Cramer Rosenthal Mcglynn LLC Boosts Stake in Steven Madden, Ltd. $SHOO

Cramer Rosenthal Mcglynn LLC increased its holdings in Steven Madden, Ltd. (NASDAQ:SHOO) by 254.7% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 607,476 shares of the textile maker’s stock after buying an additional 436,197 shares during the quarter. Steven Madden comprises approximately 1.3% of Cramer Rosenthal Mcglynn LLC’s portfolio, making the stock its 28th biggest position. Cramer Rosenthal Mcglynn LLC’s holdings in Steven Madden were worth $20,338,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. EverSource Wealth Advisors LLC boosted its holdings in shares of Steven Madden by 86.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,045 shares of the textile maker’s stock valued at $25,000 after acquiring an additional 485 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in Steven Madden during the 3rd quarter valued at $31,000. Parkside Financial Bank & Trust increased its position in Steven Madden by 616.8% during the third quarter. Parkside Financial Bank & Trust now owns 2,136 shares of the textile maker’s stock valued at $72,000 after acquiring an additional 1,838 shares during the last quarter. State of Wyoming lifted its holdings in Steven Madden by 117.3% in the third quarter. State of Wyoming now owns 3,800 shares of the textile maker’s stock valued at $127,000 after acquiring an additional 2,051 shares during the period. Finally, Nisa Investment Advisors LLC lifted its stake in shares of Steven Madden by 172.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 5,523 shares of the textile maker’s stock worth $185,000 after purchasing an additional 3,494 shares during the period. Institutional investors own 99.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Steven Madden in a research report on Thursday, January 22nd. Needham & Company LLC reduced their price objective on Steven Madden from $50.00 to $41.00 and set a “buy” rating for the company in a research note on Wednesday, February 25th. Zacks Research downgraded Steven Madden from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 5th. BTIG Research reaffirmed a “buy” rating and set a $50.00 price target on shares of Steven Madden in a report on Thursday, February 26th. Finally, Piper Sandler increased their price objective on shares of Steven Madden from $40.00 to $50.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. Five equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Steven Madden has a consensus rating of “Hold” and an average price target of $43.43.

Steven Madden Trading Down 3.8%

Shares of Steven Madden stock opened at $34.75 on Friday. The business has a 50-day moving average price of $41.22 and a 200-day moving average price of $37.64. Steven Madden, Ltd. has a twelve month low of $19.05 and a twelve month high of $46.88. The firm has a market cap of $2.53 billion, a price-to-earnings ratio of 56.05 and a beta of 1.13. The company has a quick ratio of 1.11, a current ratio of 1.90 and a debt-to-equity ratio of 0.26.

Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings results on Wednesday, February 25th. The textile maker reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.02. Steven Madden had a net margin of 1.76% and a return on equity of 13.60%. The company had revenue of $753.70 million for the quarter, compared to analysts’ expectations of $758.53 million. During the same quarter in the previous year, the business posted $0.55 earnings per share. Steven Madden’s quarterly revenue was up 29.6% on a year-over-year basis. Equities research analysts anticipate that Steven Madden, Ltd. will post 2.66 EPS for the current fiscal year.

Steven Madden Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Wednesday, March 11th will be given a $0.21 dividend. The ex-dividend date is Wednesday, March 11th. This represents a $0.84 annualized dividend and a yield of 2.4%. Steven Madden’s dividend payout ratio (DPR) is currently 135.48%.

About Steven Madden

Steven Madden, Inc (NASDAQ: SHOO) is a New York–based designer and marketer of fashion footwear, handbags and accessories. The company’s product portfolio spans a range of contemporary and lifestyle brands for women, men and children, including its core Steve Madden label as well as the Madden Girl and Dolce Vita brands. In addition to footwear, the company licenses its trademarks for use on apparel, eyewear and other fashion accessories.

Steven Madden distributes its products through multiple channels, including wholesale partners, e-commerce platforms and its own brick-and-mortar retail stores.