Wells Fargo & Company MN raised its position in Steven Madden, Ltd. (NASDAQ:SHOO) by 386.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 698,957 shares of the textile maker’s stock after buying an additional 555,283 shares during the period. Wells Fargo & Company MN owned 1.27% of Steven Madden worth $27,924,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in SHOO. Great West Life Assurance Co. Can raised its stake in shares of Steven Madden by 5.1% in the first quarter. Great West Life Assurance Co. Can now owns 76,496 shares of the textile maker’s stock worth $2,944,000 after acquiring an additional 3,696 shares during the last quarter. State Board of Administration of Florida Retirement System raised its stake in shares of Steven Madden by 6.5% in the first quarter. State Board of Administration of Florida Retirement System now owns 53,063 shares of the textile maker’s stock worth $2,046,000 after acquiring an additional 3,243 shares during the last quarter. First Trust Advisors LP raised its stake in shares of Steven Madden by 31.3% in the first quarter. First Trust Advisors LP now owns 43,895 shares of the textile maker’s stock worth $1,692,000 after acquiring an additional 10,468 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Steven Madden by 6.5% in the first quarter. Bank of New York Mellon Corp now owns 753,863 shares of the textile maker’s stock worth $29,061,000 after acquiring an additional 45,928 shares during the last quarter. Finally, BNP Paribas Arbitrage SA raised its stake in shares of Steven Madden by 8.5% in the first quarter. BNP Paribas Arbitrage SA now owns 12,505 shares of the textile maker’s stock worth $482,000 after acquiring an additional 977 shares during the last quarter. 91.34% of the stock is owned by institutional investors.

Shares of Steven Madden, Ltd. (NASDAQ:SHOO) opened at 41.85 on Friday. 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 $2.48 billion, a P/E ratio of 20.15 and a beta of 0.51. The company’s 50 day moving average is $41.95 and its 200-day moving average is $39.28.

Steven Madden (NASDAQ:SHOO) last posted its earnings results on Tuesday, August 1st. The textile maker reported $0.51 EPS for the quarter, topping the consensus estimate of $0.45 by $0.06. Steven Madden had a net margin of 8.19% and a return on equity of 17.57%. The business had revenue of $374.15 million for the quarter, compared to the consensus estimate of $355.22 million. During the same period last year, the company earned $0.42 EPS. The firm’s revenue was up 15.0% compared to the same quarter last year. On average, equities research analysts forecast that Steven Madden, Ltd. will post $2.25 EPS for the current year.

A number of equities analysts have weighed in on the stock. B. Riley reaffirmed a “buy” rating and issued a $45.00 target price on shares of Steven Madden in a research note on Friday, July 28th. Zacks Investment Research raised shares of Steven Madden from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a research note on Tuesday, June 20th. Canaccord Genuity set a $45.00 target price on shares of Steven Madden and gave the stock a “buy” rating in a research note on Friday, May 26th. Piper Jaffray Companies set a $41.00 target price on shares of Steven Madden and gave the stock a “buy” rating in a research note on Wednesday, June 14th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $39.00 target price (up from $37.00) on shares of Steven Madden in a research note on Wednesday, August 2nd. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $44.04.

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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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Institutional Ownership by Quarter for Steven Madden (NASDAQ:SHOO)

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