Sterling Capital Management LLC Buys 37,724 Shares of Steven Madden, Ltd. (SHOO)
Sterling Capital Management LLC boosted its holdings in Steven Madden, Ltd. (NASDAQ:SHOO) by 125.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 67,897 shares of the textile maker’s stock after acquiring an additional 37,724 shares during the period. Sterling Capital Management LLC’s holdings in Steven Madden were worth $3,605,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. lifted its holdings in Steven Madden by 6.5% in the second quarter. BlackRock Inc. now owns 7,499,094 shares of the textile maker’s stock valued at $398,201,000 after acquiring an additional 459,305 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Steven Madden by 131.6% in the second quarter. Victory Capital Management Inc. now owns 1,949,545 shares of the textile maker’s stock valued at $103,520,000 after acquiring an additional 1,107,668 shares during the last quarter. Eagle Asset Management Inc. lifted its holdings in Steven Madden by 2.8% in the second quarter. Eagle Asset Management Inc. now owns 1,834,111 shares of the textile maker’s stock valued at $97,391,000 after acquiring an additional 50,399 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Steven Madden by 0.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,723,829 shares of the textile maker’s stock valued at $75,676,000 after acquiring an additional 6,574 shares during the last quarter. Finally, Jennison Associates LLC lifted its holdings in Steven Madden by 35.7% in the second quarter. Jennison Associates LLC now owns 1,311,602 shares of the textile maker’s stock valued at $69,646,000 after acquiring an additional 345,001 shares during the last quarter. Hedge funds and other institutional investors own 95.89% of the company’s stock.
A number of analysts have issued reports on the company. Zacks Investment Research lowered Steven Madden from a “hold” rating to a “sell” rating in a research report on Monday, July 23rd. Loop Capital initiated coverage on Steven Madden in a research report on Monday, June 4th. They issued a “hold” rating and a $49.00 target price on the stock. BidaskClub raised Steven Madden from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, July 24th. Telsey Advisory Group upped their price objective on Steven Madden from $55.00 to $61.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 6th. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $62.00 price objective on shares of Steven Madden in a research report on Monday, August 13th. Six 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 has an average rating of “Buy” and an average target price of $54.58.
Steven Madden (NASDAQ:SHOO) last posted its earnings results on Tuesday, July 31st. The textile maker reported $0.61 EPS for the quarter, beating the consensus estimate of $0.59 by $0.02. The firm had revenue of $395.80 million for the quarter, compared to analyst estimates of $390.57 million. Steven Madden had a return on equity of 17.01% and a net margin of 8.17%. Steven Madden’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.51 earnings per share. equities analysts expect that Steven Madden, Ltd. will post 2.68 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Tuesday, September 18th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend is Monday, September 17th. Steven Madden’s dividend payout ratio (DPR) is presently 35.71%.
In related news, insider Karla Frieders sold 7,000 shares of the stock in a transaction on Monday, September 10th. The stock was sold at an average price of $56.89, for a total value of $398,230.00. Following the transaction, the insider now owns 75,280 shares of the company’s stock, valued at $4,282,679.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Awadhesh K. Sinha sold 4,000 shares of the stock in a transaction on Tuesday, August 14th. The shares were sold at an average price of $57.50, for a total value of $230,000.00. Following the completion of the transaction, the chief operating officer now directly owns 57,845 shares in the company, valued at approximately $3,326,087.50. The disclosure for this sale can be found here. Corporate insiders own 1.77% of the company’s stock.
Steven Madden Profile
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, Dolce Vita, DV by Dolce Vita, Mad Love, Steven by Steve Madden, Report, Superga, Betsey Johnson, Betseyville, Steve Madden Kids, FREEBIRD by Steven, Stevies, B Brian Atwood, Blondo, Kate Spade, and Avec Les Filles brands, as well as private label footwear.
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