Quest Partners LLC Makes New Investment in Steven Madden, Ltd. (NASDAQ:SHOO)

Quest Partners LLC purchased a new stake in Steven Madden, Ltd. (NASDAQ:SHOO) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,366 shares of the textile maker’s stock, valued at approximately $410,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Bank of New York Mellon Corp raised its position in shares of Steven Madden by 0.6% during the second quarter. Bank of New York Mellon Corp now owns 873,682 shares of the textile maker’s stock worth $36,957,000 after purchasing an additional 5,451 shares during the period. abrdn plc raised its holdings in Steven Madden by 2.7% during the 3rd quarter. abrdn plc now owns 558,015 shares of the textile maker’s stock worth $27,242,000 after buying an additional 14,841 shares during the period. Fort Washington Investment Advisors Inc. OH lifted its stake in Steven Madden by 10.1% during the second quarter. Fort Washington Investment Advisors Inc. OH now owns 501,457 shares of the textile maker’s stock valued at $21,212,000 after buying an additional 45,910 shares in the last quarter. Leeward Investments LLC MA boosted its holdings in shares of Steven Madden by 5.6% in the second quarter. Leeward Investments LLC MA now owns 312,740 shares of the textile maker’s stock worth $13,229,000 after buying an additional 16,529 shares during the period. Finally, Jane Street Group LLC increased its position in shares of Steven Madden by 36.9% in the first 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 in the last quarter. Institutional investors and hedge funds own 99.88% of the company’s stock.

Steven Madden Price Performance

Shares of SHOO stock opened at $43.40 on Monday. Steven Madden, Ltd. has a fifty-two week low of $36.56 and a fifty-two week high of $50.01. The stock’s 50-day moving average is $46.29 and its two-hundred day moving average is $44.44. The firm has a market cap of $3.13 billion, a P/E ratio of 18.47 and a beta of 1.08.

Steven Madden (NASDAQ:SHOO) last released its quarterly earnings data on Thursday, November 7th. The textile maker reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.02. The firm had revenue of $624.68 million for the quarter, compared to the consensus estimate of $607.89 million. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. The firm’s revenue was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.88 earnings per share. As a group, research analysts expect that Steven Madden, Ltd. will post 2.65 EPS for the current year.

Steven Madden Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.94%. The ex-dividend date is Friday, December 13th. Steven Madden’s payout ratio is presently 35.74%.

Analysts Set New Price Targets

Several brokerages recently commented on SHOO. Needham & Company LLC assumed coverage on shares of Steven Madden in a research report on Friday. They issued a “hold” rating for the company. StockNews.com lowered Steven Madden from a “buy” rating to a “hold” rating in a report on Sunday. Wedbush reaffirmed a “neutral” rating and issued a $41.00 target price on shares of Steven Madden in a research report on Wednesday, August 7th. Citigroup upped their price target on Steven Madden from $43.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Finally, Telsey Advisory Group restated a “market perform” rating and set a $50.00 price objective on shares of Steven Madden in a research report on Wednesday, November 13th. Eight analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, Steven Madden currently has an average rating of “Hold” and an average price target 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.