Segall Bryant & Hamill LLC Cuts Stake in Steven Madden, Ltd. $SHOO

Segall Bryant & Hamill LLC reduced its holdings in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 41.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 399,582 shares of the textile maker’s stock after selling 280,435 shares during the period. Segall Bryant & Hamill LLC owned about 0.55% of Steven Madden worth $13,378,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Steven Madden by 2.5% during the 3rd quarter. Vanguard Group Inc. now owns 8,283,806 shares of the textile maker’s stock valued at $277,342,000 after purchasing an additional 200,013 shares during the last quarter. Invesco Ltd. boosted its position in Steven Madden by 50.5% during the second quarter. Invesco Ltd. now owns 2,426,926 shares of the textile maker’s stock valued at $58,198,000 after buying an additional 814,318 shares during the period. Geode Capital Management LLC grew its stake in shares of Steven Madden by 1.9% during the second quarter. Geode Capital Management LLC now owns 1,790,038 shares of the textile maker’s stock valued at $42,931,000 after buying an additional 32,604 shares during the last quarter. Neumeier Poma Investment Counsel LLC increased its holdings in shares of Steven Madden by 155.9% in the third quarter. Neumeier Poma Investment Counsel LLC now owns 955,010 shares of the textile maker’s stock worth $31,974,000 after buying an additional 581,745 shares during the period. Finally, Bank of America Corp DE lifted its stake in shares of Steven Madden by 19.0% in the 2nd quarter. Bank of America Corp DE now owns 836,496 shares of the textile maker’s stock valued at $20,059,000 after acquiring an additional 133,466 shares during the last quarter. 99.88% of the stock is currently owned by institutional investors.

Steven Madden Stock Up 0.7%

Shares of NASDAQ SHOO opened at $35.86 on Wednesday. The firm has a fifty day simple moving average of $41.51 and a two-hundred day simple moving average of $37.67. Steven Madden, Ltd. has a 12 month low of $19.05 and a 12 month high of $46.88. The company has a current ratio of 1.90, a quick ratio of 1.11 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $2.61 billion, a PE ratio of 57.84 and a beta of 1.13.

Steven Madden (NASDAQ:SHOO) last announced its earnings results on Wednesday, February 25th. The textile maker reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.02. Steven Madden had a net margin of 1.76% and a return on equity of 13.60%. The firm had revenue of $753.70 million for the quarter, compared to analyst estimates of $758.53 million. During the same quarter in the previous year, the firm posted $0.55 EPS. The company’s revenue for the quarter was up 29.6% compared to the same quarter last year. Equities analysts expect that Steven Madden, Ltd. will post 2.66 earnings per share for the current year.

Steven Madden Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Wednesday, March 11th will be given a $0.21 dividend. The ex-dividend date of this dividend is Wednesday, March 11th. This represents a $0.84 annualized dividend and a dividend yield of 2.3%. Steven Madden’s dividend payout ratio is currently 135.48%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Needham & Company LLC reduced their price target on Steven Madden from $50.00 to $41.00 and set a “buy” rating on the stock in a research report on Wednesday, February 25th. Telsey Advisory Group reissued an “outperform” rating and set a $50.00 price objective on shares of Steven Madden in a research note on Thursday, February 26th. UBS Group restated a “neutral” rating on shares of Steven Madden in a report on Monday, February 23rd. Piper Sandler upped their price target on shares of Steven Madden from $40.00 to $50.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. Finally, BTIG Research reissued a “buy” rating and set a $50.00 price target on shares of Steven Madden in a research report on Thursday, February 26th. Five equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Steven Madden presently has an average rating of “Hold” and an average target price of $43.43.

About Steven Madden

Steven Madden, Inc (NASDAQ: SHOO) is a New York–based designer and marketer of fashion footwear, handbags and accessories. The company’s product portfolio spans a range of contemporary and lifestyle brands for women, men and children, including its core Steve Madden label as well as the Madden Girl and Dolce Vita brands. In addition to footwear, the company licenses its trademarks for use on apparel, eyewear and other fashion accessories.

Steven Madden distributes its products through multiple channels, including wholesale partners, e-commerce platforms and its own brick-and-mortar retail stores.