KLP Kapitalforvaltning AS Has $829,000 Stock Holdings in Steven Madden, Ltd. $SHOO

KLP Kapitalforvaltning AS raised its stake in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 15.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 34,550 shares of the textile maker’s stock after purchasing an additional 4,500 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Steven Madden were worth $829,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in SHOO. Nuveen LLC acquired a new stake in Steven Madden during the first quarter valued at approximately $23,334,000. Millennium Management LLC boosted its holdings in Steven Madden by 1,170.4% during the first quarter. Millennium Management LLC now owns 617,049 shares of the textile maker’s stock valued at $16,438,000 after purchasing an additional 568,477 shares in the last quarter. Federated Hermes Inc. boosted its holdings in Steven Madden by 270,516.2% during the first quarter. Federated Hermes Inc. now owns 533,114 shares of the textile maker’s stock valued at $14,202,000 after purchasing an additional 532,917 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Steven Madden by 46.5% during the first quarter. Victory Capital Management Inc. now owns 1,212,373 shares of the textile maker’s stock valued at $32,298,000 after purchasing an additional 384,979 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Steven Madden by 29.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,455,381 shares of the textile maker’s stock valued at $39,907,000 after purchasing an additional 332,689 shares in the last quarter. 99.88% of the stock is owned by institutional investors and hedge funds.

Steven Madden Stock Down 1.0%

Shares of SHOO opened at $34.99 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.01 and a quick ratio of 1.13. The business’s 50 day simple moving average is $30.84 and its 200-day simple moving average is $26.37. Steven Madden, Ltd. has a one year low of $19.05 and a one year high of $49.08. The company has a market capitalization of $2.54 billion, a P/E ratio of 27.55 and a beta of 1.22.

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

Steven Madden Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 23rd. Investors of record on Friday, September 12th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.4%. The ex-dividend date was Friday, September 12th. Steven Madden’s payout ratio is 66.14%.

Analyst Ratings Changes

A number of research firms have weighed in on SHOO. Telsey Advisory Group reaffirmed a “market perform” rating and set a $26.00 price objective (up from $24.00) on shares of Steven Madden in a report on Wednesday, July 30th. Piper Sandler raised Steven Madden from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $25.00 to $40.00 in a report on Monday, September 22nd. BTIG Research boosted their target price on Steven Madden from $34.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, October 9th. Needham & Company LLC reissued a “hold” rating on shares of Steven Madden in a report on Wednesday, July 30th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Steven Madden in a report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $33.17.

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.