Steven Madden, Ltd. (SHOO) Holdings Cut by Kennedy Capital Management Inc.
Kennedy Capital Management Inc. reduced its stake in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 21.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 97,221 shares of the textile maker’s stock after selling 26,023 shares during the quarter. Kennedy Capital Management Inc. owned 0.18% of Steven Madden worth $3,884,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Elkfork Partners LLC raised its stake in Steven Madden by 17.5% during the first quarter. Elkfork Partners LLC now owns 2,662 shares of the textile maker’s stock worth $103,000 after acquiring an additional 396 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in Steven Madden during the second quarter worth $127,000. Meadow Creek Investment Management LLC raised its stake in Steven Madden by 17.5% during the first quarter. Meadow Creek Investment Management LLC now owns 3,388 shares of the textile maker’s stock worth $131,000 after acquiring an additional 504 shares in the last quarter. First Mercantile Trust Co. raised its stake in Steven Madden by 1.7% during the second quarter. First Mercantile Trust Co. now owns 3,570 shares of the textile maker’s stock worth $143,000 after acquiring an additional 60 shares in the last quarter. Finally, Public Employees Retirement System of Ohio raised its stake in Steven Madden by 9.7% during the first quarter. Public Employees Retirement System of Ohio now owns 4,575 shares of the textile maker’s stock worth $176,000 after acquiring an additional 403 shares in the last quarter. Hedge funds and other institutional investors own 91.36% of the company’s stock.
In other news, insider Karla Frieders sold 5,000 shares of the business’s stock in a transaction on Monday, June 19th. The stock was sold at an average price of $38.61, for a total transaction of $193,050.00. Following the completion of the transaction, the insider now owns 83,216 shares of the company’s stock, valued at approximately $3,212,969.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.06% of the stock is currently owned by insiders.
Several research analysts have issued reports on the company. B. Riley reiterated a “buy” rating and set a $45.00 price objective on shares of Steven Madden in a research note on Friday, July 28th. Zacks Investment Research upgraded Steven Madden from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a research note on Tuesday, June 20th. Canaccord Genuity set a $45.00 price objective on Steven Madden and gave the stock a “buy” rating in a research note on Friday, May 26th. Piper Jaffray Companies set a $41.00 price objective on Steven Madden and gave the stock a “buy” rating in a research note on Wednesday, June 14th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $39.00 price objective (up from $37.00) on shares of Steven Madden in a research note on Wednesday, August 2nd. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $43.96.
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Shares of Steven Madden, Ltd. (NASDAQ:SHOO) opened at 42.35 on Friday. The stock has a 50 day moving average price of $41.87 and a 200-day moving average price of $39.18. The firm has a market capitalization of $2.51 billion, a price-to-earnings ratio of 20.39 and a beta of 0.51. Steven Madden, Ltd. has a 52 week low of $32.30 and a 52 week high of $43.80.
Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings results on Tuesday, August 1st. The textile maker reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.06. Steven Madden had a return on equity of 17.57% and a net margin of 8.19%. The company had revenue of $374.15 million during the quarter, compared to analysts’ expectations of $355.22 million. During the same quarter in the previous year, the firm earned $0.42 EPS. Steven Madden’s revenue was up 15.0% on a year-over-year basis. On average, equities research analysts forecast that Steven Madden, Ltd. will post $2.25 earnings per share for the current year.
Steven Madden Profile
Steven Madden, Ltd. and its subsidiaries design, source, market and sell name brand and private label footwear for women, men and children, and name brand and private label fashion handbags and accessories. The Company operates through five segments: Wholesale Footwear, Wholesale Accessories, Retail, First Cost and Licensing.
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