Mutual of America Capital Management LLC Reduces Position in Steven Madden, Ltd. (NASDAQ:SHOO)

Mutual of America Capital Management LLC reduced its position in Steven Madden, Ltd. (NASDAQ:SHOO) by 83.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,921 shares of the textile maker’s stock after selling 56,032 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Steven Madden were worth $535,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. CANADA LIFE ASSURANCE Co grew its stake in shares of Steven Madden by 5.1% during the first quarter. CANADA LIFE ASSURANCE Co now owns 73,147 shares of the textile maker’s stock valued at $3,089,000 after buying an additional 3,569 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Steven Madden by 6.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 134,309 shares of the textile maker’s stock worth $5,679,000 after acquiring an additional 7,547 shares during the last quarter. Jane Street Group LLC boosted its holdings in Steven Madden by 36.9% during the 1st quarter. Jane Street Group LLC now owns 183,423 shares of the textile maker’s stock valued at $7,755,000 after acquiring an additional 49,432 shares during the period. Harbor Capital Advisors Inc. grew its position in Steven Madden by 273.4% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 48,840 shares of the textile maker’s stock valued at $2,066,000 after acquiring an additional 35,761 shares during the last quarter. Finally, SG Americas Securities LLC increased its stake in Steven Madden by 61.1% in the second quarter. SG Americas Securities LLC now owns 21,058 shares of the textile maker’s stock worth $891,000 after purchasing an additional 7,983 shares during the period. Institutional investors own 99.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Telsey Advisory Group reissued 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 reissued a “neutral” rating and issued a $41.00 price objective on shares of Steven Madden in a research report on Wednesday, August 7th. Needham & Company LLC started coverage on shares of Steven Madden in a research report on Friday, November 22nd. They set a “hold” rating on the stock. StockNews.com downgraded shares of Steven Madden from a “buy” rating to a “hold” rating in a research note on Sunday. Finally, Citigroup increased their price objective on Steven Madden from $43.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Eight research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $45.43.

Steven Madden Stock Performance

NASDAQ SHOO opened at $44.16 on Wednesday. The company has a market cap of $3.19 billion, a PE ratio of 18.84 and a beta of 1.08. The firm’s 50 day moving average price is $46.28 and its 200-day moving average price is $44.47. Steven Madden, Ltd. has a 52-week low of $36.56 and a 52-week 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. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. The company had revenue of $624.68 million during the quarter, compared to analyst estimates of $607.89 million. During the same quarter in the prior year, the business earned $0.88 earnings per share. Steven Madden’s revenue was up 13.0% on a year-over-year basis. On average, analysts forecast that Steven Madden, Ltd. will post 2.65 earnings per share for the current fiscal year.

Steven Madden Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.90%. 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.