Northern Trust Corp Has $20.83 Million Position in Steven Madden, Ltd. $SHOO

Northern Trust Corp decreased its position in shares of Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 3.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 781,818 shares of the textile maker's stock after selling 28,445 shares during the quarter. Northern Trust Corp owned about 1.08% of Steven Madden worth $20,828,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Deutsche Bank AG lifted its stake in Steven Madden by 49.0% in the fourth quarter. Deutsche Bank AG now owns 64,998 shares of the textile maker's stock valued at $2,764,000 after buying an additional 21,363 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Steven Madden by 2.8% in the first quarter. Principal Financial Group Inc. now owns 391,937 shares of the textile maker's stock valued at $10,441,000 after buying an additional 10,741 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Steven Madden by 29.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,455,381 shares of the textile maker's stock valued at $39,907,000 after buying an additional 332,689 shares in the last quarter. Harbor Capital Advisors Inc. lifted its stake in Steven Madden by 62.3% in the first quarter. Harbor Capital Advisors Inc. now owns 201,696 shares of the textile maker's stock valued at $5,373,000 after buying an additional 77,425 shares in the last quarter. Finally, Millennium Management LLC bought a new position in Steven Madden in the fourth quarter valued at approximately $2,065,000. Institutional investors own 99.88% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Wall Street Zen lowered shares of Steven Madden from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $26.00 price target (up previously from $24.00) on shares of Steven Madden in a research note on Wednesday, July 30th. UBS Group lifted their price target on shares of Steven Madden from $23.00 to $26.00 and gave the company a "neutral" rating in a research note on Monday, July 28th. Needham & Company LLC reiterated a "hold" rating on shares of Steven Madden in a report on Wednesday, July 30th. Finally, Citigroup upgraded shares of Steven Madden from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $26.00 to $32.00 in a report on Thursday, July 17th. One research analyst has rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, Steven Madden has an average rating of "Hold" and a consensus target price of $28.80.

Steven Madden Stock Up 3.5%

SHOO traded up $1.01 during trading on Thursday, reaching $30.12. 1,667,762 shares of the stock were exchanged, compared to its average volume of 1,553,208. The stock has a market cap of $2.19 billion, a P/E ratio of 23.72 and a beta of 1.21. Steven Madden, Ltd. has a twelve month low of $19.05 and a twelve month high of $50.01. The stock's 50 day moving average price is $26.27 and its two-hundred day moving average price is $25.85. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.13 and a current ratio of 2.01.

Steven Madden (NASDAQ:SHOO - Get Free Report) last issued its earnings results on Wednesday, July 30th. The textile maker reported $0.20 earnings per share for the quarter, missing analysts' consensus estimates of $0.24 by ($0.04). The firm had revenue of $556.09 million for the quarter, compared to analyst estimates of $575.83 million. Steven Madden had a return on equity of 18.32% and a net margin of 3.92%.Steven Madden's quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.57 earnings per share. Equities analysts expect that Steven Madden, Ltd. will post 2.66 EPS for the current year.

Steven Madden Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 23rd. Investors of record on Friday, September 12th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Friday, September 12th. Steven Madden's payout ratio is presently 66.14%.

Steven Madden Profile

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.