Bank of America Corp DE grew its stake in shares of Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 4.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 751,627 shares of the textile maker's stock after purchasing an additional 35,259 shares during the period. Bank of America Corp DE owned approximately 1.03% of Steven Madden worth $25,495,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in SHOO. AQR Capital Management LLC purchased a new stake in Steven Madden during the first quarter worth about $752,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Steven Madden by 3.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,919 shares of the textile maker's stock valued at $1,143,000 after acquiring an additional 1,437 shares during the period. Millennium Management LLC lifted its position in shares of Steven Madden by 1,170.4% during the 1st quarter. Millennium Management LLC now owns 617,049 shares of the textile maker's stock valued at $16,438,000 after acquiring an additional 568,477 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Steven Madden by 5.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 202,270 shares of the textile maker's stock worth $5,388,000 after acquiring an additional 10,603 shares in the last quarter. Finally, Jane Street Group LLC boosted its stake in shares of Steven Madden by 273.1% during the 1st quarter. Jane Street Group LLC now owns 157,492 shares of the textile maker's stock worth $4,196,000 after acquiring an additional 115,284 shares in the last quarter. 99.88% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several equities analysts recently issued reports on the company. Telsey Advisory Group lifted their price objective on Steven Madden from $50.00 to $55.00 and gave the stock an "outperform" rating in a report on Friday, July 31st. BTIG Research restated a "buy" rating and issued a $50.00 price target on shares of Steven Madden in a research report on Monday, July 27th. Piper Sandler set a $55.00 price target on Steven Madden and gave the stock an "overweight" rating in a research note on Wednesday, August 5th. Citigroup reissued a "buy" rating and issued a $55.00 price objective (up from $45.00) on shares of Steven Madden in a research note on Friday, July 31st. Finally, Zacks Research downgraded shares of Steven Madden from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 4th. Five equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $49.75.
Read Our Latest Analysis on SHOO
Insiders Place Their Bets
In related news, Director Al Ferrara sold 3,918 shares of the stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $48.26, for a total transaction of $189,082.68. Following the transaction, the director directly owned 26,197 shares in the company, valued at approximately $1,264,267.22. This represents a 13.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Mitchell S. Klipper sold 3,918 shares of the firm's stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $48.54, for a total value of $190,179.72. Following the completion of the sale, the director directly owned 32,555 shares in the company, valued at approximately $1,580,219.70. The trade was a 10.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 15,356 shares of company stock valued at $717,204. Insiders own 2.21% of the company's stock.
Steven Madden Stock Down 1.1%
SHOO opened at $46.60 on Tuesday. The firm has a market cap of $3.41 billion, a P/E ratio of 23.42 and a beta of 1.14. The business's fifty day simple moving average is $44.09 and its 200 day simple moving average is $40.13. Steven Madden, Ltd. has a 52 week low of $26.05 and a 52 week high of $49.70. The company has a quick ratio of 1.13, a current ratio of 1.91 and a debt-to-equity ratio of 0.13.
Steven Madden (NASDAQ:SHOO - Get Free Report) last announced its earnings results on Thursday, July 30th. The textile maker reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.11. The firm had revenue of $665.87 million during the quarter, compared to the consensus estimate of $635.39 million. Steven Madden had a net margin of 5.23% and a return on equity of 13.85%. The firm's revenue for the quarter was up 19.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.20 EPS. Steven Madden has set its FY 2026 guidance at 2.050-2.150 EPS. As a group, equities research analysts anticipate that Steven Madden, Ltd. will post 2.14 EPS for the current fiscal year.
Steven Madden Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Friday, September 11th will be issued a $0.21 dividend. The ex-dividend date is Friday, September 11th. This represents a $0.84 annualized dividend and a yield of 1.8%. Steven Madden's payout ratio is 42.21%.
About Steven Madden
(
Free Report)
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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