Vest Financial LLC Sells 1,254 Shares of Steven Madden, Ltd. $SHOO

Vest Financial LLC trimmed its position in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 1.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 78,756 shares of the textile maker’s stock after selling 1,254 shares during the period. Vest Financial LLC owned 0.11% of Steven Madden worth $1,889,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of SHOO. Vanguard Group Inc. increased its holdings in Steven Madden by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 8,316,124 shares of the textile maker’s stock valued at $221,542,000 after acquiring an additional 218,785 shares during the last quarter. Wellington Management Group LLP increased its holdings in Steven Madden by 1.8% in the 1st quarter. Wellington Management Group LLP now owns 4,802,603 shares of the textile maker’s stock valued at $127,941,000 after acquiring an additional 84,570 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in Steven Madden by 4.5% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 2,452,407 shares of the textile maker’s stock valued at $65,333,000 after acquiring an additional 106,028 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Steven Madden by 15.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,679,538 shares of the textile maker’s stock valued at $42,324,000 after acquiring an additional 224,157 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in Steven Madden by 46.5% in the 1st quarter. Victory Capital Management Inc. now owns 1,212,373 shares of the textile maker’s stock valued at $32,298,000 after acquiring an additional 384,979 shares during the last quarter. 99.88% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. BTIG Research lifted their price target on shares of Steven Madden from $34.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, October 9th. Needham & Company LLC reiterated a “hold” rating on shares of Steven Madden in a report on Wednesday, July 30th. Piper Sandler upgraded shares of Steven Madden from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $25.00 to $40.00 in a report on Monday, September 22nd. UBS Group lifted their price objective on shares of Steven Madden from $23.00 to $26.00 and gave the stock a “neutral” rating in a research note on Monday, July 28th. Finally, Citigroup raised shares of Steven Madden from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $26.00 to $32.00 in a research note on Thursday, July 17th. Three equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, Steven Madden currently has a consensus rating of “Hold” and an average price target of $33.17.

Steven Madden Price Performance

SHOO stock opened at $34.96 on Wednesday. Steven Madden, Ltd. has a 12 month low of $19.05 and a 12 month high of $49.12. The company has a current ratio of 2.01, a quick ratio of 1.13 and a debt-to-equity ratio of 0.33. The company has a 50-day moving average price of $30.47 and a 200 day moving average price of $26.25. The stock has a market cap of $2.54 billion, a PE ratio of 27.53 and a beta of 1.22.

Steven Madden (NASDAQ:SHOO) last released its quarterly 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 firm had revenue of $556.09 million for the quarter, compared to analysts’ expectations of $575.83 million. During the same period in the prior year, the firm posted $0.57 earnings per share. Steven Madden’s revenue for the quarter was up 6.8% on a year-over-year basis. Equities research analysts anticipate that Steven Madden, Ltd. will post 2.66 earnings per share for the current year.

Steven Madden Announces Dividend

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

Steven Madden 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.