Steven Madden, Ltd. (NASDAQ:SHOO) Stock Position Reduced by SG Americas Securities LLC

SG Americas Securities LLC trimmed its position in Steven Madden, Ltd. (NASDAQ:SHOO) by 84.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,240 shares of the textile maker’s stock after selling 17,818 shares during the quarter. SG Americas Securities LLC’s holdings in Steven Madden were worth $159,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Goldman Sachs Group Inc. boosted its holdings in Steven Madden by 19.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 463,515 shares of the textile maker’s stock worth $19,468,000 after purchasing an additional 75,034 shares during the period. PNC Financial Services Group Inc. lifted its position in shares of Steven Madden by 6.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 13,185 shares of the textile maker’s stock worth $554,000 after buying an additional 761 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Steven Madden by 0.5% in the 1st quarter. Principal Financial Group Inc. now owns 387,205 shares of the textile maker’s stock valued at $16,371,000 after buying an additional 1,923 shares during the period. Fidelis Capital Partners LLC bought a new stake in shares of Steven Madden during the 1st quarter valued at about $47,000. Finally, Central Pacific Bank Trust Division acquired a new stake in Steven Madden during the first quarter worth about $170,000. 99.88% of the stock is owned by institutional investors and hedge funds.

Steven Madden Price Performance

SHOO opened at $45.43 on Friday. The stock’s 50 day moving average price is $46.27 and its 200 day moving average price is $43.73. The stock has a market cap of $3.30 billion, a P/E ratio of 18.54 and a beta of 1.08. Steven Madden, Ltd. has a 12 month low of $31.56 and a 12 month high of $50.01.

Steven Madden (NASDAQ:SHOO) last issued its quarterly earnings results on Wednesday, July 31st. The textile maker reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.06. The company had revenue of $523.60 million for the quarter, compared to analyst estimates of $515.15 million. Steven Madden had a return on equity of 23.49% and a net margin of 8.36%. The company’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same period last year, the company earned $0.47 earnings per share. Equities analysts anticipate that Steven Madden, Ltd. will post 2.62 EPS for the current year.

Steven Madden Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Friday, September 13th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date was Friday, September 13th. Steven Madden’s dividend payout ratio is currently 34.29%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. StockNews.com upgraded Steven Madden from a “hold” rating to a “buy” rating in a research note on Wednesday, September 18th. Telsey Advisory Group restated a “market perform” rating and set a $44.00 price objective on shares of Steven Madden in a research report on Wednesday, July 31st. Wedbush reaffirmed a “neutral” rating and issued a $41.00 target price on shares of Steven Madden in a research report on Wednesday, August 7th. Finally, Piper Sandler reissued a “neutral” rating and set a $45.00 price target on shares of Steven Madden in a report on Friday, August 23rd. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $44.29.

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.