Edgestream Partners L.P. Raises Stock Holdings in Steven Madden, Ltd. (NASDAQ:SHOO)

Edgestream Partners L.P. raised its holdings in shares of Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 45.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 266,658 shares of the textile maker's stock after purchasing an additional 83,821 shares during the quarter. Edgestream Partners L.P. owned approximately 0.37% of Steven Madden worth $7,104,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CX Institutional purchased a new stake in shares of Steven Madden in the first quarter worth about $32,000. Quarry LP increased its holdings in Steven Madden by 403.6% during the 4th quarter. Quarry LP now owns 1,385 shares of the textile maker's stock worth $59,000 after acquiring an additional 1,110 shares during the period. CWM LLC lifted its stake in Steven Madden by 231.0% in the 1st quarter. CWM LLC now owns 2,277 shares of the textile maker's stock worth $61,000 after purchasing an additional 1,589 shares in the last quarter. New Age Alpha Advisors LLC purchased a new position in shares of Steven Madden during the 4th quarter valued at $177,000. Finally, Mariner LLC raised its position in shares of Steven Madden by 7.2% in the fourth quarter. Mariner LLC now owns 4,740 shares of the textile maker's stock worth $202,000 after buying an additional 319 shares in the last quarter. Institutional investors own 99.88% of the company's stock.

Steven Madden Stock Up 2.5%

Shares of Steven Madden stock traded up $0.59 during trading on Wednesday, reaching $24.58. The company's stock had a trading volume of 1,627,039 shares, compared to its average volume of 1,139,656. Steven Madden, Ltd. has a 52-week low of $19.05 and a 52-week high of $50.01. The firm's 50-day moving average is $24.89 and its two-hundred day moving average is $29.17. The company has a market cap of $1.79 billion, a price-to-earnings ratio of 10.59 and a beta of 1.10.

Steven Madden (NASDAQ:SHOO - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The textile maker reported $0.60 earnings per share (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 business had revenue of $551.38 million during the quarter, compared to analyst estimates of $557.81 million. During the same period in the prior year, the business posted $0.65 earnings per share. The company's revenue was up .2% on a year-over-year basis. On average, equities research analysts anticipate that Steven Madden, Ltd. will post 2.66 EPS for the current year.

Steven Madden Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Monday, June 9th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, June 9th. This represents a $0.84 annualized dividend and a yield of 3.42%. Steven Madden's payout ratio is 36.21%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on SHOO shares. Needham & Company LLC restated a "hold" rating on shares of Steven Madden in a research report on Friday, May 2nd. UBS Group boosted their price objective on Steven Madden from $22.00 to $23.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Citigroup dropped their target price on shares of Steven Madden from $35.00 to $23.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Telsey Advisory Group reissued a "market perform" rating and issued a $24.00 price target on shares of Steven Madden in a research note on Wednesday, June 4th. Finally, Piper Sandler lowered their price objective on shares of Steven Madden from $35.00 to $25.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Nine equities research 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 target price of $28.50.

Steven Madden Company 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.