Victory Capital Management Inc. grew its holdings in shares of Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 46.5% in the first quarter, according to its most recent filing with the SEC. The firm owned 1,212,373 shares of the textile maker's stock after acquiring an additional 384,979 shares during the quarter. Victory Capital Management Inc. owned about 1.67% of Steven Madden worth $32,298,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of the company. Edgestream Partners L.P. increased its position in Steven Madden by 45.8% in the 1st quarter. Edgestream Partners L.P. now owns 266,658 shares of the textile maker's stock worth $7,104,000 after purchasing an additional 83,821 shares during the last quarter. MQS Management LLC bought a new stake in shares of Steven Madden during the 1st quarter worth about $291,000. CWM LLC boosted its stake in shares of Steven Madden by 231.0% during the 1st quarter. CWM LLC now owns 2,277 shares of the textile maker's stock worth $61,000 after acquiring an additional 1,589 shares in the last quarter. Alps Advisors Inc. grew its holdings in Steven Madden by 1.5% in the 1st quarter. Alps Advisors Inc. now owns 135,654 shares of the textile maker's stock valued at $3,614,000 after buying an additional 1,994 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in Steven Madden by 2.8% in the 1st 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 during the last quarter. Institutional investors and hedge funds own 99.88% of the company's stock.
Analysts Set New Price Targets
Several equities analysts recently commented on the company. Citigroup upgraded Steven Madden from a "neutral" rating to a "buy" rating and raised their target price for the stock from $26.00 to $32.00 in a research report on Thursday, July 17th. Telsey Advisory Group restated a "market perform" rating and set a $24.00 target price on shares of Steven Madden in a research report on Wednesday, June 4th. Needham & Company LLC reaffirmed a "hold" rating on shares of Steven Madden in a report on Friday, May 2nd. Piper Sandler lowered their target price on Steven Madden from $35.00 to $25.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Finally, UBS Group lifted 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. Eight research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $30.00.
Get Our Latest Analysis on SHOO
Steven Madden Stock Performance
Shares of SHOO traded up $1.07 during trading hours on Tuesday, reaching $27.14. The stock had a trading volume of 1,370,837 shares, compared to its average volume of 1,152,763. Steven Madden, Ltd. has a 12 month low of $19.05 and a 12 month high of $50.01. The stock has a market capitalization of $1.97 billion, a PE ratio of 11.70 and a beta of 1.10. The company's 50-day moving average is $25.00 and its two-hundred day moving average is $28.76.
Steven Madden (NASDAQ:SHOO - Get Free Report) last announced its earnings results on Wednesday, May 7th. The textile maker reported $0.60 EPS for the quarter, topping the consensus estimate of $0.46 by $0.14. Steven Madden had a return on equity of 21.63% and a net margin of 7.26%. The firm had revenue of $551.38 million for the quarter, compared to the consensus estimate of $557.81 million. During the same period in the previous year, the business earned $0.65 EPS. The business's quarterly revenue was up .2% compared to the same quarter last year. Equities analysts anticipate that Steven Madden, Ltd. will post 2.66 earnings per share for the current fiscal year.
Steven Madden Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Monday, June 9th were paid a $0.21 dividend. The ex-dividend date of this dividend was Monday, June 9th. This represents a $0.84 annualized dividend and a yield of 3.10%. Steven Madden's payout ratio is 36.21%.
About Steven Madden
(
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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