Crossmark Global Holdings Inc. trimmed its holdings in shares of Steven Madden, Ltd. (NASDAQ:SHOO – Free Report) by 6.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,241 shares of the textile maker’s stock after selling 401 shares during the period. Crossmark Global Holdings Inc.’s holdings in Steven Madden were worth $211,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also added to or reduced their stakes in SHOO. Vanguard Group Inc. lifted its position in shares of Steven Madden by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 8,512,437 shares of the textile maker’s stock worth $328,921,000 after purchasing an additional 98,155 shares during the period. Wellington Management Group LLP lifted its holdings in Steven Madden by 9.4% during the first quarter. Wellington Management Group LLP now owns 7,529,549 shares of the textile maker’s stock worth $290,941,000 after buying an additional 648,822 shares during the period. Macquarie Group Ltd. lifted its holdings in Steven Madden by 1.5% during the first quarter. Macquarie Group Ltd. now owns 5,280,204 shares of the textile maker’s stock worth $190,088,000 after buying an additional 76,021 shares during the period. State Street Corp boosted its position in Steven Madden by 3.2% during the 1st quarter. State Street Corp now owns 2,624,652 shares of the textile maker’s stock valued at $101,417,000 after acquiring an additional 80,513 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. increased its holdings in shares of Steven Madden by 3.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,611,231 shares of the textile maker’s stock valued at $83,455,000 after acquiring an additional 84,732 shares during the period. Hedge funds and other institutional investors own 99.88% of the company’s stock.
Wall Street Analyst Weigh In
SHOO has been the topic of a number of recent research reports. Citigroup raised their price objective on Steven Madden from $40.00 to $41.00 and gave the company a “buy” rating in a research report on Thursday, August 3rd. Telsey Advisory Group reiterated a “market perform” rating and set a $39.00 price objective on shares of Steven Madden in a research note on Tuesday, October 24th. UBS Group increased their target price on shares of Steven Madden from $35.00 to $37.00 in a research report on Thursday, August 3rd. StockNews.com lowered shares of Steven Madden from a “buy” rating to a “hold” rating in a report on Saturday, September 30th. Finally, BTIG Research reiterated a “buy” rating and set a $40.00 price objective on shares of Steven Madden in a report on Tuesday, September 19th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $36.33.
Insiders Place Their Bets
In other news, Director Peter Migliorini sold 3,989 shares of the company’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $34.54, for a total value of $137,780.06. Following the sale, the director now directly owns 16,100 shares of the company’s stock, valued at approximately $556,094. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.01% of the stock is currently owned by insiders.
Steven Madden Price Performance
Shares of SHOO opened at $31.73 on Monday. The company’s fifty day moving average price is $32.69 and its 200-day moving average price is $33.10. Steven Madden, Ltd. has a 1-year low of $28.48 and a 1-year high of $37.85. The firm has a market capitalization of $2.39 billion, a PE ratio of 14.76 and a beta of 1.12.
Steven Madden (NASDAQ:SHOO – Get Free Report) last issued its quarterly earnings results on Wednesday, August 2nd. The textile maker reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.01). The firm had revenue of $442.84 million for the quarter, compared to analyst estimates of $454.24 million. Steven Madden had a return on equity of 19.87% and a net margin of 8.50%. As a group, research analysts anticipate that Steven Madden, Ltd. will post 2.47 EPS for the current fiscal year.
Steven Madden Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, September 25th. Investors of record on Friday, September 15th were issued a $0.21 dividend. The ex-dividend date was Thursday, September 14th. This represents a $0.84 annualized dividend and a yield of 2.65%. Steven Madden’s dividend payout ratio (DPR) is presently 39.07%.
Steven Madden Company Profile
Steven Madden, Ltd. designs, sources, and markets fashion-forward branded and private label footwear, accessories, and apparel for women, men, and children in the United States and internationally. It operates through Wholesale Footwear, Wholesale Accessories/Apparel, Direct-to- Consumer, First Cost, and Licensing segments.
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