Wellington Management Group LLP Sells 383,517 Shares of Steven Madden, Ltd. $SHOO

Key Points

• Wellington Management reduced its Steven Madden stake by 21%, selling 383,517 shares in the second quarter and retaining 1.44 million shares worth approximately $60.7 million. Institutional investors collectively own 99.88% of the company.
• Analyst sentiment is mixed but generally constructive: the consensus rating is “Hold” with a $49.75 price target, while several firms recently raised targets to between $52 and $56.
• Steven Madden beat quarterly expectations, reporting $0.44 in EPS and $665.9 million in revenue, with revenue up 19.1% year over year. The company also declared a quarterly dividend of $0.21 per share, representing a 2.0% annualized yield.

Wellington Management Group LLP trimmed its holdings in shares of Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 21.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,441,358 shares of the textile maker's stock after selling 383,517 shares during the period. Wellington Management Group LLP owned about 1.97% of Steven Madden worth $60,681,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Los Angeles Capital Management LLC bought a new stake in shares of Steven Madden in the 4th quarter valued at about $30,000. Global Retirement Partners LLC grew its position in Steven Madden by 1,064.3% during the 4th quarter. Global Retirement Partners LLC now owns 815 shares of the textile maker's stock worth $34,000 after acquiring an additional 745 shares during the last quarter. Farther Finance Advisors LLC increased its stake in Steven Madden by 79.4% in the 4th quarter. Farther Finance Advisors LLC now owns 983 shares of the textile maker's stock worth $41,000 after purchasing an additional 435 shares during the period. Kestra Advisory Services LLC bought a new stake in Steven Madden in the fourth quarter valued at approximately $43,000. Finally, EverSource Wealth Advisors LLC lifted its position in Steven Madden by 86.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,045 shares of the textile maker's stock valued at $25,000 after purchasing an additional 485 shares during the last quarter. 99.88% of the stock is owned by institutional investors.

Insider Buying and Selling at Steven Madden

In related news, Director Mitchell S. Klipper sold 3,918 shares of the stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $48.54, for a total value of $190,179.72. Following the completion of the transaction, the director directly owned 32,555 shares in the company, valued at $1,580,219.70. This trade represents a 10.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Christina Ciglar sold 5,147 shares of Steven Madden stock in a transaction dated 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 of the company's stock, valued at approximately $1,574,848. This trade represents a 12.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 14,233 shares of company stock worth $670,489. Corporate insiders own 2.21% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SHOO. UBS Group restated a "neutral" rating and issued a $45.00 target price (up from $40.00) on shares of Steven Madden in a report on Friday, July 31st. Telsey Advisory Group increased their price target on shares of Steven Madden from $50.00 to $55.00 and gave the company an "outperform" rating in a research report on Friday, July 31st. Williams Trading set a $56.00 price target on shares of Steven Madden in a report on Monday, August 3rd. Needham & Company LLC boosted their price objective on shares of Steven Madden from $45.00 to $52.00 and gave the company a "buy" rating in a research report on Friday, June 12th. Finally, Piper Sandler set a $55.00 price objective on shares of Steven Madden and gave the company an "overweight" rating in a research note on Wednesday, August 5th. Five research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $49.75.

Steven Madden Stock Up 1.3%

SHOO stock opened at $41.99 on Thursday. Steven Madden, Ltd. has a fifty-two week low of $28.91 and a fifty-two week high of $49.70. The company has a market capitalization of $3.07 billion, a price-to-earnings ratio of 21.10 and a beta of 1.15. The business's 50 day moving average price is $44.26 and its two-hundred day moving average price is $40.54. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.13 and a current ratio of 1.91.

Steven Madden (NASDAQ:SHOO - Get Free Report) last released its earnings results on Thursday, July 30th. The textile maker reported $0.44 EPS for the quarter, beating analysts' consensus estimates of $0.33 by $0.11. Steven Madden had a return on equity of 13.85% and a net margin of 5.23%.The company had revenue of $665.87 million during the quarter, compared to analysts' expectations of $635.39 million. During the same quarter last year, the business posted $0.20 EPS. The firm's revenue for the quarter was up 19.1% compared to the same quarter last year. Steven Madden has set its FY 2026 guidance at 2.050-2.150 EPS. As a group, analysts forecast that Steven Madden, Ltd. will post 2.15 earnings per share for the current fiscal year.

Steven Madden Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Friday, September 11th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, September 11th. This represents a $0.84 annualized dividend and a yield of 2.0%. Steven Madden's dividend payout ratio (DPR) is currently 42.21%.

About Steven Madden

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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