Oppenheimer Asset Management Inc. Grows Stock Position in Steven Madden, Ltd. (NASDAQ:SHOO)

Oppenheimer Asset Management Inc. increased its holdings in Steven Madden, Ltd. (NASDAQ:SHOO) by 30.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 9,268 shares of the textile maker’s stock after acquiring an additional 2,140 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Steven Madden were worth $392,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Nicholas Investment Partners LP purchased a new position in Steven Madden during the second quarter worth about $4,863,000. Vest Financial LLC purchased a new position in shares of Steven Madden during the 2nd quarter worth approximately $1,074,000. Los Angeles Capital Management LLC increased its holdings in Steven Madden by 190.5% in the 2nd quarter. Los Angeles Capital Management LLC now owns 40,321 shares of the textile maker’s stock valued at $1,706,000 after purchasing an additional 26,443 shares during the last quarter. TD Asset Management Inc raised its position in Steven Madden by 6.8% in the second quarter. TD Asset Management Inc now owns 98,300 shares of the textile maker’s stock valued at $4,158,000 after purchasing an additional 6,300 shares during the period. Finally, Natixis Advisors LLC lifted its stake in Steven Madden by 167.7% during the second quarter. Natixis Advisors LLC now owns 39,580 shares of the textile maker’s stock worth $1,674,000 after purchasing an additional 24,793 shares in the last quarter. Institutional investors and hedge funds own 99.88% of the company’s stock.

Steven Madden Trading Down 0.9 %

Shares of NASDAQ:SHOO opened at $47.47 on Friday. The company has a market cap of $3.48 billion, a PE ratio of 19.62 and a beta of 1.08. The company’s 50 day moving average is $44.17 and its two-hundred day moving average is $42.69. Steven Madden, Ltd. has a 52 week low of $30.35 and a 52 week high of $48.76.

Steven Madden (NASDAQ:SHOO) last posted 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. The company had revenue of $523.60 million for the quarter, compared to analysts’ expectations of $515.15 million. Steven Madden had a return on equity of 23.49% and a net margin of 8.36%. Steven Madden’s quarterly revenue was up 17.6% on a year-over-year basis. During the same period last year, the firm earned $0.47 earnings per share. As a group, equities research analysts expect that Steven Madden, Ltd. will post 2.62 EPS for the current year.

Steven Madden Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Friday, September 13th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date is Friday, September 13th. Steven Madden’s dividend payout ratio (DPR) is 34.71%.

Analyst Ratings Changes

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

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.