Tidal Investments LLC Grows Stock Position in Steven Madden, Ltd. (NASDAQ:SHOO)

Tidal Investments LLC increased its stake in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 15.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 17,375 shares of the textile maker’s stock after purchasing an additional 2,278 shares during the period. Tidal Investments LLC’s holdings in Steven Madden were worth $851,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Assenagon Asset Management S.A. purchased a new stake in shares of Steven Madden in the second quarter valued at about $1,269,000. Blue Trust Inc. boosted its holdings in Steven Madden by 9,166.7% in the 2nd quarter. Blue Trust Inc. now owns 834 shares of the textile maker’s stock valued at $35,000 after purchasing an additional 825 shares in the last quarter. Bank of New York Mellon Corp increased its position in Steven Madden by 0.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 873,682 shares of the textile maker’s stock worth $36,957,000 after purchasing an additional 5,451 shares during the period. Legato Capital Management LLC purchased a new position in shares of Steven Madden during the 2nd quarter worth approximately $619,000. Finally, Fort Washington Investment Advisors Inc. OH lifted its holdings in shares of Steven Madden by 10.1% in the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 501,457 shares of the textile maker’s stock valued at $21,212,000 after buying an additional 45,910 shares during the period. 99.88% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Piper Sandler reaffirmed a “neutral” rating and set a $45.00 price objective on shares of Steven Madden in a report on Friday, August 23rd. Citigroup upped their price target on shares of Steven Madden from $43.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. StockNews.com upgraded shares of Steven Madden from a “hold” rating to a “buy” rating in a report on Thursday. Needham & Company LLC reissued a “hold” rating on shares of Steven Madden in a report on Thursday, December 5th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $50.00 target price on shares of Steven Madden in a report on Wednesday, November 13th. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $45.43.

Steven Madden Price Performance

Shares of NASDAQ SHOO opened at $42.83 on Friday. The firm’s 50-day moving average is $44.93 and its two-hundred day moving average is $44.67. Steven Madden, Ltd. has a 12-month low of $37.99 and a 12-month high of $50.01. The company has a market capitalization of $3.09 billion, a PE ratio of 18.23 and a beta of 1.07.

Steven Madden (NASDAQ:SHOO) last announced its earnings results on Thursday, November 7th. The textile maker reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.02. The firm had revenue of $624.68 million for the quarter, compared to analysts’ expectations of $607.89 million. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. Steven Madden’s quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.88 EPS. On average, analysts forecast that Steven Madden, Ltd. will post 2.66 EPS for the current fiscal year.

Steven Madden Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.84 annualized dividend and a yield of 1.96%. Steven Madden’s payout ratio is currently 35.74%.

About Steven Madden

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.