Steven Madden, Ltd. (NASDAQ:SHOO) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lowered its position in Steven Madden, Ltd. (NASDAQ:SHOO) by 0.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 92,199 shares of the textile maker’s stock after selling 235 shares during the period. Thrivent Financial for Lutherans owned about 0.13% of Steven Madden worth $4,517,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Harbor Capital Advisors Inc. raised its position in shares of Steven Madden by 273.4% in the second quarter. Harbor Capital Advisors Inc. now owns 48,840 shares of the textile maker’s stock valued at $2,066,000 after buying an additional 35,761 shares during the last quarter. Jane Street Group LLC boosted 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 worth $7,755,000 after purchasing an additional 49,432 shares during the last quarter. Nicholas Investment Partners LP purchased a new stake in shares of Steven Madden in the second quarter valued at approximately $4,863,000. Vest Financial LLC purchased a new stake in shares of Steven Madden in the second quarter valued at approximately $1,074,000. Finally, Blue Trust Inc. increased its holdings in shares of Steven Madden by 94.1% in the third quarter. Blue Trust Inc. now owns 1,619 shares of the textile maker’s stock valued at $79,000 after purchasing an additional 785 shares during the last quarter. 99.88% of the stock is owned by hedge funds and other institutional investors.

Steven Madden Stock Up 1.4 %

Shares of Steven Madden stock opened at $43.40 on Monday. Steven Madden, Ltd. has a fifty-two week low of $36.56 and a fifty-two week high of $50.01. The business’s fifty day moving average is $46.29 and its two-hundred day moving average is $44.44. The firm has a market cap of $3.13 billion, a PE ratio of 18.47 and a beta of 1.08.

Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings results on Thursday, November 7th. The textile maker reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.02. The company had revenue of $624.68 million for the quarter, compared to the consensus estimate of $607.89 million. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. Steven Madden’s revenue was up 13.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.88 earnings per share. Equities research analysts anticipate that Steven Madden, Ltd. will post 2.65 EPS for the current year.

Steven Madden Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend is Friday, December 13th. Steven Madden’s payout ratio is currently 35.74%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Wedbush reissued a “neutral” rating and issued a $41.00 price target on shares of Steven Madden in a research note on Wednesday, August 7th. StockNews.com cut Steven Madden from a “buy” rating to a “hold” rating in a research note on Sunday. Piper Sandler reaffirmed a “neutral” rating and issued a $45.00 price target on shares of Steven Madden in a research note on Friday, August 23rd. Telsey Advisory Group reissued a “market perform” rating and set a $50.00 price objective on shares of Steven Madden in a research report on Wednesday, November 13th. Finally, Needham & Company LLC began coverage on shares of Steven Madden in a research report on Friday. They issued a “hold” rating on the stock. Eight research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $45.43.

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.