Asset Management One Co. Ltd. acquired a new position in Steven Madden, Ltd. (NASDAQ:SHOO) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 5,790 shares of the textile maker’s stock, valued at approximately $254,000.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Landscape Capital Management L.L.C. grew its holdings in shares of Steven Madden by 480.5% in the first quarter. Landscape Capital Management L.L.C. now owns 269,976 shares of the textile maker’s stock worth $11,852,000 after acquiring an additional 223,467 shares during the period. Russell Investments Group Ltd. grew its holdings in shares of Steven Madden by 7.7% in the first quarter. Russell Investments Group Ltd. now owns 70,746 shares of the textile maker’s stock worth $3,105,000 after acquiring an additional 5,082 shares during the period. Hsbc Holdings PLC grew its holdings in shares of Steven Madden by 106.9% in the first quarter. Hsbc Holdings PLC now owns 10,595 shares of the textile maker’s stock worth $466,000 after acquiring an additional 5,473 shares during the period. Quantbot Technologies LP bought a new stake in shares of Steven Madden in the first quarter worth $467,000. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Steven Madden by 0.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,723,829 shares of the textile maker’s stock worth $75,676,000 after acquiring an additional 6,574 shares during the period. 94.91% of the stock is owned by institutional investors.
In other Steven Madden news, insider Karla Frieders sold 4,000 shares of the business’s stock in a transaction dated Thursday, April 26th. The stock was sold at an average price of $48.08, for a total transaction of $192,320.00. Following the completion of the sale, the insider now owns 88,280 shares of the company’s stock, valued at $4,244,502.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Peter Migliorini sold 1,000 shares of the business’s stock in a transaction dated Monday, June 11th. The shares were sold at an average price of $54.18, for a total value of $54,180.00. Following the sale, the director now directly owns 6,826 shares of the company’s stock, valued at approximately $369,832.68. The disclosure for this sale can be found here. Insiders have sold 116,000 shares of company stock valued at $5,890,240 in the last three months. 1.77% of the stock is currently owned by corporate insiders.
NASDAQ:SHOO opened at $53.15 on Friday. Steven Madden, Ltd. has a 52-week low of $37.25 and a 52-week high of $55.50. The stock has a market cap of $3.16 billion, a price-to-earnings ratio of 23.73, a P/E/G ratio of 1.88 and a beta of 0.46.
Steven Madden (NASDAQ:SHOO) last released its quarterly earnings results on Friday, April 20th. The textile maker reported $0.54 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.04. Steven Madden had a return on equity of 16.75% and a net margin of 8.06%. The business had revenue of $389.00 million during the quarter, compared to analyst estimates of $379.67 million. During the same quarter in the previous year, the company posted $0.47 earnings per share. Steven Madden’s revenue for the quarter was up 6.2% on a year-over-year basis. equities research analysts expect that Steven Madden, Ltd. will post 2.7 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Tuesday, June 12th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.51%. The ex-dividend date of this dividend is Monday, June 11th. Steven Madden’s dividend payout ratio is presently 35.71%.
Several analysts recently commented on the company. Buckingham Research reaffirmed a “buy” rating and issued a $53.00 price objective on shares of Steven Madden in a report on Wednesday, April 18th. Canaccord Genuity set a $52.00 price objective on Steven Madden and gave the stock a “buy” rating in a report on Tuesday, February 27th. Loop Capital assumed coverage on Steven Madden in a report on Monday, June 4th. They issued a “hold” rating and a $49.00 price objective for the company. BidaskClub raised Steven Madden from a “sell” rating to a “hold” rating in a report on Thursday, March 8th. Finally, Telsey Advisory Group lifted their price objective on Steven Madden from $55.00 to $61.00 and gave the stock an “outperform” rating in a report on Wednesday, June 6th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $51.81.
Steven Madden Company Profile
Steven Madden, Ltd. designs, sources, markets, and sells fashion-forward name brand and private label footwear for women, men, and children worldwide. Its Wholesale Footwear segment provides footwear under the Steve Madden Women's, Madden Girl, Steve Madden Men's, Madden, Madden NYC, Dolce Vita, DV by Dolce Vita, Mad Love, Steven by Steve Madden, Report, Superga, Betsey Johnson, Betseyville, Steve Madden Kids, FREEBIRD by Steven, Stevies, B Brian Atwood, Blondo, Kate Spade, and Avec Les Filles brands, as well as private label footwear.
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