Russell Investments Group Ltd. lifted its position in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 7.7% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 70,746 shares of the textile maker’s stock after buying an additional 5,082 shares during the quarter. Russell Investments Group Ltd.’s holdings in Steven Madden were worth $3,105,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wolverine Trading LLC lifted its stake in shares of 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 buying an additional 3,423 shares in the last quarter. Xact Kapitalforvaltning AB purchased a new position in shares of Steven Madden during the 4th quarter valued at $248,000. Jefferies Group LLC purchased a new position in shares of Steven Madden during the 4th quarter valued at $261,000. Cim Investment Mangement Inc. lifted its stake in shares of Steven Madden by 68.2% during the 1st quarter. Cim Investment Mangement Inc. now owns 8,743 shares of the textile maker’s stock valued at $384,000 after buying an additional 3,546 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its stake in shares of Steven Madden by 106.9% during the 1st quarter. Hsbc Holdings PLC now owns 10,595 shares of the textile maker’s stock valued at $466,000 after buying an additional 5,473 shares in the last quarter. Institutional investors own 94.91% of the company’s stock.
In other news, Director Peter Migliorini sold 1,000 shares of the business’s stock in a transaction dated Monday, June 11th. The shares were sold at an average price of $54.18, for a total value of $54,180.00. Following the sale, the director now directly owns 6,826 shares in the company, valued at approximately $369,832.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Amelia Varela sold 100,000 shares of the business’s stock in a transaction dated Thursday, May 17th. The stock was sold at an average price of $50.69, for a total transaction of $5,069,000.00. Following the completion of the sale, the president now owns 208,084 shares in the company, valued at $10,547,777.96. The disclosure for this sale can be found here. Over the last quarter, insiders sold 116,000 shares of company stock worth $5,890,240. 1.77% of the stock is currently owned by insiders.
Shares of Steven Madden opened at $53.60 on Tuesday, according to MarketBeat. The firm has a market capitalization of $3.10 billion, a price-to-earnings ratio of 23.93, a P/E/G ratio of 1.84 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 announced its quarterly earnings results on Friday, April 20th. The textile maker reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.04. The company had revenue of $389.00 million for the quarter, compared to the consensus estimate of $379.67 million. Steven Madden had a net margin of 8.06% and a return on equity of 16.75%. Steven Madden’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.47 EPS. equities research analysts predict that Steven Madden, Ltd. will post 2.7 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, June 29th. Shareholders of record on Tuesday, June 12th were issued a $0.20 dividend. The ex-dividend date of this dividend was Monday, June 11th. This represents a $0.80 dividend on an annualized basis and a yield of 1.49%. Steven Madden’s dividend payout ratio is currently 35.71%.
A number of research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Steven Madden from a “hold” rating to a “buy” rating and set a $61.00 target price on the stock in a research note on Thursday, June 21st. Macquarie assumed coverage on shares of Steven Madden in a research note on Wednesday, June 27th. They set an “outperform” rating on the stock. Buckingham Research set a $54.00 target price on shares of Steven Madden and gave the company a “buy” rating in a research note on Tuesday, April 24th. B. Riley set a $55.00 target price on shares of Steven Madden and gave the company a “buy” rating in a research note on Monday, April 23rd. Finally, Citigroup restated a “buy” rating and set a $56.00 target price on shares of Steven Madden in a research note on Wednesday, April 18th. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $51.81.
About Steven Madden
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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