Steven Madden, Ltd. (NASDAQ:SHOO) Shares Sold by American Century Companies Inc.

American Century Companies Inc. decreased its holdings in Steven Madden, Ltd. (NASDAQ:SHOO) by 79.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 213,558 shares of the textile maker’s stock after selling 821,283 shares during the quarter. American Century Companies Inc. owned 0.29% of Steven Madden worth $9,034,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Capital Research Global Investors boosted its stake in shares of Steven Madden by 8.6% in the first 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. Bank of New York Mellon Corp boosted its stake in shares of Steven Madden by 0.6% in the second quarter. Bank of New York Mellon Corp now owns 873,682 shares of the textile maker’s stock valued at $36,957,000 after purchasing an additional 5,451 shares during the period. First Trust Advisors LP boosted its stake in shares of Steven Madden by 13.8% in the fourth quarter. First Trust Advisors LP now owns 613,449 shares of the textile maker’s stock valued at $25,765,000 after purchasing an additional 74,225 shares during the period. Ranger Investment Management L.P. boosted its stake in shares of Steven Madden by 36.8% in the fourth quarter. Ranger Investment Management L.P. now owns 560,941 shares of the textile maker’s stock valued at $23,560,000 after purchasing an additional 150,852 shares during the period. Finally, Fort Washington Investment Advisors Inc. OH lifted its stake in Steven Madden by 10.1% in the second quarter. Fort Washington Investment Advisors Inc. OH now owns 501,457 shares of the textile maker’s stock worth $21,212,000 after acquiring an additional 45,910 shares during the last quarter. Hedge funds and other institutional investors own 99.88% of the company’s stock.

Steven Madden Price Performance

Shares of Steven Madden stock opened at $47.47 on Monday. The firm’s fifty day simple moving average is $44.17 and its 200-day simple moving average is $42.69. The stock has a market capitalization of $3.48 billion, a price-to-earnings ratio of 19.62 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.

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

Steven Madden Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Friday, September 13th will be paid a $0.21 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.84 annualized dividend and a yield of 1.77%. Steven Madden’s dividend payout ratio is currently 34.71%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Piper Sandler reiterated a “neutral” rating and issued a $45.00 price target on shares of Steven Madden in a research note on Friday, August 23rd. StockNews.com upgraded shares of Steven Madden from a “hold” rating to a “buy” rating in a research note on Wednesday, September 18th. Wedbush reiterated a “neutral” rating and issued a $41.00 price target on shares of Steven Madden in a research note on Wednesday, August 7th. Telsey Advisory Group reiterated a “market perform” rating and issued a $44.00 price target on shares of Steven Madden in a research note on Wednesday, July 31st. Finally, BTIG Research lifted their price target 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 equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $44.29.

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.