Steven Madden, Ltd. (NASDAQ:SHOO) Stake Reduced by Royce & Associates LP

Royce & Associates LP trimmed its holdings in Steven Madden, Ltd. (NASDAQ:SHOO) by 22.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 210,921 shares of the textile maker’s stock after selling 61,857 shares during the quarter. Royce & Associates LP owned 0.29% of Steven Madden worth $10,333,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Capital Research Global Investors grew its position in Steven Madden by 8.6% in the first quarter. Capital Research Global Investors now owns 1,856,001 shares of the textile maker’s stock worth $78,472,000 after buying an additional 146,324 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Steven Madden by 0.6% during the second quarter. Bank of New York Mellon Corp now owns 873,682 shares of the textile maker’s stock worth $36,957,000 after purchasing an additional 5,451 shares during the period. abrdn plc lifted its holdings in shares of Steven Madden by 2.7% during the third quarter. abrdn plc now owns 558,015 shares of the textile maker’s stock valued at $27,242,000 after purchasing an additional 14,841 shares during the last quarter. Fort Washington Investment Advisors Inc. OH boosted its position in shares of Steven Madden by 10.1% in the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 501,457 shares of the textile maker’s stock valued at $21,212,000 after purchasing an additional 45,910 shares during the period. Finally, Leeward Investments LLC MA increased its stake in Steven Madden by 5.6% in the 2nd quarter. Leeward Investments LLC MA now owns 312,740 shares of the textile maker’s stock worth $13,229,000 after purchasing an additional 16,529 shares in the last quarter. Institutional investors own 99.88% of the company’s stock.

Steven Madden Price Performance

Shares of NASDAQ SHOO opened at $43.23 on Friday. Steven Madden, Ltd. has a one year low of $35.64 and a one year high of $50.01. The business’s 50-day moving average price is $46.43 and its two-hundred day moving average price is $44.32. The company has a market capitalization of $3.12 billion, a P/E ratio of 18.40 and a beta of 1.08.

Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings results on Thursday, November 7th. The textile maker reported $0.91 EPS for the quarter, beating the consensus estimate of $0.89 by $0.02. The business had revenue of $624.68 million during the quarter, compared to analysts’ expectations of $607.89 million. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. The firm’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.88 EPS. On average, equities analysts anticipate that Steven Madden, Ltd. will post 2.65 EPS for the current year.

Steven Madden Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date is Friday, December 13th. Steven Madden’s dividend payout ratio is presently 35.74%.

Wall Street Analysts Forecast Growth

SHOO has been the subject of a number of analyst reports. Wedbush reaffirmed a “neutral” rating and set a $41.00 price objective on shares of Steven Madden in a research note on Wednesday, August 7th. Piper Sandler reaffirmed a “neutral” rating and issued a $45.00 price objective on shares of Steven Madden in a research note on Friday, August 23rd. StockNews.com raised shares of Steven Madden from a “hold” rating to a “buy” rating in a research note on Saturday. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $50.00 target price on shares of Steven Madden in a research report on Wednesday. Finally, Citigroup upped their price target on Steven Madden from $43.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $45.43.

Steven Madden Company Profile

Steven Madden, Ltd. designs, sources, and markets fashion-forward branded and private label footwear, accessories, and apparel in the United States and internationally. It operates through Wholesale Footwear, Wholesale Accessories/Apparel, Direct-to- Consumer, and Licensing segments. The Wholesale Footwear segment designs, sources, and markets various products, including dress shoes, boots, booties, fashion sneakers, sandals, and casual shoes under the Steve Madden, Dolce Vita, Betsey Johnson, Blondo, GREATS, and Anne Klein brands.