HL Financial Services LLC grew its position in Steven Madden, Ltd. (NASDAQ:SHOO) by 7.6% in the 3rd quarter, Holdings Channel reports. The firm owned 87,064 shares of the textile maker’s stock after buying an additional 6,115 shares during the period. HL Financial Services LLC’s holdings in Steven Madden were worth $4,606,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. NumerixS Investment Technologies Inc lifted its stake in Steven Madden by 81.8% during the second quarter. NumerixS Investment Technologies Inc now owns 2,000 shares of the textile maker’s stock valued at $108,000 after purchasing an additional 900 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new stake in Steven Madden during the second quarter valued at approximately $113,000. WINTON GROUP Ltd acquired a new stake in Steven Madden during the second quarter valued at approximately $213,000. CIBC Asset Management Inc acquired a new stake in Steven Madden during the second quarter valued at approximately $226,000. Finally, Strs Ohio lifted its stake in Steven Madden by 27.0% during the second quarter. Strs Ohio now owns 4,700 shares of the textile maker’s stock valued at $249,000 after purchasing an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 64.12% of the company’s stock.
In other news, Director Rose Peabody Lynch sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, September 18th. The shares were sold at an average price of $57.27, for a total transaction of $143,175.00. Following the completion of the transaction, the director now directly owns 7,103 shares of the company’s stock, valued at approximately $406,788.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Karla Frieders sold 7,000 shares of the firm’s stock in a transaction dated Monday, September 10th. The stock was sold at an average price of $56.89, for a total transaction of $398,230.00. Following the transaction, the insider now directly owns 75,280 shares of the company’s stock, valued at $4,282,679.20. The disclosure for this sale can be found here. Insiders have sold a total of 13,500 shares of company stock valued at $771,405 over the last ninety days. 1.77% of the stock is owned by insiders.
Several analysts recently commented on the stock. Canaccord Genuity set a $39.33 target price on shares of Steven Madden and gave the company a “buy” rating in a research note on Monday, July 30th. BidaskClub raised shares of Steven Madden from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 24th. Loop Capital set a $36.00 target price on shares of Steven Madden and gave the company a “hold” rating in a research note on Wednesday, August 8th. Buckingham Research cut their target price on shares of Steven Madden to $36.00 and set a “buy” rating for the company in a research note on Wednesday, October 17th. Finally, Wells Fargo & Co cut their target price on shares of Steven Madden from $50.00 to $30.00 and set a “market perform” rating for the company in a research note on Monday, October 22nd. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $37.52.
Shares of Steven Madden stock opened at $32.04 on Wednesday. Steven Madden, Ltd. has a fifty-two week low of $25.10 and a fifty-two week high of $39.30. The firm has a market capitalization of $2.84 billion, a price-to-earnings ratio of 21.50, a P/E/G ratio of 1.70 and a beta of 0.66.
Steven Madden (NASDAQ:SHOO) last issued its quarterly earnings results on Tuesday, October 30th. The textile maker reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.04. Steven Madden had a net margin of 8.79% and a return on equity of 18.05%. The firm had revenue of $458.48 million during the quarter, compared to the consensus estimate of $472.80 million. During the same period in the prior year, the firm earned $0.77 EPS. The business’s revenue was up 3.9% on a year-over-year basis. On average, equities research analysts predict that Steven Madden, Ltd. will post 1.79 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 31st. Stockholders of record on Friday, December 21st will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.75%. This is an increase from Steven Madden’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Thursday, December 20th. Steven Madden’s dividend payout ratio (DPR) is presently 35.57%.
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About Steven Madden
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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