Systematic Financial Management LP Has $16.03 Million Holdings in Steven Madden, Ltd. (NASDAQ:SHOO)

Systematic Financial Management LP trimmed its stake in Steven Madden, Ltd. (NASDAQ:SHOO) by 18.5% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 378,850 shares of the textile maker’s stock after selling 86,173 shares during the period. Systematic Financial Management LP’s holdings in Steven Madden were worth $16,025,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Seven Eight Capital LP grew its position in Steven Madden by 902.5% during the first quarter. Seven Eight Capital LP now owns 49,265 shares of the textile maker’s stock worth $2,083,000 after buying an additional 44,351 shares in the last quarter. Harbor Capital Advisors Inc. grew its holdings in shares of Steven Madden by 273.4% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 48,840 shares of the textile maker’s stock worth $2,066,000 after purchasing an additional 35,761 shares in the last quarter. Corient Private Wealth LLC bought a new stake in shares of Steven Madden during the fourth quarter valued at approximately $809,000. Quantbot Technologies LP acquired a new position in shares of Steven Madden in the first quarter valued at $1,968,000. Finally, Magnetar Financial LLC bought a new position in Steven Madden in the first quarter worth $876,000. Institutional investors own 99.88% of the company’s stock.

Steven Madden Price Performance

NASDAQ SHOO opened at $48.69 on Friday. The stock’s 50 day simple moving average is $44.60 and its 200 day simple moving average is $42.92. Steven Madden, Ltd. has a one year low of $30.87 and a one year high of $49.29. The firm has a market cap of $3.54 billion, a PE ratio of 20.12 and a beta of 1.08.

Steven Madden (NASDAQ:SHOO) last announced its earnings results on Wednesday, July 31st. The textile maker reported $0.57 EPS 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 company had revenue of $523.60 million for the quarter, compared to analysts’ expectations of $515.15 million. During the same quarter in the prior year, the business earned $0.47 earnings per share. The business’s revenue for the quarter was up 17.6% on a year-over-year basis. As a group, equities analysts expect that Steven Madden, Ltd. will post 2.62 earnings per share for the current year.

Steven Madden Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Friday, September 13th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend was Friday, September 13th. Steven Madden’s dividend payout ratio is presently 34.71%.

Wall Street Analyst Weigh In

SHOO has been the topic of several analyst reports. Wedbush reissued a “neutral” rating and issued a $41.00 price target on shares of Steven Madden in a report on Wednesday, August 7th. BTIG Research lifted their price objective on Steven Madden from $50.00 to $53.00 and gave the company a “buy” rating in a report on Thursday, June 6th. 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. StockNews.com raised Steven Madden from a “hold” rating to a “buy” rating in a research note on Wednesday, September 18th. Finally, Piper Sandler reiterated a “neutral” rating and set a $45.00 price objective on shares of Steven Madden in a research note on Friday, August 23rd. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $44.29.

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.