Steven Madden, Ltd. (NASDAQ:SHOO) Shares Purchased by State Street Corp

State Street Corp raised its position in Steven Madden, Ltd. (NASDAQ:SHOO) by 1.7% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 2,756,075 shares of the textile maker’s stock after buying an additional 47,017 shares during the quarter. State Street Corp owned about 3.82% of Steven Madden worth $135,020,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of Steven Madden by 3.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,096,777 shares of the textile maker’s stock valued at $53,731,000 after acquiring an additional 32,696 shares in the last quarter. Bank of New York Mellon Corp increased its position in Steven Madden by 0.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 873,682 shares of the textile maker’s stock worth $36,957,000 after purchasing an additional 5,451 shares during the period. Fisher Asset Management LLC raised its stake in shares of Steven Madden by 0.6% during the 3rd quarter. Fisher Asset Management LLC now owns 728,674 shares of the textile maker’s stock worth $35,698,000 after buying an additional 4,108 shares in the last quarter. abrdn plc lifted its holdings in shares of Steven Madden by 2.7% in the 3rd quarter. abrdn plc now owns 558,015 shares of the textile maker’s stock valued at $27,242,000 after buying an additional 14,841 shares during the period. Finally, FMR LLC boosted its stake in shares of Steven Madden by 8,180.4% in the third quarter. FMR LLC now owns 535,081 shares of the textile maker’s stock valued at $26,214,000 after buying an additional 528,619 shares in the last quarter. 99.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on SHOO shares. Needham & Company LLC reissued a “hold” rating on shares of Steven Madden in a report on Thursday, December 5th. StockNews.com downgraded shares of Steven Madden from a “buy” rating to a “hold” rating in a report on Sunday, November 24th. Piper Sandler reaffirmed a “neutral” rating and issued a $45.00 target price on shares of Steven Madden in a report on Friday, August 23rd. Telsey Advisory Group reissued a “market perform” rating and set a $50.00 price target on shares of Steven Madden in a research note on Wednesday, November 13th. Finally, Citigroup upped their price target on Steven Madden from $43.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Eight research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $45.43.

Steven Madden Stock Performance

SHOO stock opened at $43.67 on Friday. The stock’s 50 day moving average price is $45.25 and its 200 day moving average price is $44.70. The firm has a market cap of $3.15 billion, a P/E ratio of 18.58 and a beta of 1.07. Steven Madden, Ltd. has a 1 year low of $37.99 and a 1 year high of $50.01.

Steven Madden (NASDAQ:SHOO) last released 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 during the quarter, compared to analysts’ expectations of $607.89 million. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. The business’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.88 earnings per share. On average, research analysts predict that Steven Madden, Ltd. will post 2.66 earnings per share for the current year.

Steven Madden Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.92%. Steven Madden’s dividend payout ratio (DPR) is presently 35.74%.

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.