Steven Madden, Ltd. (SHOO) Holdings Cut by Principal Financial Group Inc.
Principal Financial Group Inc. cut its holdings in Steven Madden, Ltd. (NASDAQ:SHOO) by 1.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 438,940 shares of the textile maker’s stock after selling 6,758 shares during the quarter. Principal Financial Group Inc. owned 0.74% of Steven Madden worth $19,006,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Riverhead Capital Management LLC raised its position in shares of Steven Madden by 97.1% during the second quarter. Riverhead Capital Management LLC now owns 2,562 shares of the textile maker’s stock worth $102,000 after purchasing an additional 1,262 shares during the period. First Mercantile Trust Co. raised its position in shares of Steven Madden by 1.7% during the second quarter. First Mercantile Trust Co. now owns 3,570 shares of the textile maker’s stock worth $143,000 after purchasing an additional 60 shares during the period. Fortaleza Asset Management Inc. acquired a new position in shares of Steven Madden during the third quarter worth approximately $158,000. Public Employees Retirement System of Ohio raised its position in shares of Steven Madden by 9.7% during the first quarter. Public Employees Retirement System of Ohio now owns 4,575 shares of the textile maker’s stock worth $176,000 after purchasing an additional 403 shares during the period. Finally, IFP Advisors Inc raised its position in shares of Steven Madden by 3,804.2% during the second quarter. IFP Advisors Inc now owns 4,607 shares of the textile maker’s stock worth $184,000 after purchasing an additional 4,489 shares during the period. 91.44% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have recently weighed in on SHOO shares. ValuEngine raised Steven Madden from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Zacks Investment Research raised Steven Madden from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a research report on Friday, September 1st. Jefferies Group LLC set a $39.00 target price on Steven Madden and gave the stock a “hold” rating in a research report on Tuesday, October 31st. Piper Jaffray Companies reaffirmed a “buy” rating and set a $45.00 target price on shares of Steven Madden in a research report on Thursday, August 3rd. Finally, Telsey Advisory Group lowered their target price on Steven Madden from $45.00 to $44.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 1st. 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’s stock. Steven Madden presently has a consensus rating of “Hold” and a consensus target price of $43.96.
Shares of Steven Madden, Ltd. (SHOO) opened at $39.80 on Friday. The company has a market capitalization of $2,349.35, a price-to-earnings ratio of 17.75, a P/E/G ratio of 1.50 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, meeting analysts’ consensus estimates of $0.77. The business 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%. Steven Madden’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.74 EPS. analysts anticipate that Steven Madden, Ltd. will post 2.21 EPS for the current year.
In related news, Director Richard P. Randall sold 2,000 shares of the stock in a transaction on 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 sale, the director now directly owns 22,809 shares of the company’s stock, valued at approximately $867,882.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.06% of the company’s stock.
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Steven Madden Company Profile
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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