Fmr LLC Acquires 528,619 Shares of Steven Madden, Ltd. (NASDAQ:SHOO)

Fmr LLC increased its holdings in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 8,180.4% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 535,081 shares of the textile maker’s stock after purchasing an additional 528,619 shares during the period. Fmr LLC owned 0.74% of Steven Madden worth $26,214,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Landscape Capital Management L.L.C. bought a new position in Steven Madden during the third quarter worth about $2,614,000. Nicholas Investment Partners LP bought a new position in Steven Madden during the second quarter worth about $4,863,000. Charles Schwab Investment Management Inc. grew its holdings in Steven Madden by 3.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,096,777 shares of the textile maker’s stock worth $53,731,000 after purchasing an additional 32,696 shares during the period. Vest Financial LLC bought a new position in Steven Madden during the second quarter worth about $1,074,000. Finally, Blue Trust Inc. grew its holdings in Steven Madden by 94.1% during the third quarter. Blue Trust Inc. now owns 1,619 shares of the textile maker’s stock worth $79,000 after purchasing an additional 785 shares during the period. Institutional investors own 99.88% of the company’s stock.

Steven Madden Trading Down 2.0 %

Shares of SHOO stock opened at $43.84 on Tuesday. The stock has a market cap of $3.16 billion, a P/E ratio of 18.66 and a beta of 1.07. The stock has a 50 day simple moving average of $45.67 and a 200 day simple moving average of $44.69. Steven Madden, Ltd. has a 1 year low of $37.99 and a 1 year high of $50.01.

Steven Madden (NASDAQ:SHOO) last issued its quarterly earnings results on Thursday, November 7th. The textile maker reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.02. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. The business had revenue of $624.68 million during the quarter, compared to analysts’ expectations of $607.89 million. During the same period in the previous year, the company posted $0.88 earnings per share. The firm’s revenue for the quarter was up 13.0% compared to the same quarter last year. Analysts forecast that Steven Madden, Ltd. will post 2.66 EPS for the current year.

Steven Madden Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.84 annualized dividend and a dividend yield of 1.92%. Steven Madden’s dividend payout ratio is currently 35.74%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on SHOO shares. Telsey Advisory Group restated a “market perform” rating and set a $50.00 price objective on shares of Steven Madden in a report on Wednesday, November 13th. Needham & Company LLC restated a “hold” rating on shares of Steven Madden in a report on Thursday, December 5th. Citigroup boosted their price objective on Steven Madden from $43.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. StockNews.com cut Steven Madden from a “buy” rating to a “hold” rating in a report on Sunday, November 24th. Finally, Piper Sandler restated a “neutral” rating and set a $45.00 price objective on shares of Steven Madden in a report on Friday, August 23rd. Eight analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $45.43.

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.