Segall Bryant & Hamill LLC Sells 10,209 Shares of Steven Madden, Ltd. (NASDAQ:SHOO)

Segall Bryant & Hamill LLC trimmed its position in Steven Madden, Ltd. (NASDAQ:SHOO) by 1.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 560,424 shares of the textile maker’s stock after selling 10,209 shares during the quarter. Segall Bryant & Hamill LLC’s holdings in Steven Madden were worth $27,455,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Capital Research Global Investors boosted its stake in shares of Steven Madden by 8.6% in the first quarter. Capital Research Global Investors now owns 1,856,001 shares of the textile maker’s stock worth $78,472,000 after acquiring an additional 146,324 shares during the period. Nicholas Investment Partners LP purchased a new stake in Steven Madden during the 2nd quarter valued at approximately $4,863,000. Squarepoint Ops LLC bought a new stake in shares of Steven Madden during the second quarter valued at approximately $4,550,000. Harbor Capital Advisors Inc. lifted its holdings in shares of Steven Madden by 149.8% in the third quarter. Harbor Capital Advisors Inc. now owns 122,005 shares of the textile maker’s stock worth $5,977,000 after buying an additional 73,165 shares in the last quarter. Finally, Jane Street Group LLC boosted its position in shares of Steven Madden by 36.9% during the first quarter. Jane Street Group LLC now owns 183,423 shares of the textile maker’s stock worth $7,755,000 after acquiring an additional 49,432 shares during the last quarter. Hedge funds and other institutional investors own 99.88% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on SHOO shares. Citigroup lifted their price target on shares of Steven Madden from $43.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, November 8th. StockNews.com upgraded Steven Madden from a “hold” rating to a “buy” rating in a research report on Saturday. Telsey Advisory Group restated a “market perform” rating and set a $50.00 price target on shares of Steven Madden in a report on Wednesday, November 13th. Wedbush reaffirmed a “neutral” rating and set a $41.00 price objective on shares of Steven Madden in a report on Wednesday, August 7th. Finally, Piper Sandler reiterated a “neutral” rating and set a $45.00 target price on shares of Steven Madden in a research report on Friday, August 23rd. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $45.43.

Steven Madden Stock Performance

NASDAQ SHOO opened at $42.53 on Wednesday. The company has a market cap of $3.07 billion, a P/E ratio of 18.10 and a beta of 1.08. The business’s 50 day moving average price is $46.40 and its 200-day moving average price is $44.40. Steven Madden, Ltd. has a fifty-two week low of $36.23 and a fifty-two week high of $50.01.

Steven Madden (NASDAQ:SHOO) last announced its earnings results on Thursday, November 7th. The textile maker reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.02. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. The business had revenue of $624.68 million for the quarter, compared to the consensus estimate of $607.89 million. During the same quarter in the prior year, the firm posted $0.88 earnings per share. The business’s revenue for the quarter was up 13.0% on a year-over-year basis. As a group, equities analysts predict that Steven Madden, Ltd. will post 2.65 EPS for the current year.

Steven Madden Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.98%. The ex-dividend date is Friday, December 13th. Steven Madden’s payout ratio is currently 35.74%.

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.