Bank of New York Mellon Corp trimmed its holdings in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 6.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 679,559 shares of the textile maker’s stock after selling 50,684 shares during the quarter. Bank of New York Mellon Corp owned 1.14% of Steven Madden worth $29,425,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the stock. Riverhead Capital Management LLC lifted its position in Steven Madden by 97.1% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,562 shares of the textile maker’s stock worth $102,000 after acquiring an additional 1,262 shares during the period. First Mercantile Trust Co. lifted its position in Steven Madden by 1.7% during the 2nd quarter. First Mercantile Trust Co. now owns 3,570 shares of the textile maker’s stock worth $143,000 after acquiring an additional 60 shares during the period. Fortaleza Asset Management Inc. acquired a new stake in Steven Madden during the 3rd quarter worth about $158,000. IFP Advisors Inc lifted its position in Steven Madden by 3,804.2% during the 2nd quarter. IFP Advisors Inc now owns 4,607 shares of the textile maker’s stock worth $184,000 after acquiring an additional 4,489 shares during the period. Finally, First Quadrant L P CA acquired a new stake in Steven Madden during the 3rd quarter worth about $191,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

A number of brokerages have commented on SHOO. Wedbush began coverage on Steven Madden in a research report on Monday, August 14th. They set an “outperform” rating and a $48.00 price target for the company. ValuEngine cut Steven Madden from a “buy” rating to a “hold” rating in a research report on Thursday, October 5th. Canaccord Genuity set a $47.00 price target on Steven Madden and gave the stock a “buy” rating in a research report on Thursday, November 30th. Zacks Investment Research raised Steven Madden from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a research report on Thursday, September 28th. Finally, Piper Jaffray Companies set a $43.00 price target on Steven Madden and gave the stock a “buy” rating in a research report on Tuesday, October 31st. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company’s stock. Steven Madden has a consensus rating of “Buy” and a consensus price target of $45.41.

Steven Madden, Ltd. (NASDAQ SHOO) opened at $44.10 on Monday. The stock has a market capitalization of $2,606.44, a PE ratio of 19.69, a PEG ratio of 1.66 and a beta of 0.52. Steven Madden, Ltd. has a fifty-two week low of $33.50 and a fifty-two week high of $44.90.

Steven Madden (NASDAQ:SHOO) last issued its quarterly earnings data on Tuesday, October 31st. The textile maker reported $0.77 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.77. The business had revenue of $441.19 million during the quarter, compared to analysts’ expectations of $441.03 million. Steven Madden had a return on equity of 17.21% and a net margin of 8.04%. The company’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.74 EPS. research analysts anticipate that Steven Madden, Ltd. will post 2.21 earnings per share for the current year.

In other news, President Amelia Varela sold 25,000 shares of the business’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $42.78, for a total value of $1,069,500.00. Following the completion of the transaction, the president now owns 113,007 shares of the company’s stock, valued at approximately $4,834,439.46. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Richard P. Randall sold 2,000 shares of the business’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $38.05, for a total value of $76,100.00. Following the completion of the transaction, the director now directly owns 22,809 shares of the company’s stock, valued at approximately $867,882.45. The disclosure for this sale can be found here. In the last three months, insiders sold 27,500 shares of company stock valued at $1,167,405. Insiders own 2.06% of the company’s stock.

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Steven Madden Company 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)

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