Piedmont Investment Advisors LLC Invests $462,000 in Steven Madden, Ltd. (SHOO)
Piedmont Investment Advisors LLC bought a new stake in shares of Steven Madden, Ltd. (NASDAQ:SHOO) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 11,568 shares of the textile maker’s stock, valued at approximately $462,000.
Several other large investors also recently bought and sold shares of SHOO. BlackRock Inc. grew its holdings in shares of Steven Madden by 148,882.3% during the first quarter. BlackRock Inc. now owns 6,921,716 shares of the textile maker’s stock valued at $266,833,000 after purchasing an additional 6,917,070 shares during the last quarter. 1060 Capital LLC bought a new position in shares of Steven Madden during the second quarter valued at approximately $24,372,000. Wells Fargo & Company MN grew its holdings in shares of Steven Madden by 386.5% during the second quarter. Wells Fargo & Company MN now owns 698,957 shares of the textile maker’s stock valued at $27,924,000 after purchasing an additional 555,283 shares during the last quarter. Macquarie Group Ltd. grew its holdings in shares of Steven Madden by 16.2% during the second quarter. Macquarie Group Ltd. now owns 2,250,031 shares of the textile maker’s stock valued at $89,889,000 after purchasing an additional 314,205 shares during the last quarter. Finally, Teachers Advisors LLC grew its holdings in shares of Steven Madden by 92.0% during the first quarter. Teachers Advisors LLC now owns 557,535 shares of the textile maker’s stock valued at $21,493,000 after purchasing an additional 267,183 shares during the last quarter. 91.32% of the stock is owned by institutional investors.
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Steven Madden, Ltd. (SHOO) opened at 40.85 on Friday. The firm has a market capitalization of $2.42 billion, a P/E ratio of 19.67 and a beta of 0.51. Steven Madden, Ltd. has a 12 month low of $32.30 and a 12 month high of $43.80. The stock’s 50 day moving average price is $42.12 and its 200 day moving average price is $39.90.
Steven Madden (NASDAQ:SHOO) last issued its quarterly earnings results on Tuesday, August 1st. The textile maker reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.06. The business had revenue of $374.15 million during 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 revenue for the quarter was up 15.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.42 earnings per share. On average, analysts forecast that Steven Madden, Ltd. will post $2.25 earnings per share for the current year.
Several equities analysts have recently commented on SHOO shares. Piper Jaffray Companies reaffirmed a “buy” rating and set a $45.00 target price on shares of Steven Madden in a report on Thursday, August 3rd. B. Riley reaffirmed a “buy” rating and set a $47.00 target price on shares of Steven Madden in a report on Wednesday, August 2nd. BidaskClub raised Steven Madden from a “hold” rating to a “buy” rating in a report on Wednesday, July 5th. Canaccord Genuity set a $47.00 target price on Steven Madden and gave the company a “buy” rating in a report on Wednesday, August 2nd. Finally, Zacks Investment Research raised Steven Madden from a “hold” rating to a “buy” rating and set a $48.00 target price for the company in a report on Friday, August 18th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $43.96.
About Steven Madden
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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