Swiss National Bank Buys 5,000 Shares of Steven Madden, Ltd. (NASDAQ:SHOO)

Swiss National Bank boosted its stake in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 3.6% in the third quarter, Holdings Channel reports. The firm owned 143,325 shares of the textile maker’s stock after acquiring an additional 5,000 shares during the period. Swiss National Bank’s holdings in Steven Madden were worth $7,021,000 as of its most recent filing with the Securities & Exchange Commission.

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

Steven Madden Stock Down 2.8 %

NASDAQ:SHOO opened at $44.16 on Wednesday. The firm has a market capitalization of $3.19 billion, a PE ratio of 18.79 and a beta of 1.08. Steven Madden, Ltd. has a 12-month low of $36.56 and a 12-month high of $50.01. The firm has a 50-day moving average price of $46.28 and a 200 day moving average price of $44.47.

Steven Madden (NASDAQ:SHOO) last issued its earnings results on Thursday, November 7th. The textile maker reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.02. The business had revenue of $624.68 million during 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% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.88 EPS. On average, research analysts expect that Steven Madden, Ltd. will post 2.65 EPS for the current year.

Steven Madden Announces Dividend

The business 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 dividend of $0.21 per share. The ex-dividend date is Friday, December 13th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.90%. Steven Madden’s payout ratio is presently 35.74%.

Analyst Upgrades and Downgrades

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

Steven Madden 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.