Icon Advisers Inc. Co. Takes $904,000 Position in Steven Madden, Ltd. $SHOO

Icon Advisers Inc. Co. bought a new position in shares of Steven Madden, Ltd. (NASDAQ:SHOO) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 27,000 shares of the textile maker’s stock, valued at approximately $904,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Steven Madden by 2.5% in the 3rd quarter. Vanguard Group Inc. now owns 8,283,806 shares of the textile maker’s stock worth $277,342,000 after acquiring an additional 200,013 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Steven Madden by 1.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,450,539 shares of the textile maker’s stock worth $82,046,000 after purchasing an additional 41,947 shares during the period. Invesco Ltd. boosted its holdings in shares of Steven Madden by 50.5% during the second quarter. Invesco Ltd. now owns 2,426,926 shares of the textile maker’s stock worth $58,198,000 after purchasing an additional 814,318 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Steven Madden by 1.9% during the second quarter. Geode Capital Management LLC now owns 1,790,038 shares of the textile maker’s stock worth $42,931,000 after purchasing an additional 32,604 shares during the last quarter. Finally, Neumeier Poma Investment Counsel LLC grew its position in shares of Steven Madden by 155.9% in the third quarter. Neumeier Poma Investment Counsel LLC now owns 955,010 shares of the textile maker’s stock valued at $31,974,000 after purchasing an additional 581,745 shares during the period. 99.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on SHOO shares. Telsey Advisory Group reiterated an “outperform” rating and issued a $50.00 target price on shares of Steven Madden in a research note on Thursday, February 26th. Needham & Company LLC decreased their price target on Steven Madden from $50.00 to $41.00 and set a “buy” rating on the stock in a research note on Wednesday, February 25th. Jefferies Financial Group cut Steven Madden from a “hold” rating to an “underperform” rating and set a $30.00 price target for the company. in a report on Thursday, February 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Steven Madden in a research note on Thursday, January 22nd. Finally, Zacks Research lowered shares of Steven Madden from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 5th. Five equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Steven Madden presently has an average rating of “Hold” and a consensus target price of $43.43.

Steven Madden Trading Down 2.5%

Shares of SHOO opened at $33.88 on Friday. The company has a market capitalization of $2.47 billion, a P/E ratio of 54.65 and a beta of 1.13. Steven Madden, Ltd. has a one year low of $19.05 and a one year high of $46.88. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.11 and a current ratio of 1.90. The stock has a 50-day moving average price of $41.03 and a 200 day moving average price of $37.69.

Steven Madden (NASDAQ:SHOO) last issued its quarterly earnings data on Wednesday, February 25th. The textile maker reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.02. Steven Madden had a return on equity of 13.60% and a net margin of 1.76%.The firm had revenue of $753.70 million during the quarter, compared to analyst estimates of $758.53 million. During the same quarter last year, the firm earned $0.55 EPS. Steven Madden’s quarterly revenue was up 29.6% on a year-over-year basis. Sell-side analysts forecast that Steven Madden, Ltd. will post 2.66 EPS for the current fiscal year.

Steven Madden Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Wednesday, March 11th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Wednesday, March 11th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.5%. Steven Madden’s dividend payout ratio (DPR) is presently 135.48%.

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.