Eagle Asset Management Inc. grew its holdings in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 1.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 411,398 shares of the textile maker’s stock after purchasing an additional 3,972 shares during the period. Eagle Asset Management Inc. owned 0.50% of Steven Madden worth $18,002,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of SHOO. BlackRock Inc. increased its holdings in shares of Steven Madden by 3.7% in the 1st quarter. BlackRock Inc. now owns 12,446,465 shares of the textile maker’s stock worth $463,754,000 after acquiring an additional 447,529 shares during the period. Cramer Rosenthal Mcglynn LLC increased its stake in shares of Steven Madden by 6.8% in the first quarter. Cramer Rosenthal Mcglynn LLC now owns 2,067,126 shares of the textile maker’s stock valued at $77,021,000 after purchasing an additional 130,809 shares during the period. Janus Henderson Group PLC raised its holdings in shares of Steven Madden by 0.3% during the first quarter. Janus Henderson Group PLC now owns 1,928,063 shares of the textile maker’s stock valued at $71,840,000 after buying an additional 5,320 shares during the last quarter. Scopus Asset Management L.P. grew its holdings in Steven Madden by 120.0% in the 1st quarter. Scopus Asset Management L.P. now owns 1,650,000 shares of the textile maker’s stock worth $61,479,000 after buying an additional 900,000 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in Steven Madden by 7.1% in the 1st quarter. Geode Capital Management LLC now owns 1,359,799 shares of the textile maker’s stock valued at $50,666,000 after acquiring an additional 90,386 shares during the period. 93.05% of the stock is currently owned by institutional investors.
Several research analysts have recently issued reports on the company. B. Riley increased their price target on Steven Madden from $50.00 to $51.00 and gave the stock a “buy” rating in a research note on Thursday, July 29th. BTIG Research raised their target price on shares of Steven Madden from $57.00 to $59.00 and gave the company a “buy” rating in a research note on Friday, September 17th. Telsey Advisory Group boosted their price target on shares of Steven Madden from $45.00 to $47.00 and gave the stock a “market perform” rating in a research report on Thursday, July 29th. TheStreet upgraded shares of Steven Madden from a “c” rating to a “b-” rating in a research note on Wednesday, July 28th. Finally, Jefferies Financial Group upgraded Steven Madden from a “hold” rating to a “buy” rating and upped their target price for the stock from $44.00 to $50.00 in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Steven Madden currently has a consensus rating of “Buy” and a consensus target price of $43.30.
Steven Madden (NASDAQ:SHOO) last announced its earnings results on Wednesday, July 28th. The textile maker reported $0.48 EPS for the quarter, beating the consensus estimate of $0.31 by $0.17. Steven Madden had a return on equity of 15.30% and a net margin of 5.05%. The business had revenue of $397.89 million during the quarter, compared to the consensus estimate of $369.04 million. As a group, sell-side analysts expect that Steven Madden, Ltd. will post 2.08 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 27th. Stockholders of record on Friday, September 17th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.44%. The ex-dividend date is Thursday, September 16th. Steven Madden’s dividend payout ratio is 93.75%.
Steven Madden Company Profile
Steven Madden Ltd. engages in the design, marketing, and sale of fashion-forward footwear for women, men, and children. It operates through the following segments: Wholesale Footwear, Wholesale Accessories and Apparel, Retail, First Cost, and Licensing. The Wholesale Footwear segment includes branded and private label women’s, men’s, girl’s and children’s footwear.
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