JPMorgan Chase & Co. Acquires 21,942 Shares of Steven Madden, Ltd. (NASDAQ:SHOO)

JPMorgan Chase & Co. raised its holdings in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 5.0% in the third quarter, HoldingsChannel reports. The firm owned 462,096 shares of the textile maker’s stock after buying an additional 21,942 shares during the quarter. JPMorgan Chase & Co.’s holdings in Steven Madden were worth $22,638,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of SHOO. Tidal Investments LLC increased its stake in shares of Steven Madden by 15.1% during the third quarter. Tidal Investments LLC now owns 17,375 shares of the textile maker’s stock valued at $851,000 after buying an additional 2,278 shares during the period. Geode Capital Management LLC boosted its holdings in Steven Madden by 3.0% in the third quarter. Geode Capital Management LLC now owns 1,710,492 shares of the textile maker’s stock valued at $83,812,000 after acquiring an additional 49,075 shares in the last quarter. Barclays PLC boosted its holdings in Steven Madden by 286.9% in the third quarter. Barclays PLC now owns 139,206 shares of the textile maker’s stock valued at $6,819,000 after acquiring an additional 103,226 shares in the last quarter. Weiss Asset Management LP purchased a new position in Steven Madden during the 3rd quarter valued at $12,558,000. Finally, State Street Corp raised its holdings in Steven Madden by 1.7% in the 3rd quarter. State Street Corp now owns 2,756,075 shares of the textile maker’s stock worth $135,020,000 after purchasing an additional 47,017 shares in the last quarter. Hedge funds and other institutional investors own 99.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Telsey Advisory Group reaffirmed a “market perform” rating and set a $50.00 target price on shares of Steven Madden in a research note on Wednesday, November 13th. Citigroup lifted their price objective on Steven Madden from $43.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Needham & Company LLC reiterated a “hold” rating on shares of Steven Madden in a report on Thursday, December 5th. Finally, StockNews.com upgraded Steven Madden from a “hold” rating to a “buy” rating in a research note on Monday. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, Steven Madden currently has a consensus rating of “Hold” and a consensus target price of $46.33.

Steven Madden Stock Performance

Shares of SHOO opened at $41.19 on Thursday. Steven Madden, Ltd. has a fifty-two week low of $37.99 and a fifty-two week high of $50.01. The firm’s 50-day simple moving average is $43.66 and its two-hundred day simple moving average is $44.50. The stock has a market cap of $2.97 billion, a PE ratio of 17.53 and a beta of 1.08.

Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings data on Thursday, November 7th. The textile maker reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.02. The company had revenue of $624.68 million during the quarter, compared to analyst estimates of $607.89 million. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. During the same quarter last year, the company earned $0.88 EPS. The firm’s revenue for the quarter was up 13.0% on a year-over-year basis. Equities research analysts predict that Steven Madden, Ltd. will post 2.66 EPS for the current year.

Steven Madden Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.04%. The ex-dividend date of this dividend was Friday, December 13th. Steven Madden’s dividend payout ratio is presently 35.74%.

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.