Segall Bryant & Hamill LLC Sells 280,435 Shares of Steven Madden, Ltd. $SHOO

Segall Bryant & Hamill LLC lowered its position in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 41.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 399,582 shares of the textile maker’s stock after selling 280,435 shares during the quarter. Segall Bryant & Hamill LLC’s holdings in Steven Madden were worth $13,378,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of 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 buying an additional 200,013 shares during the period. Invesco Ltd. lifted its position in Steven Madden by 50.5% during the 2nd 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 period. Geode Capital Management LLC boosted its stake in 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 acquiring an additional 32,604 shares in the last quarter. Neumeier Poma Investment Counsel LLC grew its holdings in 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 worth $31,974,000 after purchasing an additional 581,745 shares during the period. Finally, Bank of America Corp DE grew its holdings in Steven Madden by 19.0% in the second quarter. Bank of America Corp DE now owns 836,496 shares of the textile maker’s stock worth $20,059,000 after purchasing an additional 133,466 shares during the period. Institutional investors own 99.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SHOO. BTIG Research reiterated a “buy” rating and set a $50.00 target price on shares of Steven Madden in a report on Thursday, February 26th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $50.00 price objective on shares of Steven Madden in a research report on Thursday, February 26th. Jefferies Financial Group cut Steven Madden from a “hold” rating to an “underperform” rating and set a $30.00 price objective for the company. in a research note on Thursday, February 5th. Zacks Research downgraded Steven Madden from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 5th. Finally, Piper Sandler increased their target price on Steven Madden from $40.00 to $50.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. Five analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $43.43.

Steven Madden Stock Up 0.7%

SHOO stock opened at $35.86 on Wednesday. The stock has a market capitalization of $2.61 billion, a P/E ratio of 57.84 and a beta of 1.13. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.90 and a quick ratio of 1.11. Steven Madden, Ltd. has a 1-year low of $19.05 and a 1-year high of $46.88. The business has a fifty day moving average price of $41.51 and a 200-day moving average price of $37.67.

Steven Madden (NASDAQ:SHOO) last released its quarterly earnings data on Wednesday, February 25th. The textile maker reported $0.48 EPS for the quarter, beating the consensus estimate of $0.46 by $0.02. Steven Madden had a return on equity of 13.60% and a net margin of 1.76%.The company had revenue of $753.70 million for the quarter, compared to analysts’ expectations of $758.53 million. During the same period last year, the firm posted $0.55 earnings per share. Steven Madden’s revenue was up 29.6% compared to the same quarter last year. Equities analysts forecast that Steven Madden, Ltd. will post 2.66 earnings per share 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 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 2.3%. Steven Madden’s payout ratio is currently 135.48%.

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.