Crossmark Global Holdings Inc. Invests $453,000 in Steven Madden, Ltd. (SHOO) Stock
Crossmark Global Holdings Inc. purchased a new stake in shares of Steven Madden, Ltd. (NASDAQ:SHOO) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 10,466 shares of the textile maker’s stock, valued at approximately $453,000.
A number of other large investors have also bought and sold shares of SHOO. 1060 Capital LLC bought a new stake in Steven Madden during the second quarter valued at about $24,372,000. Wells Fargo & Company MN raised its holdings in Steven Madden by 386.5% during the second quarter. Wells Fargo & Company MN now owns 698,957 shares of the textile maker’s stock valued at $27,924,000 after acquiring an additional 555,283 shares during the period. Macquarie Group Ltd. raised its holdings in Steven Madden by 16.2% during the second quarter. Macquarie Group Ltd. now owns 2,250,031 shares of the textile maker’s stock valued at $89,889,000 after acquiring an additional 314,205 shares during the period. William Blair Investment Management LLC raised its holdings in Steven Madden by 58.9% during the second quarter. William Blair Investment Management LLC now owns 684,896 shares of the textile maker’s stock valued at $27,362,000 after acquiring an additional 253,841 shares during the period. Finally, Samlyn Capital LLC bought a new stake in Steven Madden during the second quarter valued at about $7,820,000. 91.44% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have commented on SHOO shares. Canaccord Genuity set a $47.00 price target on Steven Madden and gave the company a “buy” rating in a report on Wednesday, August 9th. B. Riley reissued a “buy” rating and set a $45.00 price target on shares of Steven Madden in a report on Friday, July 28th. Piper Jaffray Companies reissued a “buy” rating and set a $44.00 price target on shares of Steven Madden in a report on Wednesday, July 26th. BidaskClub raised Steven Madden from a “hold” rating to a “buy” rating in a report on Thursday, August 10th. Finally, Zacks Investment Research raised Steven Madden from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a report on Friday, August 18th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company. Steven Madden has an average rating of “Hold” and an average price target of $43.96.
Steven Madden, Ltd. (SHOO) opened at $40.40 on Tuesday. The company has a market capitalization of $2,322.76, a PE ratio of 17.55, a P/E/G ratio of 1.48 and a beta of 0.48. Steven Madden, Ltd. has a 12-month low of $33.50 and a 12-month high of $44.40.
Steven Madden (NASDAQ:SHOO) last released its quarterly earnings results on Tuesday, October 31st. The textile maker reported $0.77 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.77. The company had revenue of $441.19 million during the quarter, compared to analyst estimates of $441.03 million. Steven Madden had a return on equity of 17.21% and a net margin of 8.04%. The firm’s revenue was up 8.0% on a year-over-year basis. During the same quarter last year, the business posted $0.74 earnings per share. analysts expect that Steven Madden, Ltd. will post 2.21 earnings per share for the current fiscal year.
In related news, Director Richard P. Randall sold 2,000 shares of Steven Madden stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $38.05, for a total value of $76,100.00. Following the completion of the transaction, the director now owns 22,809 shares in the company, valued at $867,882.45. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 2.06% of the company’s stock.
About Steven Madden
Steven Madden, Ltd. and its subsidiaries design, source, market and sell name brand and private label footwear for women, men and children, and name brand and private label fashion handbags and accessories. The Company operates through five segments: Wholesale Footwear, Wholesale Accessories, Retail, First Cost and Licensing.
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