Principal Financial Group Inc. Cuts Stock Position in Steven Madden, Ltd. $SHOO

Principal Financial Group Inc. decreased its holdings in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 25.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 353,332 shares of the textile maker’s stock after selling 118,293 shares during the period. Principal Financial Group Inc. owned about 0.48% of Steven Madden worth $11,985,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its holdings in Steven Madden by 86.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,045 shares of the textile maker’s stock worth $25,000 after acquiring an additional 485 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in Steven Madden during the fourth quarter valued at $30,000. Global Retirement Partners LLC lifted its holdings in Steven Madden by 1,064.3% during the fourth quarter. Global Retirement Partners LLC now owns 815 shares of the textile maker’s stock valued at $34,000 after purchasing an additional 745 shares in the last quarter. First Horizon Corp grew its position in shares of Steven Madden by 55.1% in the fourth quarter. First Horizon Corp now owns 892 shares of the textile maker’s stock valued at $37,000 after purchasing an additional 317 shares during the period. Finally, Farther Finance Advisors LLC grew its position in shares of Steven Madden by 79.4% in the fourth quarter. Farther Finance Advisors LLC now owns 983 shares of the textile maker’s stock valued at $41,000 after purchasing an additional 435 shares during the period. Institutional investors and hedge funds own 99.88% of the company’s stock.

Insider Activity at Steven Madden

In other news, insider Christina Ciglar sold 5,147 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $44.74, for a total value of $230,276.78. Following the completion of the sale, the insider directly owned 35,200 shares in the company, valued at $1,574,848. This represents a 12.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Arian Simone Reed sold 648 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $39.97, for a total value of $25,900.56. Following the completion of the sale, the director owned 8,057 shares of the company’s stock, valued at $322,038.29. This trade represents a 7.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 6,270 shares of company stock worth $276,992. Insiders own 2.21% of the company’s stock.

Analysts Set New Price Targets

SHOO has been the subject of several research analyst reports. Wall Street Zen upgraded shares of Steven Madden from a “hold” rating to a “buy” rating in a research report on Saturday, June 6th. BTIG Research reiterated a “buy” rating and issued a $50.00 price objective on shares of Steven Madden in a report on Thursday, June 4th. Needham & Company LLC boosted their price objective on Steven Madden from $45.00 to $52.00 and gave the stock a “buy” rating in a research note on Friday, June 12th. Zacks Research raised Steven Madden from a “hold” rating to a “strong-buy” rating in a report on Monday, July 6th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Steven Madden in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Steven Madden presently has an average rating of “Moderate Buy” and an average price target of $45.12.

Steven Madden Stock Performance

NASDAQ:SHOO opened at $42.75 on Friday. The company’s 50-day moving average price is $42.64 and its 200-day moving average price is $39.94. The company has a current ratio of 2.23, a quick ratio of 1.42 and a debt-to-equity ratio of 0.30. The company has a market cap of $3.12 billion, a P/E ratio of 40.71 and a beta of 1.15. Steven Madden, Ltd. has a twelve month low of $22.26 and a twelve month high of $47.10.

Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings results on Wednesday, May 6th. The textile maker reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.03. Steven Madden had a net margin of 2.89% and a return on equity of 12.29%. The firm had revenue of $653.10 million for the quarter, compared to analyst estimates of $646.64 million. During the same period in the previous year, the business posted $0.60 earnings per share. Steven Madden’s quarterly revenue was up 18.0% on a year-over-year basis. Steven Madden has set its FY 2026 guidance at 2.000-2.100 EPS. On average, sell-side analysts forecast that Steven Madden, Ltd. will post 2.1 earnings per share for the current fiscal year.

Steven Madden Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 19th. Stockholders of record on Monday, June 8th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Monday, June 8th. Steven Madden’s payout ratio is currently 80.00%.

Steven Madden Company 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.