Ceredex Value Advisors LLC Buys Shares of 299,000 Steven Madden, Ltd. $SHOO

Ceredex Value Advisors LLC purchased a new position in shares of Steven Madden, Ltd. (NASDAQ:SHOO) during the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 299,000 shares of the textile maker’s stock, valued at approximately $10,011,000.

A number of other hedge funds and other institutional investors have also modified their holdings of SHOO. EverSource Wealth Advisors LLC raised its position in shares of Steven Madden by 86.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,045 shares of the textile maker’s stock valued at $25,000 after buying an additional 485 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in Steven Madden during the third quarter worth approximately $31,000. 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 worth $72,000 after acquiring an additional 1,838 shares during the period. State of Wyoming grew its stake in Steven Madden by 117.3% in the 3rd quarter. State of Wyoming now owns 3,800 shares of the textile maker’s stock worth $127,000 after acquiring an additional 2,051 shares during the period. Finally, Nisa Investment Advisors LLC raised its holdings in Steven Madden by 172.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 5,523 shares of the textile maker’s stock valued at $185,000 after acquiring an additional 3,494 shares during the last quarter. 99.88% of the stock is currently owned by hedge funds and other institutional investors.

Steven Madden Trading Up 2.8%

Shares of SHOO opened at $34.56 on Wednesday. Steven Madden, Ltd. has a twelve month low of $19.05 and a twelve month high of $46.88. The firm has a market capitalization of $2.52 billion, a P/E ratio of 55.74 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. The stock’s fifty day simple moving average is $40.70 and its 200 day simple moving average is $37.93.

Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings results on Wednesday, February 25th. The textile maker reported $0.48 EPS for the quarter, topping the consensus estimate of $0.46 by $0.02. The company 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%.The firm’s revenue was up 29.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.55 earnings per share. On average, equities research analysts forecast that Steven Madden, Ltd. will post 2.66 earnings per share for the current year.

Steven Madden Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Wednesday, March 11th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Wednesday, March 11th. Steven Madden’s dividend payout ratio is 135.48%.

Wall Street Analyst Weigh In

SHOO has been the topic of a number of recent analyst reports. UBS Group reissued a “neutral” rating on shares of Steven Madden in a research note on Monday, February 23rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Steven Madden in a research note on Thursday, January 22nd. Williams Trading set a $48.00 target price on Steven Madden in a research report on Tuesday. BTIG Research reissued a “buy” rating and issued a $50.00 price target on shares of Steven Madden in a research note on Thursday, February 26th. Finally, Jefferies Financial Group downgraded shares of 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. Five research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $44.00.

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.