Principal Financial Group Inc. Has $16.35 Million Holdings in Steven Madden, Ltd. (NASDAQ:SHOO)

Principal Financial Group Inc. trimmed its holdings in Steven Madden, Ltd. (NASDAQ:SHOOGet Rating) by 12.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 507,553 shares of the textile maker’s stock after selling 74,462 shares during the period. Principal Financial Group Inc. owned about 0.64% of Steven Madden worth $16,349,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. WINTON GROUP Ltd acquired a new position in Steven Madden in the second quarter valued at about $661,000. Lazard Asset Management LLC grew its stake in Steven Madden by 24.5% in the second quarter. Lazard Asset Management LLC now owns 64,904 shares of the textile maker’s stock valued at $2,090,000 after acquiring an additional 12,770 shares during the period. Duality Advisers LP acquired a new position in shares of Steven Madden during the second quarter worth about $859,000. Oppenheimer Asset Management Inc. boosted its position in shares of Steven Madden by 21.1% during the second quarter. Oppenheimer Asset Management Inc. now owns 8,854 shares of the textile maker’s stock worth $285,000 after buying an additional 1,540 shares during the period. Finally, Oppenheimer & Co. Inc. acquired a new position in shares of Steven Madden during the second quarter worth about $358,000. 93.27% of the stock is owned by institutional investors and hedge funds.

Steven Madden Stock Performance

SHOO opened at $34.41 on Thursday. Steven Madden, Ltd. has a 52-week low of $26.36 and a 52-week high of $49.85. The firm has a market capitalization of $2.68 billion, a PE ratio of 10.89 and a beta of 1.09. The business’s 50-day simple moving average is $29.64 and its 200 day simple moving average is $32.32.

Steven Madden Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Friday, December 16th will be paid a $0.21 dividend. The ex-dividend date is Thursday, December 15th. This represents a $0.84 annualized dividend and a yield of 2.44%. Steven Madden’s dividend payout ratio is 26.58%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Loop Capital cut Steven Madden from a “buy” rating to a “hold” rating and set a $30.00 price objective for the company. in a research report on Tuesday, September 13th. StockNews.com assumed coverage on Steven Madden in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Citigroup reduced their price objective on Steven Madden from $36.00 to $31.00 and set a “neutral” rating for the company in a research report on Friday, October 21st. B. Riley reduced their price objective on Steven Madden from $58.00 to $49.00 in a research report on Thursday, July 28th. Finally, UBS Group upped their price objective on Steven Madden from $37.00 to $38.00 and gave the stock a “neutral” rating in a research report on Monday, August 1st. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Steven Madden has a consensus rating of “Hold” and an average target price of $40.88.

Steven Madden Profile

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Steven Madden, Ltd. designs, sources, markets, and sells fashion-forward branded and private label footwear, accessories, and apparel for women, men, and children in the United States and internationally. Its Wholesale Footwear segment provides footwear under the Steve Madden, Steven by Steve Madden, Madden Girl, BB Dakota, Dolce Vita, DV Dolce Vita, Betsey Johnson, GREATS, Blondo, Anne Klein, Mad Love, Superga, Madden NYC, and COOL Planet brands, as well as private label footwear.

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Institutional Ownership by Quarter for Steven Madden (NASDAQ:SHOO)

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