Piermont Capital Management Inc. reduced its stake in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 14.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,403 shares of the textile maker’s stock after selling 1,400 shares during the quarter. Piermont Capital Management Inc.’s holdings in Steven Madden were worth $369,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also modified their holdings of the company. Wolverine Trading LLC boosted its position in Steven Madden by 311.2% during the 4th quarter. Wolverine Trading LLC now owns 4,523 shares of the textile maker’s stock valued at $211,000 after purchasing an additional 3,423 shares during the period. Xact Kapitalforvaltning AB acquired a new stake in shares of Steven Madden during the fourth quarter worth $248,000. Jefferies Group LLC acquired a new stake in shares of Steven Madden during the fourth quarter worth $261,000. Barings LLC acquired a new stake in shares of Steven Madden during the first quarter worth $634,000. Finally, HBK Investments L P acquired a new stake in shares of Steven Madden during the fourth quarter worth $738,000. Hedge funds and other institutional investors own 94.91% of the company’s stock.
In other news, insider Karla Frieders sold 4,000 shares of the company’s stock in a transaction dated Thursday, April 26th. The shares were sold at an average price of $48.08, for a total transaction of $192,320.00. Following the transaction, the insider now owns 88,280 shares in the company, valued at $4,244,502.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Peter Migliorini sold 1,000 shares of the company’s stock in a transaction dated Monday, June 11th. The stock was sold at an average price of $54.18, for a total transaction of $54,180.00. Following the completion of the sale, the director now owns 6,826 shares in the company, valued at approximately $369,832.68. The disclosure for this sale can be found here. In the last three months, insiders sold 149,000 shares of company stock worth $7,402,300. 1.77% of the stock is currently owned by insiders.
Steven Madden stock traded up $0.45 during midday trading on Thursday, reaching $53.90. 449,600 shares of the company’s stock were exchanged, compared to its average volume of 456,731. The stock has a market capitalization of $3.18 billion, a P/E ratio of 24.00, a PEG ratio of 1.89 and a beta of 0.46. Steven Madden, Ltd. has a 52 week low of $37.25 and a 52 week high of $55.50.
Steven Madden (NASDAQ:SHOO) last released its quarterly earnings results on Friday, April 20th. The textile maker reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.04. Steven Madden had a net margin of 8.06% and a return on equity of 16.75%. The company had revenue of $389.00 million during the quarter, compared to the consensus estimate of $379.67 million. During the same period in the previous year, the business earned $0.47 earnings per share. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. sell-side analysts anticipate that Steven Madden, Ltd. will post 2.7 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Tuesday, June 12th will be paid a $0.20 dividend. The ex-dividend date is Monday, June 11th. This represents a $0.80 annualized dividend and a dividend yield of 1.48%. Steven Madden’s dividend payout ratio is 35.71%.
SHOO has been the topic of a number of research analyst reports. Zacks Investment Research upgraded Steven Madden from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a report on Wednesday, May 2nd. BidaskClub upgraded Steven Madden from a “hold” rating to a “buy” rating in a research note on Saturday, April 7th. Wedbush reissued an “outperform” rating and set a $51.00 price objective on shares of Steven Madden in a research report on Friday, April 20th. B. Riley reissued a “buy” rating on shares of Steven Madden in a research report on Wednesday, February 28th. Finally, Canaccord Genuity upped their price target on Steven Madden from $54.00 to $59.00 and gave the company a “buy” rating in a report on Thursday, June 7th. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $51.27.
Steven Madden Profile
Steven Madden, Ltd. designs, sources, markets, and sells fashion-forward name brand and private label footwear for women, men, and children worldwide. Its Wholesale Footwear segment provides footwear under the Steve Madden Women's, Madden Girl, Steve Madden Men's, Madden, Madden NYC, Dolce Vita, DV by Dolce Vita, Mad Love, Steven by Steve Madden, Report, Superga, Betsey Johnson, Betseyville, Steve Madden Kids, FREEBIRD by Steven, Stevies, B Brian Atwood, Blondo, Kate Spade, and Avec Les Filles brands, as well as private label footwear.
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