Leeward Investments LLC MA Takes $9.24 Million Position in Steven Madden, Ltd. (NASDAQ:SHOO)

Leeward Investments LLC MA acquired a new stake in shares of Steven Madden, Ltd. (NASDAQ:SHOO – Get Rating) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 239,235 shares of the textile maker’s stock, valued at approximately $9,244,000. Leeward Investments LLC MA owned approximately 0.30% of Steven Madden as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in SHOO. Marshall Wace LLP grew its position in shares of Steven Madden by 158.9% during the fourth quarter. Marshall Wace LLP now owns 1,215,572 shares of the textile maker’s stock valued at $56,492,000 after purchasing an additional 746,096 shares in the last quarter. Millennium Management LLC grew its position in shares of Steven Madden by 104.5% during the fourth quarter. Millennium Management LLC now owns 1,096,226 shares of the textile maker’s stock valued at $50,942,000 after purchasing an additional 560,148 shares in the last quarter. Ranger Investment Management L.P. purchased a new position in Steven Madden in the fourth quarter worth about $17,214,000. Assenagon Asset Management S.A. grew its position in Steven Madden by 1,389.5% in the first quarter. Assenagon Asset Management S.A. now owns 352,316 shares of the textile maker’s stock worth $13,613,000 after acquiring an additional 328,663 shares in the last quarter. Finally, Nuveen Asset Management LLC grew its position in Steven Madden by 15.4% in the fourth quarter. Nuveen Asset Management LLC now owns 1,442,956 shares of the textile maker’s stock worth $67,054,000 after acquiring an additional 192,403 shares in the last quarter. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Insider Activity

In other news, Director Robert Garrett Smith sold 2,222 shares of the business’s stock in a transaction on Wednesday, June 8th. The shares were sold at an average price of $38.96, for a total transaction of $86,569.12. Following the sale, the director now directly owns 8,500 shares of the company’s stock, valued at $331,160. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.98% of the company’s stock.

Steven Madden Stock Up 1.3 %

Shares of NASDAQ:SHOO opened at $32.57 on Friday. The company has a market capitalization of $2.57 billion, a price-to-earnings ratio of 10.21 and a beta of 1.07. Steven Madden, Ltd. has a 52 week low of $31.06 and a 52 week high of $51.56. The firm has a 50 day moving average of $34.15 and a 200 day moving average of $38.06.

Steven Madden (NASDAQ:SHOO – Get Rating) last released its quarterly earnings results on Wednesday, July 27th. The textile maker reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.06. Steven Madden had a net margin of 11.61% and a return on equity of 31.40%. The business had revenue of $532.68 million for the quarter, compared to analyst estimates of $491.80 million. During the same period in the previous year, the company earned $0.48 earnings per share. The business’s revenue for the quarter was up 34.9% on a year-over-year basis. On average, sell-side analysts expect that Steven Madden, Ltd. will post 2.97 EPS for the current year.

Steven Madden Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 26th. Stockholders of record on Friday, September 16th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date of this dividend is Thursday, September 15th. Steven Madden’s dividend payout ratio (DPR) is presently 26.33%.

Wall Street Analyst Weigh In

SHOO has been the subject of several recent research reports. StockNews.com lowered Steven Madden from a “buy” rating to a “hold” rating in a research report on Thursday, July 28th. Loop Capital dropped their price target on Steven Madden from $55.00 to $45.00 and set a “buy” rating for the company in a research report on Wednesday, June 8th. BTIG Research dropped their price target on Steven Madden from $72.00 to $60.00 and set a “buy” rating for the company in a research report on Thursday, July 21st. Wedbush dropped their price target on Steven Madden from $55.00 to $46.00 and set an “outperform” rating for the company in a research report on Thursday, June 9th. Finally, Telsey Advisory Group dropped their price target on Steven Madden from $52.00 to $38.00 and set a “market perform” rating for the company in a research report on Thursday, July 28th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.00.

Steven Madden Company Profile

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Steven Madden, Ltd. designs, sources, markets, and sells fashion-forward branded and private label footwear, accessories, and apparel for women, men, and children in the United States and internationally. Its Wholesale Footwear segment provides footwear under the Steve Madden, Steven by Steve Madden, Madden Girl, BB Dakota, Dolce Vita, DV Dolce Vita, Betsey Johnson, GREATS, Blondo, Anne Klein, Mad Love, Superga, Madden NYC, and COOL Planet brands, as well as private label footwear.