Moran Wealth Management LLC trimmed its holdings in shares of Steven Madden, Ltd. (NASDAQ:SHOO – Free Report) by 2.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,801 shares of the textile maker’s stock after selling 575 shares during the period. Moran Wealth Management LLC’s holdings in Steven Madden were worth $1,019,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Blue Trust Inc. boosted its holdings in Steven Madden by 9,166.7% during the 2nd quarter. Blue Trust Inc. now owns 834 shares of the textile maker’s stock valued at $35,000 after acquiring an additional 825 shares during the period. Gladius Capital Management LP bought a new position in shares of Steven Madden in the third quarter worth approximately $36,000. Exchange Traded Concepts LLC purchased a new position in shares of Steven Madden in the third quarter worth $59,000. GAMMA Investing LLC raised its holdings in Steven Madden by 80.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,329 shares of the textile maker’s stock valued at $65,000 after buying an additional 593 shares during the last quarter. Finally, EntryPoint Capital LLC bought a new stake in Steven Madden in the 1st quarter worth $81,000. 99.88% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several equities analysts have recently commented on SHOO shares. StockNews.com raised shares of Steven Madden from a “hold” rating to a “buy” rating in a research note on Saturday, November 16th. Wedbush reiterated a “neutral” rating and issued a $41.00 price objective on shares of Steven Madden in a research report on Wednesday, August 7th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $50.00 price target on shares of Steven Madden in a research note on Wednesday, November 13th. Citigroup boosted their price objective on shares of Steven Madden from $43.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $45.00 target price on shares of Steven Madden in a research report on Friday, August 23rd. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $45.43.
Steven Madden Price Performance
Shares of Steven Madden stock opened at $42.90 on Friday. Steven Madden, Ltd. has a 1 year low of $36.56 and a 1 year high of $50.01. The firm has a market cap of $3.10 billion, a price-to-earnings ratio of 18.26 and a beta of 1.08. The company has a 50-day moving average of $46.33 and a 200 day moving average of $44.37.
Steven Madden (NASDAQ:SHOO – Get Free Report) last released its earnings results on Thursday, November 7th. The textile maker reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.02. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. The firm had revenue of $624.68 million during the quarter, compared to analyst estimates of $607.89 million. During the same period last year, the business earned $0.88 earnings per share. The business’s revenue was up 13.0% on a year-over-year basis. On average, equities analysts anticipate that Steven Madden, Ltd. will post 2.65 EPS for the current year.
Steven Madden Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend is Friday, December 13th. Steven Madden’s dividend payout ratio (DPR) is 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.
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