Keybank National Association OH lifted its stake in Steven Madden, Ltd. (NASDAQ:SHOO) by 21.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 35,928 shares of the textile maker’s stock after buying an additional 6,325 shares during the period. Keybank National Association OH’s holdings in Steven Madden were worth $1,220,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its stake in Steven Madden by 50.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,470,104 shares of the textile maker’s stock worth $74,745,000 after purchasing an additional 828,499 shares during the last quarter. Geode Capital Management LLC lifted its stake in Steven Madden by 65.5% during the fourth quarter. Geode Capital Management LLC now owns 1,014,570 shares of the textile maker’s stock worth $30,700,000 after purchasing an additional 401,540 shares during the last quarter. Janus Henderson Group PLC bought a new stake in Steven Madden during the second quarter worth $12,004,000. Fort Washington Investment Advisors Inc. OH lifted its stake in Steven Madden by 262.5% during the first quarter. Fort Washington Investment Advisors Inc. OH now owns 435,000 shares of the textile maker’s stock worth $14,720,000 after purchasing an additional 315,000 shares during the last quarter. Finally, Lazard Asset Management LLC lifted its stake in Steven Madden by 16.4% during the first quarter. Lazard Asset Management LLC now owns 1,301,929 shares of the textile maker’s stock worth $44,057,000 after purchasing an additional 183,630 shares during the last quarter. Institutional investors and hedge funds own 97.20% of the company’s stock.
Several equities research analysts have weighed in on SHOO shares. Telsey Advisory Group restated a “market perform” rating and set a $36.00 target price (down from $38.00) on shares of Steven Madden in a research note on Thursday, June 6th. ValuEngine cut Steven Madden from a “hold” rating to a “sell” rating in a research note on Wednesday, May 15th. Piper Jaffray Companies downgraded shares of Steven Madden from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $38.00 to $32.00 in a report on Tuesday, May 14th. Citigroup set a $37.00 price target on shares of Steven Madden and gave the stock a “hold” rating in a report on Wednesday, July 31st. Finally, BidaskClub upgraded shares of Steven Madden from a “sell” rating to a “hold” rating in a report on Friday, July 19th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $35.80.
Shares of NASDAQ:SHOO traded up $0.77 during trading on Friday, hitting $30.14. 568,500 shares of the company were exchanged, compared to its average volume of 757,789. The business’s 50 day moving average is $32.44 and its 200-day moving average is $32.86. The company has a market capitalization of $2.49 billion, a P/E ratio of 16.47, a price-to-earnings-growth ratio of 1.76 and a beta of 0.80. Steven Madden, Ltd. has a 1-year low of $27.88 and a 1-year high of $39.30.
Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings results on Tuesday, July 30th. The textile maker reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.05. The company had revenue of $444.97 million during the quarter, compared to the consensus estimate of $420.40 million. Steven Madden had a net margin of 8.07% and a return on equity of 19.90%. The company’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.41 earnings per share. On average, equities research analysts expect that Steven Madden, Ltd. will post 1.85 EPS for the current year.
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, Report, Dolce Vita, DV by Dolce Vita, Mad Love, Steven by Steve Madden, Superga, Betsey Johnson, Betseyville, Steve Madden Kids, Stevies, Brian Atwood, Blondo, Kate Spade, and Anne Klein brands, as well as private label footwear.
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