Edgestream Partners L.P. Has $6.60 Million Stock Position in Steven Madden, Ltd. (NASDAQ:SHOO)

Edgestream Partners L.P. boosted its stake in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 269.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 134,716 shares of the textile maker’s stock after purchasing an additional 98,274 shares during the period. Edgestream Partners L.P.’s holdings in Steven Madden were worth $6,600,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. Mackenzie Financial Corp boosted its holdings in shares of Steven Madden by 3.1% in the 2nd quarter. Mackenzie Financial Corp now owns 8,232 shares of the textile maker’s stock valued at $348,000 after buying an additional 248 shares during the last quarter. Louisiana State Employees Retirement System lifted its stake in Steven Madden by 1.2% in the third quarter. Louisiana State Employees Retirement System now owns 35,100 shares of the textile maker’s stock valued at $1,720,000 after acquiring an additional 400 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Steven Madden by 1.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 40,141 shares of the textile maker’s stock valued at $1,698,000 after acquiring an additional 484 shares during the period. AlphaMark Advisors LLC increased its stake in shares of Steven Madden by 7.4% during the 2nd quarter. AlphaMark Advisors LLC now owns 7,785 shares of the textile maker’s stock worth $329,000 after purchasing an additional 535 shares during the last quarter. Finally, KBC Group NV raised its holdings in shares of Steven Madden by 34.1% in the 3rd quarter. KBC Group NV now owns 2,208 shares of the textile maker’s stock valued at $108,000 after purchasing an additional 561 shares during the period. 99.88% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on SHOO shares. Citigroup lifted their price target on Steven Madden from $43.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Telsey Advisory Group reiterated a “market perform” rating and set a $50.00 target price on shares of Steven Madden in a research note on Wednesday, November 13th. Wedbush restated a “neutral” rating and issued a $41.00 price target on shares of Steven Madden in a research note on Wednesday, August 7th. Piper Sandler reaffirmed a “neutral” rating and set a $45.00 price target on shares of Steven Madden in a report on Friday, August 23rd. Finally, Needham & Company LLC initiated coverage on shares of Steven Madden in a report on Friday, November 22nd. They issued a “hold” rating on the stock. Eight equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $45.43.

Steven Madden Trading Up 1.7 %

NASDAQ:SHOO opened at $45.58 on Friday. The stock has a 50 day simple moving average of $46.11 and a 200 day simple moving average of $44.49. The stock has a market cap of $3.29 billion, a P/E ratio of 19.40 and a beta of 1.08. Steven Madden, Ltd. has a 1-year low of $37.52 and a 1-year high of $50.01.

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

Steven Madden Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date of this dividend is Friday, December 13th. Steven Madden’s dividend 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.