Ameritas Investment Partners Inc. Decreases Stake in Steven Madden, Ltd. (NASDAQ:SHOO)

Ameritas Investment Partners Inc. lessened its stake in Steven Madden, Ltd. (NASDAQ:SHOO) by 5.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,374 shares of the textile maker’s stock after selling 424 shares during the quarter. Ameritas Investment Partners Inc.’s holdings in Steven Madden were worth $312,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SHOO. Vanguard Group Inc. increased its holdings in Steven Madden by 1.0% in the third quarter. Vanguard Group Inc. now owns 8,329,605 shares of the textile maker’s stock valued at $264,632,000 after buying an additional 80,199 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Steven Madden by 10.3% in the 4th quarter. Victory Capital Management Inc. now owns 1,455,980 shares of the textile maker’s stock worth $61,151,000 after acquiring an additional 136,171 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Steven Madden by 2.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,024,238 shares of the textile maker’s stock valued at $43,018,000 after purchasing an additional 26,177 shares in the last quarter. First Trust Advisors LP raised its holdings in Steven Madden by 13.8% during the fourth quarter. First Trust Advisors LP now owns 613,449 shares of the textile maker’s stock worth $25,765,000 after purchasing an additional 74,225 shares during the last quarter. Finally, Ranger Investment Management L.P. boosted its position in Steven Madden by 36.8% during the fourth quarter. Ranger Investment Management L.P. now owns 560,941 shares of the textile maker’s stock worth $23,560,000 after purchasing an additional 150,852 shares in the last quarter. Institutional investors and hedge funds own 99.88% of the company’s stock.

Insider Transactions at Steven Madden

In related news, Director Rose Peabody Lynch sold 1,600 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $44.41, for a total value of $71,056.00. Following the completion of the sale, the director now directly owns 21,303 shares in the company, valued at $946,066.23. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Peter Migliorini sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $43.81, for a total value of $131,430.00. Following the transaction, the director now directly owns 16,006 shares in the company, valued at approximately $701,222.86. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Rose Peabody Lynch sold 1,600 shares of Steven Madden stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $44.41, for a total value of $71,056.00. Following the completion of the transaction, the director now directly owns 21,303 shares in the company, valued at $946,066.23. The disclosure for this sale can be found here. Insiders have sold a total of 14,600 shares of company stock worth $651,586 in the last three months. Company insiders own 2.08% of the company’s stock.

Steven Madden Stock Performance

SHOO stock opened at $43.14 on Thursday. The company has a 50 day moving average price of $43.33 and a two-hundred day moving average price of $42.21. The stock has a market capitalization of $3.17 billion, a P/E ratio of 17.83 and a beta of 1.09. Steven Madden, Ltd. has a one year low of $30.35 and a one year high of $45.91.

Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings data on Wednesday, May 1st. The textile maker reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.09. Steven Madden had a return on equity of 22.68% and a net margin of 8.65%. The business had revenue of $552.38 million during the quarter, compared to the consensus estimate of $525.04 million. During the same quarter in the previous year, the business earned $0.50 earnings per share. The business’s revenue for the quarter was up 19.1% on a year-over-year basis. Research analysts forecast that Steven Madden, Ltd. will post 2.62 earnings per share for the current fiscal year.

Steven Madden Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Monday, June 10th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date of this dividend was Monday, June 10th. Steven Madden’s dividend payout ratio is currently 34.71%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on SHOO shares. Telsey Advisory Group reissued a “market perform” rating and issued a $44.00 price objective on shares of Steven Madden in a research note on Thursday. BTIG Research increased their target price on Steven Madden from $50.00 to $53.00 and gave the company a “buy” rating in a report on Thursday, June 6th. Finally, Wedbush reissued a “neutral” rating and set a $41.00 price target on shares of Steven Madden in a research report on Friday, May 17th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $43.38.

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.