Allspring Global Investments Holdings LLC Purchases 2,117 Shares of Steven Madden, Ltd. (NASDAQ:SHOO)

Allspring Global Investments Holdings LLC raised its position in Steven Madden, Ltd. (NASDAQ:SHOO) by 0.2% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 1,203,020 shares of the textile maker’s stock after acquiring an additional 2,117 shares during the period. Allspring Global Investments Holdings LLC owned about 1.64% of Steven Madden worth $50,864,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the company. abrdn plc bought a new stake in Steven Madden during the 4th quarter worth about $20,351,000. Norges Bank bought a new stake in Steven Madden during the fourth quarter worth about $19,846,000. Lazard Asset Management LLC boosted its position in Steven Madden by 348.9% during the third quarter. Lazard Asset Management LLC now owns 447,018 shares of the textile maker’s stock valued at $14,201,000 after purchasing an additional 347,431 shares during the last quarter. Pacer Advisors Inc. grew its stake in Steven Madden by 30.7% in the fourth quarter. Pacer Advisors Inc. now owns 1,469,956 shares of the textile maker’s stock valued at $61,738,000 after purchasing an additional 345,558 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in Steven Madden by 5.3% in the third quarter. Wellington Management Group LLP now owns 6,264,768 shares of the textile maker’s stock valued at $199,032,000 after purchasing an additional 316,676 shares in the last quarter. Institutional investors and hedge funds own 99.88% of the company’s stock.

Insiders Place Their Bets

In other news, Director Rose Peabody Lynch sold 1,600 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $44.41, for a total transaction of $71,056.00. Following the completion of the sale, the director now owns 21,303 shares of the company’s stock, valued at approximately $946,066.23. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Steven Madden news, Director Rose Peabody Lynch sold 1,600 shares of the firm’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $44.41, for a total value of $71,056.00. Following the sale, the director now owns 21,303 shares of the company’s stock, valued at approximately $946,066.23. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Peter Migliorini sold 3,000 shares of Steven Madden stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $43.81, for a total value of $131,430.00. Following the completion of the transaction, the director now owns 16,006 shares in the company, valued at approximately $701,222.86. The disclosure for this sale can be found here. Insiders have sold 14,600 shares of company stock worth $651,586 over the last ninety days. Corporate insiders own 2.08% of the company’s stock.

Steven Madden Stock Up 1.1 %

Shares of NASDAQ:SHOO opened at $42.03 on Wednesday. Steven Madden, Ltd. has a 12-month low of $30.35 and a 12-month high of $45.91. The company’s 50 day moving average price is $42.45 and its two-hundred day moving average price is $42.08. The firm has a market cap of $3.08 billion, a PE ratio of 17.37 and a beta of 1.09.

Steven Madden (NASDAQ:SHOO) last issued its quarterly earnings results on Wednesday, May 1st. The textile maker reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.09. The business had revenue of $552.38 million for the quarter, compared to the consensus estimate of $525.04 million. Steven Madden had a return on equity of 22.68% and a net margin of 8.65%. The firm’s quarterly revenue was up 19.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.50 earnings per share. On average, research analysts expect that Steven Madden, Ltd. will post 2.62 EPS for the current year.

Steven Madden Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Monday, June 10th were paid a dividend of $0.21 per share. The ex-dividend date was Monday, June 10th. This represents a $0.84 dividend on an annualized basis and a yield of 2.00%. Steven Madden’s payout ratio is 34.71%.

Analyst Ratings Changes

Several analysts have issued reports on SHOO shares. Telsey Advisory Group reaffirmed a “market perform” rating and set a $44.00 price target on shares of Steven Madden in a research report on Friday, April 26th. Wedbush reaffirmed a “neutral” rating and set a $41.00 target price on shares of Steven Madden in a report on Friday, May 17th. Finally, BTIG Research increased their price target 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. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Steven Madden currently has a consensus rating of “Hold” and an average price target of $43.38.

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.