Wealth Enhancement Advisory Services LLC Has $278,000 Holdings in Steven Madden, Ltd. (NASDAQ:SHOO)

Wealth Enhancement Advisory Services LLC decreased its position in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 7.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,669 shares of the textile maker’s stock after selling 440 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Steven Madden were worth $278,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Seven Eight Capital LP raised its position in Steven Madden by 902.5% in the 1st quarter. Seven Eight Capital LP now owns 49,265 shares of the textile maker’s stock valued at $2,083,000 after purchasing an additional 44,351 shares during the last quarter. Harbor Capital Advisors Inc. lifted its position in Steven Madden by 273.4% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 48,840 shares of the textile maker’s stock worth $2,066,000 after buying an additional 35,761 shares in the last quarter. Magnetar Financial LLC bought a new stake in Steven Madden during the 1st quarter worth about $876,000. Jane Street Group LLC increased its position in Steven Madden by 36.9% in the 1st quarter. Jane Street Group LLC now owns 183,423 shares of the textile maker’s stock valued at $7,755,000 after acquiring an additional 49,432 shares in the last quarter. Finally, Capital Research Global Investors raised its stake in shares of Steven Madden by 8.6% in the first quarter. Capital Research Global Investors now owns 1,856,001 shares of the textile maker’s stock worth $78,472,000 after acquiring an additional 146,324 shares during the last quarter. Institutional investors own 99.88% of the company’s stock.

Steven Madden Trading Up 0.4 %

Shares of SHOO opened at $44.83 on Tuesday. The stock has a market cap of $3.26 billion, a P/E ratio of 19.08 and a beta of 1.08. The stock’s 50-day moving average price is $46.41 and its two-hundred day moving average price is $44.25. Steven Madden, Ltd. has a 1 year low of $33.07 and a 1 year high of $50.01.

Steven Madden (NASDAQ:SHOO) last issued its quarterly earnings data on Thursday, November 7th. The textile maker reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.02. The firm had revenue of $624.68 million during the quarter, compared to analysts’ expectations of $607.89 million. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. The business’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.88 earnings per share. As a group, equities analysts forecast that Steven Madden, Ltd. will post 2.65 EPS for the current year.

Steven Madden Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend is Friday, December 13th. Steven Madden’s payout ratio is presently 35.74%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Telsey Advisory Group reissued a “market perform” rating and issued a $50.00 price target on shares of Steven Madden in a report on Thursday, November 7th. StockNews.com downgraded Steven Madden from a “buy” rating to a “hold” rating in a research report on Friday. Citigroup upped their price target on Steven Madden from $43.00 to $45.00 and gave the company a “neutral” rating in a research note on Friday. Piper Sandler reiterated a “neutral” rating and issued a $45.00 price objective on shares of Steven Madden in a research report on Friday, August 23rd. Finally, Wedbush restated a “neutral” rating and set a $41.00 target price on shares of Steven Madden in a research report on Wednesday, August 7th. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $45.43.

Steven Madden Profile

Steven Madden, Ltd. designs, sources, and markets fashion-forward branded and private label footwear, accessories, and apparel in the United States and internationally. It operates through Wholesale Footwear, Wholesale Accessories/Apparel, Direct-to- Consumer, and Licensing segments. The Wholesale Footwear segment designs, sources, and markets various products, including dress shoes, boots, booties, fashion sneakers, sandals, and casual shoes under the Steve Madden, Dolce Vita, Betsey Johnson, Blondo, GREATS, and Anne Klein brands.