Exchange Traded Concepts LLC Acquires New Shares in Steven Madden, Ltd. (NASDAQ:SHOO)

Exchange Traded Concepts LLC acquired a new stake in Steven Madden, Ltd. (NASDAQ:SHOO) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,214 shares of the textile maker’s stock, valued at approximately $59,000.

Several other institutional investors and hedge funds have also bought and sold shares of SHOO. Capital Research Global Investors grew its holdings in shares of Steven Madden by 8.6% during the first quarter. Capital Research Global Investors now owns 1,856,001 shares of the textile maker’s stock worth $78,472,000 after purchasing an additional 146,324 shares in the last quarter. Bank of New York Mellon Corp grew its position in Steven Madden by 0.6% during the second quarter. Bank of New York Mellon Corp now owns 873,682 shares of the textile maker’s stock valued at $36,957,000 after acquiring an additional 5,451 shares during the last quarter. Fort Washington Investment Advisors Inc. OH boosted its stake in shares of Steven Madden by 10.1% in the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 501,457 shares of the textile maker’s stock valued at $21,212,000 after purchasing an additional 45,910 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Steven Madden by 19.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 463,515 shares of the textile maker’s stock valued at $19,468,000 after buying an additional 75,034 shares during the period. Finally, Principal Financial Group Inc. lifted its stake 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 acquiring an additional 1,923 shares during the last quarter. 99.88% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SHOO has been the subject of a number of recent analyst reports. Telsey Advisory Group reiterated a “market perform” rating and set a $44.00 price target on shares of Steven Madden in a report on Wednesday, July 31st. Wedbush reissued a “neutral” rating and set a $41.00 price objective on shares of Steven Madden in a research report on Wednesday, August 7th. StockNews.com raised shares of Steven Madden from a “hold” rating to a “buy” rating in a research report on Wednesday, September 18th. Finally, Piper Sandler reissued a “neutral” rating and issued a $45.00 target price on shares of Steven Madden in a report on Friday, August 23rd. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $44.29.

Steven Madden Trading Down 0.8 %

Shares of NASDAQ SHOO opened at $45.25 on Thursday. Steven Madden, Ltd. has a 12-month low of $31.56 and a 12-month high of $50.01. The firm has a 50 day moving average of $46.24 and a 200 day moving average of $43.72. The firm has a market capitalization of $3.32 billion, a price-to-earnings ratio of 18.70 and a beta of 1.08.

Steven Madden (NASDAQ:SHOO) last released its earnings results on Wednesday, July 31st. The textile maker reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.06. The company had revenue of $523.60 million for the quarter, compared to analysts’ expectations of $515.15 million. Steven Madden had a net margin of 8.36% and a return on equity of 23.49%. The firm’s revenue was up 17.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.47 EPS. Sell-side analysts predict that Steven Madden, Ltd. will post 2.62 EPS for the current year.

Steven Madden Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Friday, September 13th were given a $0.21 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.84 annualized dividend and a dividend yield of 1.86%. Steven Madden’s payout ratio is 34.71%.

About Steven Madden

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.