Steven Madden, Ltd. (NASDAQ:SHOO) Shares Sold by First Eagle Investment Management LLC

First Eagle Investment Management LLC trimmed its stake in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 23.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 136,126 shares of the textile maker’s stock after selling 42,600 shares during the period. First Eagle Investment Management LLC owned 0.19% of Steven Madden worth $5,758,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Blue Trust Inc. lifted its stake in Steven Madden by 9,166.7% in the 2nd quarter. Blue Trust Inc. now owns 834 shares of the textile maker’s stock valued at $35,000 after buying an additional 825 shares in the last quarter. Fidelis Capital Partners LLC acquired a new position in shares of Steven Madden during the first quarter valued at approximately $47,000. EntryPoint Capital LLC purchased a new position in shares of Steven Madden in the first quarter valued at approximately $81,000. nVerses Capital LLC boosted its stake in shares of Steven Madden by 3,600.0% in the second quarter. nVerses Capital LLC now owns 3,700 shares of the textile maker’s stock worth $157,000 after acquiring an additional 3,600 shares during the last quarter. Finally, Central Pacific Bank Trust Division purchased a new stake in shares of Steven Madden during the first quarter worth approximately $170,000. Institutional investors and hedge funds own 99.88% of the company’s stock.

Steven Madden Stock Performance

SHOO opened at $47.47 on Friday. The stock has a market capitalization of $3.48 billion, a PE ratio of 19.62 and a beta of 1.08. Steven Madden, Ltd. has a one year low of $30.35 and a one year high of $48.76. The business’s 50 day moving average price is $44.17 and its 200 day moving average price is $42.69.

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

Steven Madden Announces Dividend

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

Analyst Ratings Changes

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