Principal Financial Group Inc. Acquires 656 Shares of Steven Madden, Ltd. (NASDAQ:SHOO)

Principal Financial Group Inc. lifted its holdings in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 0.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 369,594 shares of the textile maker’s stock after purchasing an additional 656 shares during the period. Principal Financial Group Inc. owned 0.51% of Steven Madden worth $18,106,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in SHOO. FMR LLC boosted its holdings in shares of Steven Madden by 8,180.4% during the 3rd quarter. FMR LLC now owns 535,081 shares of the textile maker’s stock worth $26,214,000 after buying an additional 528,619 shares in the last quarter. Weiss Asset Management LP bought a new position in Steven Madden during the third quarter worth $12,558,000. Nicholas Investment Partners LP acquired a new stake in Steven Madden in the second quarter worth $4,863,000. Squarepoint Ops LLC bought a new stake in Steven Madden in the second quarter valued at $4,550,000. Finally, Barclays PLC raised its holdings in shares of Steven Madden by 286.9% during the third quarter. Barclays PLC now owns 139,206 shares of the textile maker’s stock valued at $6,819,000 after purchasing an additional 103,226 shares during the period. Institutional investors and hedge funds own 99.88% of the company’s stock.

Analyst Ratings Changes

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

Steven Madden Price Performance

SHOO opened at $42.53 on Friday. Steven Madden, Ltd. has a fifty-two week low of $37.99 and a fifty-two week high of $50.01. The firm has a market capitalization of $3.07 billion, a P/E ratio of 18.10 and a beta of 1.07. The company’s 50-day moving average is $44.36 and its 200 day moving average is $44.60.

Steven Madden (NASDAQ:SHOO) last posted its earnings results on Thursday, November 7th. The textile maker reported $0.91 EPS for the quarter, topping the consensus estimate of $0.89 by $0.02. The firm had revenue of $624.68 million for the quarter, compared to analysts’ expectations of $607.89 million. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. The company’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.88 EPS. On average, equities research analysts expect that Steven Madden, Ltd. will post 2.66 earnings per share for the current year.

Steven Madden Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.84 dividend on an annualized basis and a yield of 1.98%. Steven Madden’s dividend payout ratio (DPR) is presently 35.74%.

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.