Geode Capital Management LLC Decreases Position in Steven Madden, Ltd. $SHOO

Geode Capital Management LLC cut its stake in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 2.8% during the fourth quarter, HoldingsChannel reports. The firm owned 1,777,734 shares of the textile maker’s stock after selling 51,571 shares during the quarter. Geode Capital Management LLC’s holdings in Steven Madden were worth $74,037,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SHOO. Scopus Asset Management L.P. purchased a new stake in Steven Madden during the third quarter valued at approximately $36,451,000. Boston Partners purchased a new stake in Steven Madden during the third quarter valued at approximately $33,319,000. Invesco Ltd. raised its position in Steven Madden by 50.5% during the second quarter. Invesco Ltd. now owns 2,426,926 shares of the textile maker’s stock valued at $58,198,000 after purchasing an additional 814,318 shares during the period. Neumeier Poma Investment Counsel LLC raised its position in Steven Madden by 155.9% during the third quarter. Neumeier Poma Investment Counsel LLC now owns 955,010 shares of the textile maker’s stock valued at $31,974,000 after purchasing an additional 581,745 shares during the period. Finally, Millennium Management LLC raised its position in Steven Madden by 1,170.4% during the first quarter. Millennium Management LLC now owns 617,049 shares of the textile maker’s stock valued at $16,438,000 after purchasing an additional 568,477 shares during the period. 99.88% of the stock is currently owned by hedge funds and other institutional investors.

Steven Madden Trading Up 2.9%

SHOO opened at $45.31 on Tuesday. The stock’s fifty day moving average is $39.10 and its two-hundred day moving average is $39.85. The company has a market capitalization of $3.31 billion, a P/E ratio of 43.15 and a beta of 1.15. Steven Madden, Ltd. has a 52 week low of $22.26 and a 52 week high of $46.88. The company has a quick ratio of 1.42, a current ratio of 2.23 and a debt-to-equity ratio of 0.30.

Steven Madden (NASDAQ:SHOO) last released its quarterly earnings data on Wednesday, May 6th. The textile maker reported $0.45 EPS for the quarter, topping the consensus estimate of $0.42 by $0.03. The company had revenue of $653.10 million for the quarter, compared to the consensus estimate of $646.64 million. Steven Madden had a return on equity of 12.29% and a net margin of 2.89%.Steven Madden’s quarterly revenue 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. Analysts forecast that Steven Madden, Ltd. will post 2.09 earnings per share for the current year.

Steven Madden Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 19th. Shareholders of record on Monday, June 8th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Monday, June 8th. Steven Madden’s dividend payout ratio (DPR) is 80.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Wall Street Zen upgraded Steven Madden from a “hold” rating to a “buy” rating in a research report on Saturday. UBS Group reiterated a “neutral” rating and issued a $40.00 price target (up from $38.00) on shares of Steven Madden in a report on Monday, April 27th. Williams Trading set a $48.00 price target on Steven Madden in a report on Tuesday, March 10th. Needham & Company LLC increased their price target on Steven Madden from $41.00 to $42.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Finally, Zacks Research upgraded Steven Madden from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 8th. Five equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $43.88.

Insider Transactions at Steven Madden

In other Steven Madden news, Director Arian Simone Reed sold 648 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $39.97, for a total transaction of $25,900.56. Following the sale, the director owned 8,057 shares of the company’s stock, valued at approximately $322,038.29. This trade represents a 7.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders sold 4,723 shares of company stock worth $167,099. 2.21% of the stock is currently owned by company insiders.

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.