Victory Capital Management Inc. Boosts Position in Steven Madden, Ltd. (NASDAQ:SHOO)

Victory Capital Management Inc. boosted its stake in Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 46.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,212,373 shares of the textile maker's stock after purchasing an additional 384,979 shares during the period. Victory Capital Management Inc. owned about 1.67% of Steven Madden worth $32,298,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Edgestream Partners L.P. increased its stake 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 period. MQS Management LLC bought a new stake in shares of Steven Madden in the 1st quarter worth approximately $291,000. CWM LLC grew its position in shares of 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 buying an additional 1,589 shares during the last quarter. Alps Advisors Inc. grew its position in shares of Steven Madden by 1.5% in the 1st quarter. Alps Advisors Inc. now owns 135,654 shares of the textile maker's stock worth $3,614,000 after buying an additional 1,994 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of Steven Madden by 2.8% in the 1st quarter. Principal Financial Group Inc. now owns 391,937 shares of the textile maker's stock worth $10,441,000 after buying an additional 10,741 shares during the last quarter. 99.88% of the stock is owned by hedge funds and other institutional investors.

Steven Madden Stock Performance

Shares of SHOO traded down $0.08 during trading hours on Wednesday, hitting $27.06. The company had a trading volume of 453,526 shares, compared to its average volume of 1,151,967. The firm has a fifty day moving average price of $25.00 and a 200-day moving average price of $28.64. The stock has a market capitalization of $1.97 billion, a price-to-earnings ratio of 11.68 and a beta of 1.10. Steven Madden, Ltd. has a 52-week low of $19.05 and a 52-week high of $50.01.

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, topping the consensus estimate of $0.46 by $0.14. The firm had revenue of $551.38 million during the quarter, compared to analyst estimates of $557.81 million. Steven Madden had a return on equity of 21.63% and a net margin of 7.26%. Steven Madden's quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.65 EPS. Research analysts anticipate that Steven Madden, Ltd. will post 2.66 earnings per share for the current fiscal year.

Steven Madden Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Monday, June 9th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.10%. The ex-dividend date of this dividend was Monday, June 9th. Steven Madden's dividend payout ratio is currently 36.21%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Citigroup upgraded Steven Madden from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $26.00 to $32.00 in a research report on Thursday, July 17th. Needham & Company LLC restated a "hold" rating on shares of Steven Madden in a research report on Friday, May 2nd. Piper Sandler dropped their price target on Steven Madden from $35.00 to $25.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. UBS Group lifted their price target on Steven Madden from $22.00 to $23.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Finally, Telsey Advisory Group restated a "market perform" rating and set a $24.00 price target on shares of Steven Madden in a research report on Wednesday. Eight equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, Steven Madden currently has an average rating of "Hold" and a consensus target price of $30.00.

Steven Madden 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.