Steven Madden, Ltd. (NASDAQ:SHOO) Position Raised by Raymond James & Associates

Raymond James & Associates raised its stake in Steven Madden, Ltd. (NASDAQ:SHOO) by 3.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 114,484 shares of the textile maker’s stock after buying an additional 3,962 shares during the period. Raymond James & Associates owned approximately 0.16% of Steven Madden worth $5,609,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of SHOO. Capital Research Global Investors raised its stake in Steven Madden by 8.6% during the 1st quarter. Capital Research Global Investors now owns 1,856,001 shares of the textile maker’s stock valued at $78,472,000 after purchasing an additional 146,324 shares during the period. Edgestream Partners L.P. purchased a new position in shares of Steven Madden during the 1st quarter valued at $5,834,000. Nicholas Investment Partners LP purchased a new position in shares of Steven Madden during the 2nd quarter valued at $4,863,000. Squarepoint Ops LLC purchased a new position in shares of Steven Madden during the 2nd quarter valued at $4,550,000. Finally, Jane Street Group LLC grew its holdings in shares of Steven Madden by 36.9% during the 1st quarter. Jane Street Group LLC now owns 183,423 shares of the textile maker’s stock valued at $7,755,000 after acquiring an additional 49,432 shares in the last quarter. Institutional investors own 99.88% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SHOO. Wedbush reiterated a “neutral” rating and issued a $41.00 price objective on shares of Steven Madden in a 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. Piper Sandler reaffirmed a “neutral” rating and set a $45.00 price objective on shares of Steven Madden in a research report on Friday, August 23rd. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $50.00 price objective on shares of Steven Madden in a research report on Wednesday. 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 an average rating of “Hold” and an average price target of $45.14.

Steven Madden Stock Down 0.5 %

NASDAQ:SHOO opened at $44.75 on Friday. The firm has a market capitalization of $3.25 billion, a PE ratio of 18.27 and a beta of 1.08. Steven Madden, Ltd. has a 12-month low of $32.54 and a 12-month high of $50.01. The firm has a 50-day moving average price of $46.38 and a 200 day moving average price of $43.96.

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

Steven Madden Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Friday, September 13th were paid a $0.21 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.84 dividend on an annualized basis and a yield of 1.88%. Steven Madden’s payout ratio is presently 34.29%.

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.