Ensign Peak Advisors Inc lessened its stake in Steven Madden, Ltd. (NASDAQ:SHOO – Get Rating) by 13.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,944 shares of the textile maker’s stock after selling 3,930 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Steven Madden were worth $665,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Parkside Financial Bank & Trust boosted its holdings in shares of Steven Madden by 28.8% in the 3rd quarter. Parkside Financial Bank & Trust now owns 1,843 shares of the textile maker’s stock valued at $49,000 after purchasing an additional 412 shares during the last quarter. Harbor Investment Advisory LLC boosted its holdings in shares of Steven Madden by 18.4% in the 3rd quarter. Harbor Investment Advisory LLC now owns 2,517 shares of the textile maker’s stock valued at $67,000 after purchasing an additional 392 shares during the last quarter. Quadrant Capital Group LLC raised its stake in shares of Steven Madden by 294.3% in the 3rd quarter. Quadrant Capital Group LLC now owns 3,206 shares of the textile maker’s stock valued at $86,000 after acquiring an additional 2,393 shares during the period. Edgestream Partners L.P. purchased a new position in shares of Steven Madden in the 2nd quarter valued at $214,000. Finally, Eqis Capital Management Inc. raised its stake in shares of Steven Madden by 27.6% in the 1st quarter. Eqis Capital Management Inc. now owns 5,955 shares of the textile maker’s stock valued at $230,000 after acquiring an additional 1,288 shares during the period. Institutional investors and hedge funds own 95.30% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages have recently commented on SHOO. Citigroup raised their target price on shares of Steven Madden from $37.00 to $40.00 and gave the company a “neutral” rating in a research note on Friday, February 24th. UBS Group raised their target price on shares of Steven Madden from $32.00 to $33.00 and gave the company a “neutral” rating in a research note on Thursday, February 16th. Loop Capital raised their target price on shares of Steven Madden from $30.00 to $32.00 and gave the company a “hold” rating in a research note on Tuesday, February 14th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $34.00 price target on shares of Steven Madden in a research note on Thursday, February 23rd. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Steven Madden currently has an average rating of “Hold” and an average target price of $39.57.
Steven Madden Stock Performance
Steven Madden (NASDAQ:SHOO – Get Rating) last released its earnings results on Thursday, February 23rd. The textile maker reported $0.44 earnings per share for the quarter, hitting the consensus estimate of $0.44. The company had revenue of $470.60 million during the quarter, compared to the consensus estimate of $456.88 million. Steven Madden had a net margin of 10.18% and a return on equity of 25.81%. The company’s revenue was down 18.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.87 EPS. As a group, sell-side analysts expect that Steven Madden, Ltd. will post 2.48 earnings per share for the current fiscal year.
Steven Madden Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, March 24th. Stockholders of record on Friday, March 10th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.43%. The ex-dividend date of this dividend is Thursday, March 9th. Steven Madden’s payout ratio is currently 30.33%.
About Steven Madden
Steven Madden Ltd. engages in the design, marketing, and sale of fashion-forward footwear for women, men, and children. It operates through the following segments: Wholesale Footwear, Wholesale Accessories and Apparel, Direct-to-Consumer, First Cost, and Licensing. The Wholesale Footwear segment includes branded and private label women’s, men’s, girl’s and children’s footwear.
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