Steven Madden, Ltd. $SHOO Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. trimmed its position in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 6.0% during the third quarter, Holdings Channel reports. The firm owned 1,688,124 shares of the textile maker’s stock after selling 108,539 shares during the quarter. Victory Capital Management Inc.’s holdings in Steven Madden were worth $56,518,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. SBI Securities Co. Ltd. acquired a new position in shares of Steven Madden during the 3rd quarter worth $31,000. EverSource Wealth Advisors LLC grew its stake in Steven Madden by 86.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,045 shares of the textile maker’s stock valued at $25,000 after acquiring an additional 485 shares during the last quarter. Parkside Financial Bank & Trust grew its stake in Steven Madden by 616.8% in the 3rd quarter. Parkside Financial Bank & Trust now owns 2,136 shares of the textile maker’s stock valued at $72,000 after acquiring an additional 1,838 shares during the last quarter. State of Wyoming increased its holdings in Steven Madden by 117.3% during the 3rd quarter. State of Wyoming now owns 3,800 shares of the textile maker’s stock valued at $127,000 after acquiring an additional 2,051 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its position in Steven Madden by 172.2% during the third quarter. Nisa Investment Advisors LLC now owns 5,523 shares of the textile maker’s stock worth $185,000 after acquiring an additional 3,494 shares during the last quarter. Institutional investors and hedge funds own 99.88% of the company’s stock.

Analysts Set New Price Targets

SHOO has been the topic of several recent research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Steven Madden in a report on Thursday, January 22nd. Telsey Advisory Group restated an “outperform” rating and set a $50.00 price objective on shares of Steven Madden in a research report on Thursday, February 26th. BTIG Research reaffirmed a “buy” rating and issued a $50.00 target price on shares of Steven Madden in a research note on Thursday, February 26th. Needham & Company LLC lowered their target price on Steven Madden from $50.00 to $41.00 and set a “buy” rating on the stock in a report on Wednesday, February 25th. Finally, UBS Group reiterated a “neutral” rating on shares of Steven Madden in a report on Monday, February 23rd. Five analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $43.43.

Steven Madden Price Performance

Steven Madden stock opened at $33.88 on Friday. The stock 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 12-month low of $19.05 and a 12-month high of $46.88. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.90 and a quick ratio of 1.11. The firm’s 50-day moving average is $41.03 and its two-hundred day moving average is $37.69.

Steven Madden (NASDAQ:SHOO) last posted 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. The business had revenue of $753.70 million during the quarter, compared to analyst estimates of $758.53 million. Steven Madden had a net margin of 1.76% and a return on equity of 13.60%. The company’s revenue was up 29.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.55 earnings per share. Equities analysts predict that Steven Madden, Ltd. will post 2.66 earnings per share for the current year.

Steven Madden Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Wednesday, March 11th will be issued a $0.21 dividend. The ex-dividend date is Wednesday, March 11th. This represents a $0.84 annualized dividend and a yield of 2.5%. Steven Madden’s payout ratio is 135.48%.

Steven Madden 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.