Jennison Associates LLC Has $473,000 Position in Steven Madden, Ltd. (SHOO)
Jennison Associates LLC boosted its stake in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 0.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,834 shares of the textile maker’s stock after buying an additional 44 shares during the period. Jennison Associates LLC’s holdings in Steven Madden were worth $473,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently modified their holdings of SHOO. Elkfork Partners LLC increased its position in shares of Steven Madden by 17.5% in the first quarter. Elkfork Partners LLC now owns 2,662 shares of the textile maker’s stock valued at $103,000 after buying an additional 396 shares during the last quarter. TrimTabs Asset Management LLC increased its position in shares of Steven Madden by 89.1% in the first quarter. TrimTabs Asset Management LLC now owns 3,023 shares of the textile maker’s stock valued at $117,000 after buying an additional 1,424 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in shares of Steven Madden during the second quarter valued at approximately $127,000. Meadow Creek Investment Management LLC increased its position in shares of Steven Madden by 17.5% in the first quarter. Meadow Creek Investment Management LLC now owns 3,388 shares of the textile maker’s stock valued at $131,000 after buying an additional 504 shares during the last quarter. Finally, First Mercantile Trust Co. increased its position in shares of Steven Madden by 1.7% in the second quarter. First Mercantile Trust Co. now owns 3,570 shares of the textile maker’s stock valued at $143,000 after buying an additional 60 shares during the last quarter. Institutional investors own 91.37% of the company’s stock.
Steven Madden, Ltd. (NASDAQ SHOO) opened at 41.80 on Thursday. Steven Madden, Ltd. has a 1-year low of $32.30 and a 1-year high of $43.80. The company has a market capitalization of $2.47 billion, a P/E ratio of 20.13 and a beta of 0.53. The stock’s 50 day moving average is $40.81 and its 200-day moving average is $38.60.
Steven Madden (NASDAQ:SHOO) last released its quarterly earnings data on Tuesday, August 1st. The textile maker reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.06. The firm had revenue of $374.15 million during the quarter, compared to the consensus estimate of $355.22 million. Steven Madden had a net margin of 8.19% and a return on equity of 17.57%. The firm’s revenue was up 15.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.42 earnings per share. On average, analysts expect that Steven Madden, Ltd. will post $2.25 earnings per share for the current fiscal year.
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Several brokerages recently commented on SHOO. Telsey Advisory Group reiterated an “outperform” rating and set a $45.00 price target (up from $41.00) on shares of Steven Madden in a report on Tuesday, August 8th. Zacks Investment Research upgraded shares of Steven Madden from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a report on Friday, August 18th. B. Riley reiterated a “buy” rating and set a $47.00 price target on shares of Steven Madden in a report on Tuesday, August 8th. Morgan Stanley upped their price target on shares of Steven Madden from $37.00 to $38.00 and gave the company an “equal weight” rating in a report on Tuesday, June 6th. Finally, BidaskClub downgraded shares of Steven Madden from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Steven Madden currently has an average rating of “Buy” and a consensus price target of $43.79.
In other Steven Madden news, insider Karla Frieders sold 5,000 shares of the firm’s stock in a transaction on Monday, June 19th. The stock was sold at an average price of $38.61, for a total value of $193,050.00. Following the sale, the insider now directly owns 83,216 shares in the company, valued at $3,212,969.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Rose Peabody Lynch sold 2,240 shares of the firm’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $39.32, for a total value of $88,076.80. Following the completion of the sale, the director now owns 4,754 shares in the company, valued at $186,927.28. The disclosure for this sale can be found here. Insiders sold 62,740 shares of company stock worth $2,493,277 over the last quarter. 2.06% of the stock is currently owned by company insiders.
About Steven Madden
Steven Madden, Ltd. and its subsidiaries design, source, market and sell name brand and private label footwear for women, men and children, and name brand and private label fashion handbags and accessories. The Company operates through five segments: Wholesale Footwear, Wholesale Accessories, Retail, First Cost and Licensing.
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