Steven Madden, Ltd. $SHOO Stock Position Decreased by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon reduced its Steven Madden stake by 21.8% in the first quarter, selling 171,711 shares and retaining 616,104 shares valued at about $20.9 million. Institutional investors and hedge funds collectively own 99.88% of the company.
• Analyst sentiment remains generally positive: Steven Madden carries a consensus “Moderate Buy” rating with an average price target of $45.12, while recent firms upgraded the stock to “buy” or “strong buy.”
• Steven Madden beat quarterly earnings and revenue estimates, reporting $0.45 in EPS and $653.1 million in revenue, with sales up 18% year over year. Shares opened at $44.06, near their 12-month high of $47.10, and the company maintains a quarterly dividend of $0.21.

Bank of New York Mellon Corp trimmed its stake in Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 21.8% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 616,104 shares of the textile maker's stock after selling 171,711 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.84% of Steven Madden worth $20,898,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Illinois Municipal Retirement Fund raised its holdings in Steven Madden by 4.3% during the 1st quarter. Illinois Municipal Retirement Fund now owns 39,369 shares of the textile maker's stock worth $1,335,000 after buying an additional 1,621 shares during the period. Fifth Third Bancorp increased its position in shares of Steven Madden by 2,627.1% in the first quarter. Fifth Third Bancorp now owns 18,217 shares of the textile maker's stock worth $618,000 after acquiring an additional 17,549 shares in the last quarter. Signature Resources Capital Management LLC purchased a new position in shares of Steven Madden in the first quarter worth approximately $49,000. Hodges Capital Management Inc. raised its holdings in shares of Steven Madden by 74.9% during the first quarter. Hodges Capital Management Inc. now owns 75,400 shares of the textile maker's stock valued at $2,558,000 after acquiring an additional 32,300 shares during the period. Finally, Elevation Point Wealth Partners LLC acquired a new stake in shares of Steven Madden during the first quarter valued at approximately $268,000. 99.88% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Steven Madden

In related news, Director Arian Simone Reed sold 648 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $39.97, for a total value of $25,900.56. Following the transaction, the director owned 8,057 shares in the company, valued at approximately $322,038.29. This represents a 7.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Christina Ciglar sold 5,147 shares of the firm's stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $44.74, for a total transaction of $230,276.78. Following the transaction, the insider directly owned 35,200 shares in the company, valued at approximately $1,574,848. The trade was a 12.76% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 6,270 shares of company stock valued at $276,992 over the last ninety days. Company insiders own 2.21% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Wall Street Zen upgraded shares of Steven Madden from a "hold" rating to a "buy" rating in a research report on Saturday, June 6th. UBS Group reissued a "neutral" rating and set a $40.00 target price (up from $38.00) on shares of Steven Madden in a research note on Monday, April 27th. BTIG Research restated a "buy" rating and issued a $50.00 target price on shares of Steven Madden in a report on Monday. Weiss Ratings restated a "hold (c)" rating on shares of Steven Madden in a report on Friday, July 17th. Finally, Zacks Research raised Steven Madden from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $45.12.

Steven Madden Stock Up 1.2%

SHOO stock opened at $44.06 on Wednesday. The company has a 50 day moving average of $42.85 and a two-hundred day moving average of $39.91. The company has a market cap of $3.22 billion, a price-to-earnings ratio of 41.96 and a beta of 1.15. Steven Madden, Ltd. has a 12-month low of $22.26 and a 12-month high of $47.10. The company has a quick ratio of 1.42, a current ratio of 2.23 and a debt-to-equity ratio of 0.30.

Steven Madden (NASDAQ:SHOO - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The textile maker reported $0.45 EPS for the quarter, beating the consensus estimate of $0.42 by $0.03. Steven Madden had a net margin of 2.89% and a return on equity of 12.29%. The business had revenue of $653.10 million for the quarter, compared to analysts' expectations of $646.64 million. During the same period in the previous year, the company posted $0.60 EPS. Steven Madden's revenue was up 18.0% on a year-over-year basis. Steven Madden has set its FY 2026 guidance at 2.000-2.100 EPS. On average, equities analysts anticipate that Steven Madden, Ltd. will post 2.11 earnings per share for the current fiscal year.

Steven Madden Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 19th. Shareholders of record on Monday, June 8th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Monday, June 8th. Steven Madden's dividend payout ratio is presently 80.00%.

Steven Madden 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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