Janus Henderson Group PLC Sells 312,791 Shares of Steven Madden, Ltd. (NASDAQ:SHOO)

Janus Henderson Group PLC trimmed its stake in Steven Madden, Ltd. (NASDAQ:SHOO) by 31.8% during the third quarter, HoldingsChannel.com reports. The fund owned 670,241 shares of the textile maker’s stock after selling 312,791 shares during the quarter. Janus Henderson Group PLC’s holdings in Steven Madden were worth $32,835,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of SHOO. Landscape Capital Management L.L.C. bought a new stake in shares of Steven Madden in the 3rd quarter worth about $2,614,000. Nicholas Investment Partners LP acquired a new stake in shares of Steven Madden in the second quarter valued at $4,863,000. Vest Financial LLC bought a new position in shares of Steven Madden in the second quarter valued at about $1,074,000. Blue Trust Inc. lifted its position in Steven Madden by 94.1% during the 3rd quarter. Blue Trust Inc. now owns 1,619 shares of the textile maker’s stock worth $79,000 after buying an additional 785 shares in the last quarter. Finally, Harbor Capital Advisors Inc. grew its holdings in Steven Madden by 149.8% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 122,005 shares of the textile maker’s stock worth $5,977,000 after acquiring an additional 73,165 shares during the last quarter. 99.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SHOO. Telsey Advisory Group reiterated a “market perform” rating and set a $50.00 target price on shares of Steven Madden in a research report on Wednesday, November 13th. Needham & Company LLC reaffirmed a “hold” rating on shares of Steven Madden in a report on Thursday. Citigroup boosted their price objective on Steven Madden from $43.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Piper Sandler restated a “neutral” rating and issued a $45.00 price objective on shares of Steven Madden in a report on Friday, August 23rd. Finally, StockNews.com cut Steven Madden from a “buy” rating to a “hold” rating in a research note on Sunday, November 24th. Eight investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $45.43.

Steven Madden Stock Up 0.6 %

SHOO opened at $44.74 on Friday. Steven Madden, Ltd. has a 12 month low of $37.99 and a 12 month high of $50.01. The stock has a market cap of $3.23 billion, a P/E ratio of 19.04 and a beta of 1.07. The company has a fifty day simple moving average of $45.77 and a 200 day simple moving average of $44.64.

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

Steven Madden Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a $0.21 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.84 annualized dividend and a yield of 1.88%. Steven Madden’s dividend payout ratio is currently 35.74%.

Steven Madden 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.