Principal Financial Group Inc. Cuts Position in Steven Madden, Ltd. (NASDAQ:SHOO)

Principal Financial Group Inc. decreased its holdings in Steven Madden, Ltd. (NASDAQ:SHOO) by 4.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 368,938 shares of the textile maker’s stock after selling 18,267 shares during the quarter. Principal Financial Group Inc. owned about 0.50% of Steven Madden worth $15,606,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Blue Trust Inc. raised its position in Steven Madden by 9,166.7% in the second quarter. Blue Trust Inc. now owns 834 shares of the textile maker’s stock worth $35,000 after acquiring an additional 825 shares in the last quarter. Fidelis Capital Partners LLC acquired a new stake in Steven Madden in the first quarter valued at $47,000. EntryPoint Capital LLC acquired a new stake in Steven Madden in the first quarter valued at $81,000. Central Pacific Bank Trust Division acquired a new stake in Steven Madden in the first quarter valued at $170,000. Finally, AlphaMark Advisors LLC grew its holdings in Steven Madden by 7.4% in the second quarter. AlphaMark Advisors LLC now owns 7,785 shares of the textile maker’s stock valued at $329,000 after purchasing an additional 535 shares during the last quarter. Hedge funds and other institutional investors own 99.88% of the company’s stock.

Insider Buying and Selling

In related news, Director Peter Migliorini sold 3,000 shares of the stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $43.81, for a total transaction of $131,430.00. Following the transaction, the director now directly owns 16,006 shares in the company, valued at $701,222.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.08% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Telsey Advisory Group reissued a “market perform” rating and issued a $44.00 target price on shares of Steven Madden in a report on Wednesday, July 31st. Piper Sandler reissued a “neutral” rating and issued a $45.00 target price on shares of Steven Madden in a report on Friday, August 23rd. StockNews.com lowered Steven Madden from a “buy” rating to a “hold” rating in a report on Tuesday, August 27th. BTIG Research upped their target price on Steven Madden from $50.00 to $53.00 and gave the company a “buy” rating in a report on Thursday, June 6th. Finally, Wedbush reaffirmed a “neutral” rating and set a $41.00 price objective on shares of Steven Madden in a research note on Wednesday, August 7th. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Steven Madden has a consensus rating of “Hold” and a consensus target price of $44.29.

Steven Madden Stock Down 1.2 %

SHOO opened at $43.97 on Thursday. The firm has a market cap of $3.19 billion, a P/E ratio of 18.17 and a beta of 1.08. Steven Madden, Ltd. has a 52 week low of $30.35 and a 52 week high of $47.24. The business’s fifty day simple moving average is $43.56 and its 200 day simple moving average is $42.54.

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

Steven Madden Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Friday, September 13th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.84 annualized dividend and a yield of 1.91%. Steven Madden’s dividend payout ratio (DPR) is presently 34.71%.

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.