Capital Research Global Investors Has $91.08 Million Stake in Steven Madden, Ltd. $SHOO

Capital Research Global Investors lifted its stake in Steven Madden, Ltd. (NASDAQ:SHOO) by 14.0% during the third quarter, Holdings Channel reports. The fund owned 2,720,354 shares of the textile maker’s stock after acquiring an additional 334,058 shares during the quarter. Capital Research Global Investors’ holdings in Steven Madden were worth $91,077,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SHOO. Invesco Ltd. boosted its position in 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 period. Neumeier Poma Investment Counsel LLC raised 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. Millennium Management LLC lifted its stake in shares of Steven Madden by 1,170.4% in the first quarter. Millennium Management LLC now owns 617,049 shares of the textile maker’s stock worth $16,438,000 after buying an additional 568,477 shares during the last quarter. Cramer Rosenthal Mcglynn LLC boosted its holdings in shares of Steven Madden by 254.7% during the 3rd quarter. Cramer Rosenthal Mcglynn LLC now owns 607,476 shares of the textile maker’s stock worth $20,338,000 after buying an additional 436,197 shares during the period. Finally, Franklin Resources Inc. boosted its holdings in shares of Steven Madden by 102.4% during the 2nd quarter. Franklin Resources Inc. now owns 770,548 shares of the textile maker’s stock worth $18,478,000 after buying an additional 389,878 shares during the period. 99.88% of the stock is currently owned by institutional investors and hedge funds.

Steven Madden Price Performance

Shares of NASDAQ:SHOO opened at $34.04 on Thursday. The firm has a market capitalization of $2.48 billion, a PE ratio of 54.90 and a beta of 1.13. The company has a current ratio of 1.90, a quick ratio of 1.11 and a debt-to-equity ratio of 0.26. Steven Madden, Ltd. has a 1-year low of $19.05 and a 1-year high of $46.88. The business’s 50 day moving average is $40.55 and its 200-day moving average is $37.90.

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

Steven Madden Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Wednesday, March 11th will be paid a $0.21 dividend. The ex-dividend date 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 is currently 135.48%.

Wall Street Analyst Weigh In

Several research analysts recently commented on SHOO shares. UBS Group reiterated a “neutral” rating on shares of Steven Madden in a report on Monday, February 23rd. Zacks Research cut shares of Steven Madden from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 5th. Jefferies Financial Group downgraded Steven Madden from a “hold” rating to an “underperform” rating and set a $30.00 price target on the stock. in a research report on Thursday, February 5th. Williams Trading set a $48.00 price objective on Steven Madden in a research note on Tuesday. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $50.00 price objective on shares of Steven Madden in a research report on Thursday, February 26th. Five analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $44.00.

Steven Madden Company Profile

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.