First Trust Advisors LP lifted its holdings in shares of Steven Madden, Ltd. (NASDAQ:SHOO – Get Rating) by 12.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 488,783 shares of the textile maker’s stock after purchasing an additional 54,001 shares during the period. First Trust Advisors LP owned 0.63% of Steven Madden worth $13,036,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Renaissance Technologies LLC boosted its position in shares of Steven Madden by 232.1% during the 2nd quarter. Renaissance Technologies LLC now owns 949,678 shares of the textile maker’s stock valued at $30,589,000 after purchasing an additional 663,711 shares in the last quarter. Jennison Associates LLC bought a new stake in shares of Steven Madden during the 3rd quarter valued at about $827,000. Duality Advisers LP bought a new stake in shares of Steven Madden during the 2nd quarter valued at about $859,000. Bridgewater Associates LP bought a new position in Steven Madden in the second quarter worth approximately $4,713,000. Finally, Segall Bryant & Hamill LLC boosted its holdings in Steven Madden by 8.8% in the third quarter. Segall Bryant & Hamill LLC now owns 159,663 shares of the textile maker’s stock worth $4,259,000 after acquiring an additional 12,964 shares in the last quarter. Institutional investors own 95.30% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research analysts have issued reports on the company. UBS Group increased their price target on Steven Madden from $32.00 to $33.00 and gave the stock a “neutral” rating in a report on Thursday, February 16th. Telsey Advisory Group reiterated a “market perform” rating and issued a $34.00 price target on shares of Steven Madden in a report on Thursday, February 23rd. Citigroup increased their price target on Steven Madden from $37.00 to $40.00 and gave the stock a “neutral” rating in a report on Friday, February 24th. Finally, Loop Capital increased their price objective on Steven Madden from $30.00 to $32.00 and gave the stock a “hold” rating in a research note on Tuesday, February 14th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Steven Madden has a consensus rating of “Hold” and a consensus target price of $39.57.
Steven Madden Trading Down 1.0 %
Steven Madden (NASDAQ:SHOO – Get Rating) last issued its quarterly earnings results on Thursday, February 23rd. The textile maker reported $0.44 EPS for the quarter, meeting analysts’ consensus estimates of $0.44. Steven Madden had a return on equity of 25.81% and a net margin of 10.18%. The company had revenue of $470.60 million during the quarter, compared to the consensus estimate of $456.88 million. During the same period last year, the business posted $0.87 earnings per share. Steven Madden’s revenue was down 18.7% on a year-over-year basis. As a group, equities research analysts predict that Steven Madden, Ltd. will post 2.48 earnings per share for the current year.
Steven Madden Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 24th. Shareholders of record on Friday, March 10th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 2.44%. The ex-dividend date of this dividend is Thursday, March 9th. Steven Madden’s dividend payout ratio (DPR) is 30.33%.
Steven Madden 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, Direct-to-Consumer, 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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