Northern Trust Corp raised its holdings in Steven Madden, Ltd. (NASDAQ:SHOO) by 0.2% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 915,140 shares of the textile maker’s stock after buying an additional 1,668 shares during the period. Northern Trust Corp owned about 1.56% of Steven Madden worth $48,593,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in SHOO. JPMorgan Chase & Co. raised its stake in Steven Madden by 35.9% in the first quarter. JPMorgan Chase & Co. now owns 155,304 shares of the textile maker’s stock valued at $6,818,000 after buying an additional 41,002 shares during the period. Dimensional Fund Advisors LP raised its stake 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 buying an additional 6,574 shares during the period. Hsbc Holdings PLC raised its stake in Steven Madden by 106.9% in the first quarter. Hsbc Holdings PLC now owns 10,595 shares of the textile maker’s stock valued at $466,000 after buying an additional 5,473 shares during the period. Russell Investments Group Ltd. raised its stake in Steven Madden by 7.7% in the first quarter. Russell Investments Group Ltd. now owns 70,746 shares of the textile maker’s stock valued at $3,105,000 after buying an additional 5,082 shares during the period. Finally, Asset Management One Co. Ltd. bought a new stake in Steven Madden in the first quarter valued at approximately $254,000. Hedge funds and other institutional investors own 95.88% of the company’s stock.
In other Steven Madden news, COO Awadhesh K. Sinha sold 4,000 shares of the firm’s stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $57.50, for a total transaction of $230,000.00. Following the transaction, the chief operating officer now owns 57,845 shares in the company, valued at approximately $3,326,087.50. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Karla Frieders sold 7,000 shares of the firm’s 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 in the company, valued at approximately $4,282,679.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,500 shares of company stock worth $771,405. Corporate insiders own 1.77% of the company’s stock.
Shares of NASDAQ SHOO opened at $30.28 on Friday. The company has a market cap of $3.09 billion, a PE ratio of 13.52, a PEG ratio of 1.85 and a beta of 0.53. Steven Madden, Ltd. has a 1-year low of $24.83 and a 1-year high of $39.30.
Steven Madden (NASDAQ:SHOO) last announced its earnings results on Tuesday, July 31st. The textile maker reported $0.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.02. The company 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%. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.34 earnings per share. On average, research analysts expect that Steven Madden, Ltd. will post 2.68 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 28th. Shareholders of record on Tuesday, September 18th were paid a dividend of $0.1333 per share. The ex-dividend date of this dividend was Monday, September 17th. This represents a $0.53 dividend on an annualized basis and a yield of 1.76%. Steven Madden’s dividend payout ratio (DPR) is presently 35.71%.
Several analysts have issued reports on the company. ValuEngine lowered Steven Madden from a “hold” rating to a “sell” rating in a research note on Friday. BidaskClub lowered Steven Madden from a “sell” rating to a “strong sell” rating in a research note on Friday, October 5th. Buckingham Research increased their target price on Steven Madden from $36.00 to $41.33 and gave the stock a “buy” rating in a research note on Thursday, August 16th. Canaccord Genuity reiterated a “buy” rating and set a $41.33 target price on shares of Steven Madden in a research note on Monday, August 13th. Finally, Loop Capital set a $36.00 target price on Steven Madden and gave the stock a “hold” rating in a research note on Wednesday, August 8th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $36.39.
Steven Madden Company 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.
See Also: Book Value Per Share – BVPS
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