Schwab Charles Investment Management Inc. raised its stake in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 9.8% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 384,630 shares of the textile maker’s stock after purchasing an additional 34,309 shares during the period. Schwab Charles Investment Management Inc. owned 0.65% of Steven Madden worth $15,366,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. bought a new position in shares of Steven Madden during the 2nd quarter valued at about $127,000. Meadow Creek Investment Management LLC boosted its holdings in shares of Steven Madden by 17.5% during the 1st quarter. Meadow Creek Investment Management LLC now owns 3,388 shares of the textile maker’s stock valued at $131,000 after purchasing an additional 504 shares during the last quarter. Public Employees Retirement System of Ohio boosted its holdings in shares of Steven Madden by 9.7% during the 1st quarter. Public Employees Retirement System of Ohio now owns 4,575 shares of the textile maker’s stock valued at $176,000 after purchasing an additional 403 shares during the last quarter. IFP Advisors Inc boosted its holdings in shares of Steven Madden by 3,804.2% during the 2nd quarter. IFP Advisors Inc now owns 4,607 shares of the textile maker’s stock valued at $184,000 after purchasing an additional 4,489 shares during the last quarter. Finally, Ameritas Investment Partners Inc. bought a new position in shares of Steven Madden during the 1st quarter valued at about $205,000. 91.34% of the stock is owned by institutional investors and hedge funds.

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Shares of Steven Madden, Ltd. (SHOO) opened at 41.85 on Monday. The stock has a market capitalization of $2.48 billion, a PE ratio of 20.15 and a beta of 0.51. The stock’s 50 day moving average is $41.95 and its 200 day moving average is $39.28. Steven Madden, Ltd. has a 12 month low of $32.30 and a 12 month high of $43.80.

Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings results on Tuesday, August 1st. The textile maker reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.06. The firm had revenue of $374.15 million for the quarter, compared to analyst estimates of $355.22 million. Steven Madden had a net margin of 8.19% and a return on equity of 17.57%. Steven Madden’s quarterly revenue was up 15.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.42 earnings per share. Analysts anticipate that Steven Madden, Ltd. will post $2.25 earnings per share for the current fiscal year.

Several research analysts have commented on SHOO shares. B. Riley reissued a “buy” rating and set a $45.00 price objective on shares of Steven Madden in a report on Friday, July 28th. Piper Jaffray Companies reissued a “buy” rating and set a $44.00 price objective on shares of Steven Madden in a report on Wednesday, July 26th. Zacks Investment Research raised shares of Steven Madden from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a report on Tuesday, June 20th. BidaskClub raised shares of Steven Madden from a “hold” rating to a “buy” rating in a report on Wednesday, July 5th. Finally, Canaccord Genuity increased their price objective on shares of Steven Madden from $45.00 to $46.00 and gave the company a “buy” rating in a report on Monday, June 5th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $44.04.

Steven Madden Company 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.

Institutional Ownership by Quarter for Steven Madden (NASDAQ:SHOO)

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