Vest Financial LLC grew its stake in shares of Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 41.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 80,010 shares of the textile maker's stock after purchasing an additional 23,587 shares during the period. Vest Financial LLC owned about 0.11% of Steven Madden worth $2,131,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its stake in Steven Madden by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 8,097,339 shares of the textile maker's stock valued at $344,299,000 after buying an additional 54,877 shares in the last quarter. First Trust Advisors LP raised its holdings in shares of 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 acquiring an additional 539,738 shares during the period. Invesco Ltd. lifted its position in shares of Steven Madden by 8.6% in the 4th quarter. Invesco Ltd. now owns 1,745,456 shares of the textile maker's stock valued at $74,217,000 after acquiring an additional 138,065 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Steven Madden by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,122,680 shares of the textile maker's stock worth $47,736,000 after purchasing an additional 25,903 shares during the period. Finally, Bank of New York Mellon Corp grew its position in Steven Madden by 2.1% during the 4th quarter. Bank of New York Mellon Corp now owns 837,865 shares of the textile maker's stock worth $35,626,000 after purchasing an additional 17,173 shares in the last quarter. Institutional investors and hedge funds own 99.88% of the company's stock.
Steven Madden Stock Down 5.0%
Shares of SHOO traded down $1.31 during midday trading on Wednesday, reaching $24.65. 1,066,060 shares of the stock were exchanged, compared to its average volume of 1,075,892. The company has a market cap of $1.79 billion, a price-to-earnings ratio of 10.49 and a beta of 1.12. Steven Madden, Ltd. has a 12-month low of $19.05 and a 12-month high of $50.01. The firm has a 50 day simple moving average of $23.06 and a 200-day simple moving average of $32.57.
Steven Madden (NASDAQ:SHOO - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The textile maker reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.14. The firm had revenue of $551.38 million for the quarter, compared to analyst estimates of $557.81 million. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. The company's revenue for the quarter was up .2% on a year-over-year basis. During the same quarter last year, the firm earned $0.65 earnings per share. Research analysts expect that Steven Madden, Ltd. will post 2.66 earnings per share for the current fiscal year.
Steven Madden Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Monday, June 9th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.41%. The ex-dividend date of this dividend is Monday, June 9th. Steven Madden's payout ratio is presently 36.21%.
Analyst Upgrades and Downgrades
SHOO has been the subject of a number of research analyst reports. Needham & Company LLC restated a "hold" rating on shares of Steven Madden in a report on Friday, May 2nd. UBS Group increased their price objective on Steven Madden from $22.00 to $23.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Loop Capital lowered their target price on Steven Madden from $40.00 to $35.00 and set a "hold" rating on the stock in a research note on Thursday, February 27th. Citigroup dropped their target price on Steven Madden from $35.00 to $23.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Finally, Telsey Advisory Group restated a "market perform" rating and set a $24.00 price target on shares of Steven Madden in a report on Wednesday, June 4th. Nine equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $28.50.
View Our Latest Research Report on SHOO
Steven Madden Company Profile
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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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