Steven Madden, Ltd. $SHOO Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. cut its stake in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 6.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,688,124 shares of the textile maker’s stock after selling 108,539 shares during the period. Victory Capital Management Inc. owned approximately 2.32% of Steven Madden worth $56,518,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Royce & Associates LP raised its stake in shares of Steven Madden by 82.3% during the third quarter. Royce & Associates LP now owns 29,455 shares of the textile maker’s stock worth $986,000 after purchasing an additional 13,298 shares during the last quarter. William Blair Investment Management LLC grew its position in Steven Madden by 7.1% in the 3rd quarter. William Blair Investment Management LLC now owns 725,449 shares of the textile maker’s stock valued at $24,288,000 after buying an additional 48,234 shares during the last quarter. Neumeier Poma Investment Counsel LLC grew its position in Steven Madden by 155.9% in the 3rd quarter. Neumeier Poma Investment Counsel LLC now owns 955,010 shares of the textile maker’s stock valued at $31,974,000 after buying an additional 581,745 shares during the last quarter. Intech Investment Management LLC increased its stake in Steven Madden by 29.9% in the 3rd quarter. Intech Investment Management LLC now owns 38,154 shares of the textile maker’s stock valued at $1,277,000 after buying an additional 8,792 shares during the period. Finally, Vestmark Advisory Solutions Inc. acquired a new position in Steven Madden in the 3rd quarter valued at $382,000. 99.88% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on SHOO. UBS Group restated a “neutral” rating on shares of Steven Madden in a research note on Monday, February 23rd. BTIG Research reissued a “buy” rating and set a $50.00 price target on shares of Steven Madden in a report on Thursday, February 26th. Telsey Advisory Group restated an “outperform” rating and issued a $50.00 price objective on shares of Steven Madden in a research report on Thursday, February 26th. Jefferies Financial Group lowered Steven Madden from a “hold” rating to an “underperform” rating and set a $30.00 price objective on the stock. in a report on Thursday, February 5th. Finally, Zacks Research cut Steven Madden from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 5th. Five research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $43.43.

Steven Madden Stock Performance

NASDAQ:SHOO opened at $33.88 on Friday. The firm’s fifty day simple moving average is $41.03 and its 200-day simple moving average is $37.69. The company has a quick ratio of 1.11, a current ratio of 1.90 and a debt-to-equity ratio of 0.26. The stock has a market cap of $2.47 billion, a PE ratio of 54.65 and a beta of 1.13. Steven Madden, Ltd. has a fifty-two week low of $19.05 and a fifty-two week high of $46.88.

Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings data on Wednesday, February 25th. The textile maker reported $0.48 EPS for the quarter, beating the consensus estimate of $0.46 by $0.02. The firm had revenue of $753.70 million during the quarter, compared to analysts’ expectations of $758.53 million. Steven Madden had a net margin of 1.76% and a return on equity of 13.60%. The business’s revenue for the quarter was up 29.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.55 earnings per share. 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 declared a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Wednesday, March 11th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Wednesday, March 11th. Steven Madden’s dividend payout ratio (DPR) is presently 135.48%.

Steven Madden Profile

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.