Steven Madden, Ltd. (NASDAQ:SHOO) Shares Sold by Edgestream Partners L.P.

Edgestream Partners L.P. trimmed its position in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 73.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 36,442 shares of the textile maker’s stock after selling 101,540 shares during the quarter. Edgestream Partners L.P. owned approximately 0.05% of Steven Madden worth $1,541,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Capital Research Global Investors boosted 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 worth $78,472,000 after purchasing an additional 146,324 shares during the last quarter. Bank of New York Mellon Corp boosted 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 worth $36,957,000 after acquiring an additional 5,451 shares during the last quarter. First Trust Advisors LP grew its stake in Steven Madden by 13.8% during the 4th quarter. First Trust Advisors LP now owns 613,449 shares of the textile maker’s stock valued at $25,765,000 after acquiring an additional 74,225 shares in the last quarter. Ranger Investment Management L.P. raised its holdings in Steven Madden by 36.8% in the 4th quarter. Ranger Investment Management L.P. now owns 560,941 shares of the textile maker’s stock valued at $23,560,000 after acquiring an additional 150,852 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH lifted its stake in 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 worth $21,212,000 after purchasing an additional 45,910 shares in the last quarter. 99.88% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently issued reports on SHOO. Piper Sandler restated a “neutral” rating and issued a $45.00 price target on shares of Steven Madden in a research report on Friday, August 23rd. Wedbush restated a “neutral” rating and issued a $41.00 target price on shares of Steven Madden in a report on Wednesday, August 7th. StockNews.com upgraded Steven Madden from a “hold” rating to a “buy” rating in a report on Wednesday. Telsey Advisory Group reissued a “market perform” rating and issued a $44.00 price objective on shares of Steven Madden in a report on Wednesday, July 31st. Finally, BTIG Research lifted their target price on shares of Steven Madden from $50.00 to $53.00 and gave the stock a “buy” rating in a research note on Thursday, June 6th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $44.29.

Steven Madden Trading Up 0.9 %

Shares of NASDAQ:SHOO opened at $47.89 on Friday. The company has a market capitalization of $3.48 billion, a price-to-earnings ratio of 19.79 and a beta of 1.08. Steven Madden, Ltd. has a 12-month low of $30.35 and a 12-month high of $48.76. The business has a 50-day moving average price of $44.04 and a 200 day moving average price of $42.62.

Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings results on Wednesday, July 31st. The textile maker reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $515.15 million. During the same period last year, the business earned $0.47 earnings per share. The business’s revenue for the quarter was up 17.6% on a year-over-year basis. As a group, equities research analysts predict that Steven Madden, Ltd. will post 2.62 earnings per share for the current fiscal year.

Steven Madden Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Friday, September 13th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date of this dividend is Friday, September 13th. Steven Madden’s payout ratio is 34.71%.

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.