Steven Madden, Ltd. $SHOO Shares Sold by Smartleaf Asset Management LLC

Smartleaf Asset Management LLC reduced its stake in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 10.9% during the 1st quarter, HoldingsChannel reports. The firm owned 3,717 shares of the textile maker’s stock after selling 454 shares during the quarter. Smartleaf Asset Management LLC’s holdings in Steven Madden were worth $99,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in SHOO. Nuveen LLC acquired a new position in shares of Steven Madden during the 1st quarter worth approximately $23,334,000. Federated Hermes Inc. boosted its holdings in shares of Steven Madden by 270,516.2% during the 1st quarter. Federated Hermes Inc. now owns 533,114 shares of the textile maker’s stock worth $14,202,000 after purchasing an additional 532,917 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Steven Madden by 46.5% during the 1st quarter. Victory Capital Management Inc. now owns 1,212,373 shares of the textile maker’s stock worth $32,298,000 after purchasing an additional 384,979 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Steven Madden by 29.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,455,381 shares of the textile maker’s stock worth $39,907,000 after purchasing an additional 332,689 shares during the last quarter. Finally, Citigroup Inc. boosted its holdings in shares of Steven Madden by 243.7% during the 1st quarter. Citigroup Inc. now owns 356,257 shares of the textile maker’s stock worth $9,491,000 after purchasing an additional 252,592 shares during the last quarter. 99.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SHOO. UBS Group lifted their price target on shares of Steven Madden from $23.00 to $26.00 and gave the company a “neutral” rating in a research report on Monday, July 28th. Citigroup raised shares of Steven Madden from a “neutral” rating to a “buy” rating and lifted their price target for the company from $26.00 to $32.00 in a research report on Thursday, July 17th. Needham & Company LLC reaffirmed a “hold” rating on shares of Steven Madden in a research report on Wednesday, July 30th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $26.00 price target (up previously from $24.00) on shares of Steven Madden in a research report on Wednesday, July 30th. Finally, Wall Street Zen lowered shares of Steven Madden from a “hold” rating to a “sell” rating in a research report on Saturday, August 16th. One investment analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $28.80.

Steven Madden Stock Down 0.7%

Shares of NASDAQ SHOO opened at $29.18 on Friday. The firm has a market cap of $2.12 billion, a price-to-earnings ratio of 22.98 and a beta of 1.16. The company has a quick ratio of 1.13, a current ratio of 2.01 and a debt-to-equity ratio of 0.33. Steven Madden, Ltd. has a 52-week low of $19.05 and a 52-week high of $50.01. The business’s 50 day moving average is $25.83 and its two-hundred day moving average is $26.11.

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

Steven Madden Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders of record on Friday, September 12th will be given a $0.21 dividend. The ex-dividend date of this dividend is Friday, September 12th. This represents a $0.84 dividend on an annualized basis and a yield of 2.9%. Steven Madden’s payout ratio is presently 66.14%.

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.