Bank of Montreal Can Buys New Position in Steven Madden, Ltd. (NASDAQ:SHOO)

Bank of Montreal Can bought a new stake in shares of Steven Madden, Ltd. (NASDAQ:SHOO) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 16,225 shares of the textile maker’s stock, valued at approximately $554,000.

Other large investors have also added to or reduced their stakes in the company. Belpointe Asset Management LLC grew its stake in Steven Madden by 83.9% during the 1st quarter. Belpointe Asset Management LLC now owns 997 shares of the textile maker’s stock valued at $36,000 after purchasing an additional 455 shares during the last quarter. Industrial Alliance Investment Management Inc. grew its stake in Steven Madden by 312.3% during the 4th quarter. Industrial Alliance Investment Management Inc. now owns 1,542 shares of the textile maker’s stock valued at $49,000 after purchasing an additional 1,168 shares during the last quarter. Dark Forest Capital Management LP purchased a new stake in Steven Madden during the 1st quarter valued at about $56,000. Bessemer Group Inc. purchased a new stake in Steven Madden during the 1st quarter valued at about $79,000. Finally, Gladius Capital Management LP grew its stake in Steven Madden by 14.6% during the 1st quarter. Gladius Capital Management LP now owns 2,471 shares of the textile maker’s stock valued at $89,000 after purchasing an additional 314 shares during the last quarter. Hedge funds and other institutional investors own 99.88% of the company’s stock.

Steven Madden Price Performance

Steven Madden stock opened at $35.96 on Friday. The stock has a market capitalization of $2.68 billion, a PE ratio of 16.13 and a beta of 1.09. Steven Madden, Ltd. has a 12 month low of $29.92 and a 12 month high of $37.85. The business has a 50 day simple moving average of $32.65 and a 200-day simple moving average of $33.02.

Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings data on Wednesday, November 8th. The textile maker reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.01. The business had revenue of $552.73 million during the quarter, compared to analysts’ expectations of $548.98 million. Steven Madden had a return on equity of 20.30% and a net margin of 8.68%. The business’s revenue was down .7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.79 earnings per share. On average, equities research analysts anticipate that Steven Madden, Ltd. will post 2.4 EPS for the current fiscal year.

Steven Madden Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date of this dividend is Thursday, December 14th. Steven Madden’s dividend payout ratio (DPR) is presently 37.67%.

Analyst Ratings Changes

Several analysts have weighed in on SHOO shares. Citigroup boosted their price target on Steven Madden from $40.00 to $41.00 and gave the company a “buy” rating in a research note on Thursday, August 3rd. StockNews.com cut Steven Madden from a “buy” rating to a “hold” rating in a research report on Saturday, September 30th. UBS Group lifted their price target on Steven Madden from $35.00 to $37.00 in a research report on Thursday, August 3rd. BTIG Research reiterated a “buy” rating and set a $40.00 price target on shares of Steven Madden in a research report on Tuesday, September 19th. Finally, Telsey Advisory Group reiterated a “market perform” rating and set a $39.00 price target on shares of Steven Madden in a research report on Wednesday. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $37.80.

Steven Madden 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.