KBC Group NV Boosts Stake in Steven Madden, Ltd. (NASDAQ:SHOO)

KBC Group NV grew its stake in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 34.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,208 shares of the textile maker’s stock after acquiring an additional 561 shares during the period. KBC Group NV’s holdings in Steven Madden were worth $108,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Blue Trust Inc. lifted its holdings in shares of Steven Madden by 9,166.7% in the second quarter. Blue Trust Inc. now owns 834 shares of the textile maker’s stock valued at $35,000 after purchasing an additional 825 shares in the last quarter. Exchange Traded Concepts LLC purchased a new stake in shares of Steven Madden during the 3rd quarter valued at $59,000. GAMMA Investing LLC increased its holdings in shares of Steven Madden by 80.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,329 shares of the textile maker’s stock worth $65,000 after buying an additional 593 shares during the last quarter. EntryPoint Capital LLC acquired a new position in Steven Madden in the first quarter valued at $81,000. Finally, International Assets Investment Management LLC grew its position in Steven Madden by 4,800.0% during the third quarter. International Assets Investment Management LLC now owns 1,911 shares of the textile maker’s stock valued at $94,000 after acquiring an additional 1,872 shares during the period. Institutional investors and hedge funds own 99.88% of the company’s stock.

Steven Madden Stock Up 3.1 %

Shares of NASDAQ:SHOO opened at $42.90 on Friday. Steven Madden, Ltd. has a fifty-two week low of $36.56 and a fifty-two week high of $50.01. The company has a market cap of $3.10 billion, a PE ratio of 18.26 and a beta of 1.08. The company’s 50-day moving average price is $46.33 and its 200 day moving average price is $44.37.

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, topping the consensus estimate of $0.89 by $0.02. The business had revenue of $624.68 million during the quarter, compared to the consensus estimate of $607.89 million. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. The company’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.88 earnings per share. As a group, equities analysts anticipate that Steven Madden, Ltd. will post 2.65 EPS for the current year.

Steven Madden Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.96%. Steven Madden’s payout ratio is currently 35.74%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on SHOO shares. Piper Sandler reaffirmed a “neutral” rating and set a $45.00 price target on shares of Steven Madden in a research report on Friday, August 23rd. StockNews.com upgraded Steven Madden from a “hold” rating to a “buy” rating in a report on Saturday, November 16th. Wedbush reaffirmed a “neutral” rating and issued a $41.00 price objective on shares of Steven Madden in a research report on Wednesday, August 7th. Citigroup lifted their target price on Steven Madden from $43.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Finally, Telsey Advisory Group reissued a “market perform” rating and set a $50.00 price objective on shares of Steven Madden in a report on Wednesday, November 13th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Steven Madden presently has an average rating of “Hold” and a consensus target price of $45.43.

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.