GAMMA Investing LLC Increases Stock Position in Steven Madden, Ltd. (NASDAQ:SHOO)

GAMMA Investing LLC lifted its stake in Steven Madden, Ltd. (NASDAQ:SHOO) by 3,814.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,683 shares of the textile maker’s stock after purchasing an additional 35,746 shares during the quarter. GAMMA Investing LLC owned 0.05% of Steven Madden worth $977,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of SHOO. New York State Teachers Retirement System grew its stake in shares of Steven Madden by 0.8% during the 4th quarter. New York State Teachers Retirement System now owns 79,672 shares of the textile maker’s stock valued at $3,388,000 after purchasing an additional 652 shares during the period. Rhumbline Advisers raised its holdings in shares of Steven Madden by 1.8% during the 4th quarter. Rhumbline Advisers now owns 203,223 shares of the textile maker’s stock worth $8,641,000 after acquiring an additional 3,670 shares in the last quarter. State of New Jersey Common Pension Fund D raised its holdings in Steven Madden by 12.4% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 49,357 shares of the textile maker’s stock valued at $2,099,000 after buying an additional 5,434 shares during the period. Principal Financial Group Inc. raised its holdings in Steven Madden by 3.1% during the 4th quarter. Principal Financial Group Inc. now owns 381,196 shares of the textile maker’s stock valued at $16,208,000 after buying an additional 11,602 shares during the period. Finally, Handelsbanken Fonder AB grew its position in Steven Madden by 11.7% in the 4th quarter. Handelsbanken Fonder AB now owns 22,003 shares of the textile maker’s stock valued at $936,000 after acquiring an additional 2,300 shares during the last quarter. 99.88% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

SHOO has been the subject of a number of analyst reports. Piper Sandler decreased their price objective on Steven Madden from $35.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Needham & Company LLC reissued a “hold” rating on shares of Steven Madden in a report on Friday, May 2nd. Citigroup reduced their price objective on Steven Madden from $35.00 to $23.00 and set a “neutral” rating on the stock in a research report on Thursday, May 1st. Loop Capital dropped their price objective on Steven Madden from $40.00 to $35.00 and set a “hold” rating for the company in a research note on Thursday, February 27th. Finally, UBS Group boosted their target price on Steven Madden from $22.00 to $23.00 and gave the stock a “neutral” rating in a research note on Thursday, May 8th. Nine equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $28.50.

Steven Madden Stock Up 5.3%

Shares of NASDAQ SHOO opened at $24.23 on Tuesday. The business has a 50-day moving average price of $23.25 and a 200 day moving average price of $31.90. The stock has a market cap of $1.76 billion, a PE ratio of 10.31 and a beta of 1.12. Steven Madden, Ltd. has a 52-week low of $19.05 and a 52-week high of $50.01.

Steven Madden (NASDAQ:SHOO) last issued its earnings results on Wednesday, May 7th. The textile maker reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.14. The business had revenue of $551.38 million during the quarter, compared to the consensus estimate of $557.81 million. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. The company’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the prior year, the business posted $0.65 EPS. Sell-side analysts anticipate that Steven Madden, Ltd. will post 2.66 earnings per share for the current year.

Steven Madden Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Monday, June 9th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date of this dividend is Monday, June 9th. Steven Madden’s dividend payout ratio (DPR) is presently 36.21%.

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.