Steven Madden, Ltd. (NASDAQ:SHOO) Shares Acquired by Systematic Financial Management LP

Systematic Financial Management LP lifted its holdings in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 15.9% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 439,126 shares of the textile maker’s stock after buying an additional 60,276 shares during the quarter. Systematic Financial Management LP’s holdings in Steven Madden were worth $21,513,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Gladius Capital Management LP acquired a new stake in shares of Steven Madden during the third quarter worth about $36,000. Blue Trust Inc. raised its holdings in Steven Madden by 9,166.7% during the second quarter. Blue Trust Inc. now owns 834 shares of the textile maker’s stock worth $35,000 after purchasing an additional 825 shares in the last quarter. Exchange Traded Concepts LLC purchased a new position in Steven Madden during the third quarter worth about $59,000. GAMMA Investing LLC raised its holdings in Steven Madden by 80.6% during the third quarter. GAMMA Investing LLC now owns 1,329 shares of the textile maker’s stock worth $65,000 after purchasing an additional 593 shares in the last quarter. Finally, International Assets Investment Management LLC raised its holdings in Steven Madden by 4,800.0% during the third quarter. International Assets Investment Management LLC now owns 1,911 shares of the textile maker’s stock worth $94,000 after purchasing an additional 1,872 shares in the last quarter. Institutional investors and hedge funds own 99.88% of the company’s stock.

Analyst Ratings Changes

SHOO has been the subject of several analyst reports. StockNews.com cut shares of Steven Madden from a “buy” rating to a “hold” rating in a report on Sunday, November 24th. Telsey Advisory Group reissued a “market perform” rating and set a $50.00 price target on shares of Steven Madden in a report on Wednesday, November 13th. Citigroup increased their price target on shares of Steven Madden from $43.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Piper Sandler reaffirmed a “neutral” rating and issued a $45.00 target price on shares of Steven Madden in a report on Friday, August 23rd. Finally, Wedbush reaffirmed a “neutral” rating and issued a $41.00 target price on shares of Steven Madden in a report on Wednesday, August 7th. Eight research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Steven Madden presently has a consensus rating of “Hold” and an average target price of $45.43.

Steven Madden Price Performance

Shares of SHOO opened at $45.81 on Thursday. The firm has a 50 day simple moving average of $45.97 and a 200-day simple moving average of $44.61. Steven Madden, Ltd. has a 1-year low of $37.99 and a 1-year high of $50.01. The stock has a market cap of $3.31 billion, a price-to-earnings ratio of 19.49 and a beta of 1.07.

Steven Madden (NASDAQ:SHOO) last issued its quarterly earnings data on Thursday, November 7th. The textile maker reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.02. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. The business had revenue of $624.68 million during the quarter, compared to analysts’ expectations of $607.89 million. During the same period last year, the company posted $0.88 EPS. The company’s revenue was up 13.0% on a year-over-year basis. On average, equities analysts expect that Steven Madden, Ltd. will post 2.66 earnings per share for the current fiscal year.

Steven Madden Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a dividend of $0.21 per share. The ex-dividend date is Friday, December 13th. This represents a $0.84 dividend on an annualized basis and a yield of 1.83%. Steven Madden’s dividend payout ratio (DPR) is currently 35.74%.

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.