William Blair Investment Management LLC Sells 56,375 Shares of Steven Madden, Ltd. $SHOO

William Blair Investment Management LLC lessened its holdings in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 7.7% in the second quarter, Holdings Channel.com reports. The fund owned 677,215 shares of the textile maker’s stock after selling 56,375 shares during the period. William Blair Investment Management LLC’s holdings in Steven Madden were worth $16,240,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SHOO. Caitong International Asset Management Co. Ltd raised its holdings in shares of Steven Madden by 328.8% during the first quarter. Caitong International Asset Management Co. Ltd now owns 2,161 shares of the textile maker’s stock valued at $58,000 after acquiring an additional 1,657 shares in the last quarter. Signaturefd LLC grew its stake in Steven Madden by 475.5% in the second quarter. Signaturefd LLC now owns 2,492 shares of the textile maker’s stock worth $60,000 after purchasing an additional 2,059 shares during the period. CWM LLC grew its stake in Steven Madden by 231.0% in the first quarter. CWM LLC now owns 2,277 shares of the textile maker’s stock worth $61,000 after purchasing an additional 1,589 shares during the period. Covestor Ltd grew its stake in Steven Madden by 22.9% in the first quarter. Covestor Ltd now owns 4,906 shares of the textile maker’s stock worth $130,000 after purchasing an additional 915 shares during the period. Finally, Gagnon Securities LLC purchased a new stake in Steven Madden in the first quarter worth $140,000. Institutional investors own 99.88% of the company’s stock.

Steven Madden Trading Up 0.0%

NASDAQ SHOO opened at $35.00 on Monday. Steven Madden, Ltd. has a 12 month low of $19.05 and a 12 month high of $48.88. The stock has a market cap of $2.54 billion, a P/E ratio of 27.56 and a beta of 1.22. The stock’s fifty day moving average price is $31.04 and its 200-day moving average price is $26.43. The company has a current ratio of 2.01, a quick ratio of 1.13 and a debt-to-equity ratio of 0.33.

Steven Madden (NASDAQ:SHOO) last released its earnings results on Wednesday, July 30th. The textile maker reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.04). Steven Madden had a return on equity of 18.32% and a net margin of 3.92%.The company had revenue of $556.09 million during the quarter, compared to analysts’ expectations of $575.83 million. During the same period in the prior year, the company posted $0.57 earnings per share. The company’s revenue was up 6.8% on a year-over-year basis. As a group, equities analysts forecast that Steven Madden, Ltd. will post 2.66 EPS for the current fiscal year.

Steven Madden Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 23rd. Investors of record on Friday, September 12th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, September 12th. This represents a $0.84 annualized dividend and a dividend yield of 2.4%. Steven Madden’s dividend payout ratio (DPR) is 66.14%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on SHOO shares. Citigroup reaffirmed a “buy” rating and issued a $41.00 price target (up from $32.00) on shares of Steven Madden in a research note on Friday. Wall Street Zen cut Steven Madden from a “hold” rating to a “sell” rating in a research note on Saturday, August 16th. BTIG Research upped their price target on Steven Madden from $34.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, October 9th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $26.00 price target (up from $24.00) on shares of Steven Madden in a research note on Wednesday, July 30th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Steven Madden in a research note on Wednesday, July 30th. Three analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $34.67.

Steven Madden Company Profile

Steven Madden, Ltd. designs, sources, and markets fashion-forward branded and private label footwear, accessories, and apparel in the United States and internationally. It operates through Wholesale Footwear, Wholesale Accessories/Apparel, Direct-to- Consumer, and Licensing segments. The Wholesale Footwear segment designs, sources, and markets various products, including dress shoes, boots, booties, fashion sneakers, sandals, and casual shoes under the Steve Madden, Dolce Vita, Betsey Johnson, Blondo, GREATS, and Anne Klein brands.