Dimensional Fund Advisors LP boosted its holdings in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 50.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 2,470,104 shares of the textile maker’s stock after purchasing an additional 828,499 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Steven Madden were worth $74,745,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also made changes to their positions in the company. Advisors Asset Management Inc. boosted its stake in Steven Madden by 61.6% during the 4th quarter. Advisors Asset Management Inc. now owns 832 shares of the textile maker’s stock valued at $25,000 after purchasing an additional 317 shares during the period. Resources Investment Advisors Inc. boosted its stake in Steven Madden by 50.0% during the 4th quarter. Resources Investment Advisors Inc. now owns 885 shares of the textile maker’s stock valued at $27,000 after purchasing an additional 295 shares during the period. Oregon Public Employees Retirement Fund bought a new stake in Steven Madden during the 4th quarter valued at approximately $30,000. Parkside Financial Bank & Trust boosted its stake in Steven Madden by 41.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,292 shares of the textile maker’s stock valued at $39,000 after purchasing an additional 378 shares during the period. Finally, Bessemer Group Inc. bought a new stake in Steven Madden during the 4th quarter valued at approximately $42,000. Hedge funds and other institutional investors own 99.40% of the company’s stock.
SHOO has been the subject of several recent analyst reports. B. Riley restated a “buy” rating and set a $38.00 target price on shares of Steven Madden in a research note on Monday, February 25th. Loop Capital increased their target price on Steven Madden to $38.00 and gave the company a “buy” rating in a research note on Tuesday, February 19th. Zacks Investment Research raised Steven Madden from a “hold” rating to a “buy” rating and set a $38.00 price target for the company in a report on Friday, February 15th. Canaccord Genuity set a $41.00 price target on Steven Madden and gave the company a “buy” rating in a report on Friday, April 26th. Finally, Piper Jaffray Companies set a $38.00 price target on Steven Madden and gave the company a “buy” rating in a report on Friday, April 26th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. Steven Madden currently has an average rating of “Hold” and a consensus price target of $35.33.
Steven Madden stock opened at $31.49 on Wednesday. The company has a market capitalization of $2.70 billion, a price-to-earnings ratio of 17.21, a PEG ratio of 1.91 and a beta of 0.60. Steven Madden, Ltd. has a 12 month low of $27.88 and a 12 month high of $39.30.
Steven Madden (NASDAQ:SHOO) last issued its earnings results on Thursday, April 25th. The textile maker reported $0.42 earnings per share (EPS) for the quarter, topping the Zacks’ 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 analysts’ expectations of $404.31 million. During the same period in the prior year, the firm posted $0.54 EPS. Steven Madden’s quarterly revenue was up 5.6% compared to the same quarter last year. Equities research analysts expect that Steven Madden, Ltd. will post 1.84 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Tuesday, June 18th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Monday, June 17th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.78%. Steven Madden’s payout ratio is presently 30.60%.
Steven Madden 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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