Vanguard Group Inc. reduced its position in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 0.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,789,635 shares of the textile maker’s stock after selling 19,994 shares during the period. Vanguard Group Inc. owned about 8.68% of Steven Madden worth $191,345,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Amalgamated Bank lifted its position in shares of Steven Madden by 0.4% during the second quarter. Amalgamated Bank now owns 8,107 shares of the textile maker’s stock worth $324,000 after purchasing an additional 32 shares in the last quarter. Jennison Associates LLC raised its holdings in Steven Madden by 0.4% in the second quarter. Jennison Associates LLC now owns 11,834 shares of the textile maker’s stock valued at $473,000 after acquiring an additional 44 shares in the last quarter. First Mercantile Trust Co. raised its holdings in 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 acquiring an additional 60 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in Steven Madden by 1.0% in the second quarter. PNC Financial Services Group Inc. now owns 19,118 shares of the textile maker’s stock valued at $763,000 after acquiring an additional 189 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System raised its holdings in Steven Madden by 0.4% in the second quarter. State Board of Administration of Florida Retirement System now owns 53,280 shares of the textile maker’s stock valued at $2,129,000 after acquiring an additional 217 shares in the last quarter. 91.32% of the stock is currently owned by institutional investors and hedge funds.

Several analysts recently issued reports on SHOO shares. Zacks Investment Research cut shares of Steven Madden from a “buy” rating to a “hold” rating in a report on Wednesday, September 20th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $44.00 price target on shares of Steven Madden in a report on Wednesday, July 26th. Canaccord Genuity set a $47.00 price target on shares of Steven Madden and gave the company a “buy” rating in a report on Tuesday, August 15th. Telsey Advisory Group upped their price target on shares of Steven Madden from $41.00 to $45.00 and gave the company an “outperform” rating in a report on Wednesday, August 2nd. Finally, B. Riley reaffirmed a “buy” rating and issued a $45.00 price target on shares of Steven Madden in a report on Friday, July 28th. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Steven Madden presently has an average rating of “Buy” and an average target price of $43.96.

ILLEGAL ACTIVITY NOTICE: “Vanguard Group Inc. Sells 19,994 Shares of Steven Madden, Ltd. (SHOO)” was originally reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this piece on another domain, it was illegally stolen and reposted in violation of U.S. & international copyright and trademark legislation. The original version of this piece can be read at https://www.thecerbatgem.com/2017/10/17/vanguard-group-inc-sells-19994-shares-of-steven-madden-ltd-shoo.html.

Shares of Steven Madden, Ltd. (NASDAQ:SHOO) opened at 41.00 on Tuesday. Steven Madden, Ltd. has a one year low of $32.30 and a one year high of $43.80. The firm has a market capitalization of $2.43 billion, a PE ratio of 19.74 and a beta of 0.51. The firm’s 50 day moving average is $42.21 and its 200-day moving average is $39.85.

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

Steven Madden Profile

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.

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

Receive News & Stock Ratings for Steven Madden Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Steven Madden Ltd. and related stocks with our FREE daily email newsletter.