Northern Trust Corp Lowers Position in Steven Madden, Ltd. $SHOO

Northern Trust Corp lessened its stake in Steven Madden, Ltd. (NASDAQ:SHOO) by 3.5% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 781,818 shares of the textile maker’s stock after selling 28,445 shares during the quarter. Northern Trust Corp owned approximately 1.08% of Steven Madden worth $20,828,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. CX Institutional purchased a new stake in Steven Madden during the first quarter valued at $32,000. Caitong International Asset Management Co. Ltd raised its stake in Steven Madden by 328.8% during the first quarter. Caitong International Asset Management Co. Ltd now owns 2,161 shares of the textile maker’s stock valued at $58,000 after purchasing an additional 1,657 shares in the last quarter. CWM LLC raised its stake in Steven Madden by 231.0% during the first quarter. CWM LLC now owns 2,277 shares of the textile maker’s stock valued at $61,000 after purchasing an additional 1,589 shares in the last quarter. Mariner LLC raised its stake in Steven Madden by 7.2% during the fourth quarter. Mariner LLC now owns 4,740 shares of the textile maker’s stock valued at $202,000 after purchasing an additional 319 shares in the last quarter. Finally, Covestor Ltd raised its stake in Steven Madden by 22.9% during the first quarter. Covestor Ltd now owns 4,906 shares of the textile maker’s stock valued at $130,000 after purchasing an additional 915 shares in the last quarter. Hedge funds and other institutional investors own 99.88% of the company’s stock.

Steven Madden Trading Down 0.5%

Shares of SHOO opened at $29.04 on Tuesday. Steven Madden, Ltd. has a twelve month low of $19.05 and a twelve month high of $50.01. The company has a market cap of $2.11 billion, a P/E ratio of 22.87 and a beta of 1.21. The company has a current ratio of 2.01, a quick ratio of 1.13 and a debt-to-equity ratio of 0.33. The company’s fifty day simple moving average is $26.05 and its 200-day simple moving average is $25.80.

Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings results on Wednesday, July 30th. The textile maker reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.04). The company had revenue of $556.09 million during the quarter, compared to the consensus estimate of $575.83 million. Steven Madden had a return on equity of 18.32% and a net margin of 3.92%.The company’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.57 earnings per share. As a group, analysts expect that Steven Madden, Ltd. will post 2.66 EPS for the current year.

Steven Madden Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 23rd. Stockholders of record on Friday, September 12th will be issued a $0.21 dividend. The ex-dividend date is Friday, September 12th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.9%. Steven Madden’s dividend payout ratio is presently 66.14%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on SHOO shares. UBS Group upped their price target on shares of Steven Madden from $23.00 to $26.00 and gave the company a “neutral” rating in a research note on Monday, July 28th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $26.00 price target (up previously from $24.00) on shares of Steven Madden in a research note on Wednesday, July 30th. Citigroup raised shares of Steven Madden from a “neutral” rating to a “buy” rating and upped their price target for the company from $26.00 to $32.00 in a research note on Thursday, July 17th. Needham & Company LLC reaffirmed a “hold” rating on shares of Steven Madden in a research note on Wednesday, July 30th. Finally, Wall Street Zen downgraded shares of Steven Madden from a “hold” rating to a “sell” rating in a research note on Saturday, August 16th. One equities research analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Steven Madden presently has an average rating of “Hold” and an average target price of $28.80.

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.