Victory Capital Management Inc. boosted its position in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 2.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,710,023 shares of the textile maker’s stock after buying an additional 72,423 shares during the period. Victory Capital Management Inc.’s holdings in Steven Madden were worth $91,707,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in SHOO. BlackRock Inc. boosted its stake in Steven Madden by 50.1% during the fourth quarter. BlackRock Inc. now owns 11,790,955 shares of the textile maker’s stock valued at $356,795,000 after buying an additional 3,933,542 shares during the last quarter. Norges Bank bought a new stake in shares of Steven Madden in the 4th quarter valued at approximately $41,764,000. Macquarie Group Ltd. lifted its stake in shares of Steven Madden by 56.1% in the 4th quarter. Macquarie Group Ltd. now owns 3,600,261 shares of the textile maker’s stock valued at $108,949,000 after purchasing an additional 1,293,591 shares during the last quarter. FMR LLC lifted its stake in shares of Steven Madden by 54.3% in the 4th quarter. FMR LLC now owns 3,120,538 shares of the textile maker’s stock valued at $94,428,000 after purchasing an additional 1,097,757 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund bought a new stake in shares of Steven Madden in the 4th quarter valued at approximately $30,000. 99.86% of the stock is owned by institutional investors.
In related news, EVP Michael Paradise sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $35.99, for a total transaction of $71,980.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Rose Peabody Lynch sold 2,760 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $35.83, for a total value of $98,890.80. The disclosure for this sale can be found here. 1.96% of the stock is currently owned by company insiders.
Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings data on Thursday, April 25th. The textile maker reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.05. Steven Madden had a return on equity of 19.36% and a net margin of 8.06%. The business had revenue of $410.90 million during the quarter, compared to analyst estimates of $404.31 million. During the same period last year, the company earned $0.54 EPS. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. On average, sell-side analysts predict that Steven Madden, Ltd. will post 1.84 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Tuesday, June 18th will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date is Monday, June 17th. Steven Madden’s dividend payout ratio is currently 30.60%.
Several equities research analysts have recently issued reports on the company. B. Riley reaffirmed a “buy” rating on shares of Steven Madden in a research note on Friday, April 26th. BidaskClub raised Steven Madden from a “sell” rating to a “hold” rating in a research note on Wednesday, March 27th. Zacks Investment Research raised Steven Madden from a “sell” rating to a “hold” rating in a research note on Wednesday, April 24th. Canaccord Genuity set a $41.00 price objective on Steven Madden and gave the company a “buy” rating in a research note on Friday, April 26th. Finally, Loop Capital raised their price objective on Steven Madden to $38.00 and gave the company a “buy” rating in a research note on Tuesday, February 19th. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $35.93.
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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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