Steven Madden, Ltd. (NASDAQ:SHOO) Stock Position Decreased by Eagle Asset Management Inc.

Eagle Asset Management Inc. cut its stake in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 24.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 209,218 shares of the textile maker’s stock after selling 67,908 shares during the period. Eagle Asset Management Inc.’s holdings in Steven Madden were worth $9,337,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of SHOO. Harbor Capital Advisors Inc. increased its stake in Steven Madden by 273.4% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 48,840 shares of the textile maker’s stock worth $2,066,000 after purchasing an additional 35,761 shares in the last quarter. Jane Street Group LLC boosted its holdings in shares of Steven Madden by 36.9% in the first quarter. Jane Street Group LLC now owns 183,423 shares of the textile maker’s stock worth $7,755,000 after buying an additional 49,432 shares during the period. Nicholas Investment Partners LP acquired a new position in shares of Steven Madden in the second quarter worth about $4,863,000. Landscape Capital Management L.L.C. purchased a new position in shares of Steven Madden in the third quarter worth approximately $2,614,000. Finally, Vest Financial LLC acquired a new stake in shares of Steven Madden during the second quarter valued at approximately $1,074,000. 99.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on SHOO shares. Piper Sandler reaffirmed a “neutral” rating and issued a $45.00 price objective on shares of Steven Madden in a research note on Friday, August 23rd. Needham & Company LLC began coverage on Steven Madden in a research report on Friday. They issued a “hold” rating for the company. Citigroup upped their price target on Steven Madden from $43.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Telsey Advisory Group restated a “market perform” rating and set a $50.00 price objective on shares of Steven Madden in a research report on Wednesday, November 13th. Finally, StockNews.com cut Steven Madden from a “buy” rating to a “hold” rating in a research note on Sunday. Eight analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $45.43.

Steven Madden Price Performance

Shares of NASDAQ SHOO opened at $43.40 on Friday. Steven Madden, Ltd. has a one year low of $36.56 and a one year high of $50.01. The business’s 50-day moving average price is $46.29 and its two-hundred day moving average price is $44.42. The company has a market capitalization of $3.13 billion, a P/E ratio of 18.47 and a beta of 1.08.

Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings results on Thursday, November 7th. The textile maker reported $0.91 EPS for the quarter, beating the consensus estimate of $0.89 by $0.02. The business had revenue of $624.68 million during the quarter, compared to analysts’ expectations of $607.89 million. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. The firm’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.88 EPS. On average, equities analysts anticipate that Steven Madden, Ltd. will post 2.65 EPS for the current year.

Steven Madden Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.94%. Steven Madden’s dividend payout ratio is currently 35.74%.

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.