares of Steven Madden in a research report on Friday, May 2nd. Loop Capital reduced their price target on shares of Steven Madden from $40.00 to $35.00 and set a "hold" rating for the company in a research report on Thursday, February 27th. Finally, Citigroup decreased their price target on shares of Steven Madden from $35.00 to $23.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. Nine investment analysts have rated the stock with a hold rating, According to data from MarketBeat, Steven Madden has a consensus rating of "Hold" and an average price target of $28.50.
Check Out Our Latest Stock Analysis on SHOO
Steven Madden Company 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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