Principal Financial Group Inc. Reduces Stock Holdings in Steven Madden, Ltd. $SHOO

Principal Financial Group Inc. reduced its position in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 25.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 353,332 shares of the textile maker’s stock after selling 118,293 shares during the period. Principal Financial Group Inc.’s holdings in Steven Madden were worth $11,985,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. AQR Capital Management LLC purchased a new stake in shares of Steven Madden in the 1st quarter valued at approximately $752,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Steven Madden by 3.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,919 shares of the textile maker’s stock valued at $1,143,000 after buying an additional 1,437 shares during the period. Millennium Management LLC raised its position in shares of Steven Madden by 1,170.4% during the 1st quarter. Millennium Management LLC now owns 617,049 shares of the textile maker’s stock valued at $16,438,000 after buying an additional 568,477 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Steven Madden by 5.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 202,270 shares of the textile maker’s stock valued at $5,388,000 after acquiring an additional 10,603 shares during the last quarter. Finally, Jane Street Group LLC lifted its holdings in Steven Madden by 273.1% in the first quarter. Jane Street Group LLC now owns 157,492 shares of the textile maker’s stock valued at $4,196,000 after acquiring an additional 115,284 shares during the last quarter. 99.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SHOO has been the subject of several analyst reports. Zacks Research upgraded Steven Madden from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 6th. Needham & Company LLC upped their price target on Steven Madden from $45.00 to $52.00 and gave the company a “buy” rating in a research note on Friday, June 12th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Steven Madden in a research note on Friday, July 17th. BTIG Research reiterated a “buy” rating and set a $50.00 price target on shares of Steven Madden in a report on Thursday, June 4th. Finally, Wall Street Zen raised Steven Madden from a “hold” rating to a “buy” rating in a research report on Saturday, June 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $45.12.

Steven Madden Price Performance

SHOO stock opened at $42.75 on Friday. The business’s fifty day moving average price is $42.64 and its 200 day moving average price is $39.94. Steven Madden, Ltd. has a 12-month low of $22.26 and a 12-month high of $47.10. The company has a current ratio of 2.23, a quick ratio of 1.42 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $3.12 billion, a PE ratio of 40.71 and a beta of 1.15.

Steven Madden (NASDAQ:SHOO) last announced its earnings results on Wednesday, May 6th. The textile maker reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.03. The company had revenue of $653.10 million during the quarter, compared to analysts’ expectations of $646.64 million. Steven Madden had a return on equity of 12.29% and a net margin of 2.89%.Steven Madden’s revenue for the quarter was up 18.0% on a year-over-year basis. During the same period last year, the business posted $0.60 EPS. Steven Madden has set its FY 2026 guidance at 2.000-2.100 EPS. On average, sell-side analysts anticipate that Steven Madden, Ltd. will post 2.1 EPS for the current year.

Steven Madden Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 19th. Stockholders of record on Monday, June 8th were paid a $0.21 dividend. The ex-dividend date of this dividend was Monday, June 8th. This represents a $0.84 annualized dividend and a dividend yield of 2.0%. Steven Madden’s dividend payout ratio (DPR) is presently 80.00%.

Insider Buying and Selling

In other Steven Madden news, insider Christina Ciglar sold 5,147 shares of the stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $44.74, for a total transaction of $230,276.78. Following the sale, the insider directly owned 35,200 shares in the company, valued at $1,574,848. This represents a 12.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Arian Simone Reed sold 648 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $39.97, for a total transaction of $25,900.56. Following the completion of the transaction, the director directly owned 8,057 shares of the company’s stock, valued at $322,038.29. This represents a 7.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 6,270 shares of company stock valued at $276,992 in the last 90 days. Company insiders own 2.21% of the company’s stock.

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.