Federated Hermes Inc. Has $1.83 Million Holdings in Steven Madden, Ltd. $SHOO

Federated Hermes Inc. lessened its holdings in Steven Madden, Ltd. (NASDAQ:SHOO) by 30.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 54,716 shares of the textile maker’s stock after selling 24,086 shares during the quarter. Federated Hermes Inc.’s holdings in Steven Madden were worth $1,832,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Invesco Ltd. boosted its stake in Steven Madden by 50.5% in the second quarter. Invesco Ltd. now owns 2,426,926 shares of the textile maker’s stock valued at $58,198,000 after acquiring an additional 814,318 shares during the last quarter. Millennium Management LLC raised its position in shares of Steven Madden by 1,170.4% during the 1st quarter. Millennium Management LLC now owns 617,049 shares of the textile maker’s stock valued at $16,438,000 after acquiring an additional 568,477 shares during the last quarter. Nixon Capital LLC lifted its stake in shares of Steven Madden by 303.5% in the 2nd quarter. Nixon Capital LLC now owns 708,466 shares of the textile maker’s stock valued at $16,989,000 after purchasing an additional 532,870 shares during the period. Franklin Resources Inc. boosted its position in shares of Steven Madden by 102.4% in the 2nd quarter. Franklin Resources Inc. now owns 770,548 shares of the textile maker’s stock worth $18,478,000 after purchasing an additional 389,878 shares during the last quarter. Finally, CX Institutional grew its stake in shares of Steven Madden by 912.7% during the third quarter. CX Institutional now owns 324,218 shares of the textile maker’s stock worth $10,855,000 after purchasing an additional 292,204 shares during the period. 99.88% of the stock is owned by institutional investors.

Steven Madden Price Performance

Shares of NASDAQ SHOO opened at $38.76 on Thursday. The firm has a market cap of $2.82 billion, a PE ratio of 49.06 and a beta of 1.11. The company has a current ratio of 1.91, a quick ratio of 1.08 and a debt-to-equity ratio of 0.33. Steven Madden, Ltd. has a 1-year low of $19.05 and a 1-year high of $46.88. The company has a fifty day moving average price of $43.68 and a 200 day moving average price of $36.04.

Steven Madden (NASDAQ:SHOO) last released its quarterly earnings results on Wednesday, November 5th. The textile maker reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.01). The firm had revenue of $667.88 million during the quarter, compared to analyst estimates of $697.89 million. Steven Madden had a net margin of 2.38% and a return on equity of 14.28%. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.91 EPS. Research analysts predict that Steven Madden, Ltd. will post 2.66 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on SHOO. Weiss Ratings restated a “hold (c)” rating on shares of Steven Madden in a report on Thursday, January 22nd. Zacks Research upgraded shares of Steven Madden from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 6th. Citigroup reaffirmed a “buy” rating and issued a $41.00 target price (up previously from $32.00) on shares of Steven Madden in a research note on Friday, October 17th. BTIG Research reissued a “buy” rating and set a $50.00 price target (up from $43.00) on shares of Steven Madden in a research report on Thursday, December 4th. Finally, Needham & Company LLC restated a “buy” rating and issued a $50.00 price objective on shares of Steven Madden in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Steven Madden presently has an average rating of “Moderate Buy” and a consensus price target of $45.57.

About Steven Madden

Steven Madden, Inc (NASDAQ: SHOO) is a New York–based designer and marketer of fashion footwear, handbags and accessories. The company’s product portfolio spans a range of contemporary and lifestyle brands for women, men and children, including its core Steve Madden label as well as the Madden Girl and Dolce Vita brands. In addition to footwear, the company licenses its trademarks for use on apparel, eyewear and other fashion accessories.

Steven Madden distributes its products through multiple channels, including wholesale partners, e-commerce platforms and its own brick-and-mortar retail stores.