Blue Trust Inc. Buys 785 Shares of Steven Madden, Ltd. (NASDAQ:SHOO)

Blue Trust Inc. grew its position in Steven Madden, Ltd. (NASDAQ:SHOO) by 94.1% in the third quarter, Holdings Channel reports. The fund owned 1,619 shares of the textile maker’s stock after acquiring an additional 785 shares during the quarter. Blue Trust Inc.’s holdings in Steven Madden were worth $79,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of SHOO. Seven Eight Capital LP increased its holdings in Steven Madden by 902.5% in the 1st quarter. Seven Eight Capital LP now owns 49,265 shares of the textile maker’s stock worth $2,083,000 after purchasing an additional 44,351 shares in the last quarter. Harbor Capital Advisors Inc. increased its stake in shares of Steven Madden by 273.4% in the second quarter. Harbor Capital Advisors Inc. now owns 48,840 shares of the textile maker’s stock valued at $2,066,000 after buying an additional 35,761 shares during the period. Quantbot Technologies LP bought a new position in Steven Madden in the 1st quarter valued at approximately $1,968,000. Magnetar Financial LLC acquired a new stake in Steven Madden during the 1st quarter worth approximately $876,000. Finally, Jane Street Group LLC grew 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 worth $7,755,000 after acquiring an additional 49,432 shares during the last quarter. 99.88% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SHOO. Piper Sandler reaffirmed a “neutral” rating and set a $45.00 price target on shares of Steven Madden in a research note on Friday, August 23rd. StockNews.com upgraded Steven Madden from a “hold” rating to a “buy” rating in a report on Wednesday, September 18th. Wedbush reaffirmed a “neutral” rating and set a $41.00 target price on shares of Steven Madden in a report on Wednesday, August 7th. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $50.00 price target on shares of Steven Madden in a research note on Wednesday. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $45.14.

Steven Madden Trading Down 0.1 %

Shares of SHOO opened at $45.09 on Thursday. The firm’s fifty day simple moving average is $46.37 and its two-hundred day simple moving average is $43.91. Steven Madden, Ltd. has a 12 month low of $31.56 and a 12 month high of $50.01. The stock has a market capitalization of $3.27 billion, a P/E ratio of 18.40 and a beta of 1.08.

Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings data on Wednesday, July 31st. The textile maker reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.06. Steven Madden had a return on equity of 23.49% and a net margin of 8.36%. The company had revenue of $523.60 million for the quarter, compared to the consensus estimate of $515.15 million. During the same period in the previous year, the business earned $0.47 EPS. The firm’s revenue was up 17.6% compared to the same quarter last year. As a group, research analysts predict that Steven Madden, Ltd. will post 2.62 EPS for the current fiscal year.

Steven Madden Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Friday, September 13th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.86%. The ex-dividend date of this dividend was Friday, September 13th. Steven Madden’s dividend payout ratio (DPR) is presently 34.29%.

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.