Steven Madden, Ltd. (NASDAQ:SHOO) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC boosted its holdings in Steven Madden, Ltd. (NASDAQ:SHOO) by 3.0% during the third quarter, HoldingsChannel reports. The fund owned 1,710,492 shares of the textile maker’s stock after buying an additional 49,075 shares during the period. Geode Capital Management LLC’s holdings in Steven Madden were worth $83,812,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Barclays PLC raised its position in Steven Madden by 286.9% in the third quarter. Barclays PLC now owns 139,206 shares of the textile maker’s stock valued at $6,819,000 after purchasing an additional 103,226 shares during the period. Weiss Asset Management LP acquired a new stake in shares of Steven Madden during the 3rd quarter worth about $12,558,000. State Street Corp raised its holdings in Steven Madden by 1.7% in the 3rd quarter. State Street Corp now owns 2,756,075 shares of the textile maker’s stock valued at $135,020,000 after buying an additional 47,017 shares during the period. Systematic Financial Management LP lifted its position in Steven Madden by 15.9% in the third quarter. Systematic Financial Management LP now owns 439,126 shares of the textile maker’s stock valued at $21,513,000 after buying an additional 60,276 shares during the last quarter. Finally, Petrus Trust Company LTA boosted its stake in Steven Madden by 95.4% during the third quarter. Petrus Trust Company LTA now owns 14,058 shares of the textile maker’s stock worth $689,000 after buying an additional 6,864 shares during the period. 99.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SHOO has been the topic of a number of research analyst reports. StockNews.com raised shares of Steven Madden from a “hold” rating to a “buy” rating in a research note on Thursday. Citigroup boosted their target price on Steven Madden from $43.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Telsey Advisory Group restated a “market perform” rating and set a $50.00 price target on shares of Steven Madden in a research report on Wednesday, November 13th. Needham & Company LLC reiterated a “hold” rating on shares of Steven Madden in a report on Thursday, December 5th. Finally, Piper Sandler restated a “neutral” rating and set a $45.00 target price on shares of Steven Madden in a report on Friday, August 23rd. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $45.43.

Steven Madden Trading Up 0.4 %

NASDAQ:SHOO opened at $42.74 on Friday. Steven Madden, Ltd. has a 12-month low of $37.99 and a 12-month high of $50.01. The firm has a market cap of $3.09 billion, a PE ratio of 18.19 and a beta of 1.07. The stock has a fifty day moving average price of $44.93 and a 200 day moving average price of $44.67.

Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings data on Thursday, November 7th. The textile maker reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.02. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. The business had revenue of $624.68 million during the quarter, compared to analysts’ expectations of $607.89 million. During the same quarter last year, the business posted $0.88 EPS. The business’s quarterly revenue was up 13.0% compared to the same quarter last year. Equities analysts forecast that Steven Madden, Ltd. will post 2.66 EPS for the current year.

Steven Madden Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend is Friday, December 13th. Steven Madden’s dividend payout ratio is presently 35.74%.

Steven Madden Profile

Steven Madden, Ltd. designs, sources, and markets fashion-forward branded and private label footwear, accessories, and apparel in the United States and internationally. It operates through Wholesale Footwear, Wholesale Accessories/Apparel, Direct-to- Consumer, and Licensing segments. The Wholesale Footwear segment designs, sources, and markets various products, including dress shoes, boots, booties, fashion sneakers, sandals, and casual shoes under the Steve Madden, Dolce Vita, Betsey Johnson, Blondo, GREATS, and Anne Klein brands.