SG Americas Securities LLC Lowers Holdings in Steven Madden, Ltd. (NASDAQ:SHOO)

SG Americas Securities LLC lowered its stake in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 84.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). 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 at the end of the most recent quarter.

Several other large investors have also modified their holdings of SHOO. Goldman Sachs Group Inc. raised its stake 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 worth $19,468,000 after purchasing an additional 75,034 shares during the period. PNC Financial Services Group Inc. raised 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 period. Principal Financial Group Inc. boosted its holdings in Steven Madden by 0.5% in the first 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. Fidelis Capital Partners LLC purchased a new stake in Steven Madden during the first 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 currently owned by hedge funds and other institutional investors.

Steven Madden Stock Up 0.4 %

SHOO opened at $45.43 on Friday. The firm’s 50 day moving average is $46.27 and its 200-day moving average is $43.73. Steven Madden, Ltd. has a 52-week low of $31.56 and a 52-week high of $50.01. The firm has a market capitalization of $3.30 billion, a P/E ratio of 18.54 and a beta of 1.08.

Steven Madden (NASDAQ:SHOO) last released its quarterly earnings results on Wednesday, July 31st. The textile maker reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.06. The firm had revenue of $523.60 million for the quarter, compared to the consensus estimate of $515.15 million. Steven Madden had a net margin of 8.36% and a return on equity of 23.49%. The firm’s quarterly revenue was up 17.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.47 EPS. Equities analysts expect that Steven Madden, Ltd. will post 2.62 earnings per share for the current fiscal year.

Steven Madden Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SHOO. Piper Sandler reaffirmed a “neutral” rating and issued a $45.00 price objective on shares of Steven Madden in a research note on Friday, August 23rd. Telsey Advisory Group reaffirmed a “market perform” rating and set a $44.00 price target on shares of Steven Madden in a research report on Wednesday, July 31st. StockNews.com raised shares of Steven Madden from a “hold” rating to a “buy” rating in a research report on Wednesday, September 18th. Finally, Wedbush reissued a “neutral” rating and issued a $41.00 target price on shares of Steven Madden in a research note on Wednesday, August 7th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Steven Madden has an average rating of “Hold” and an average price target 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.