Steven Madden, Ltd. (SHOO) Position Reduced by OppenheimerFunds Inc.
OppenheimerFunds Inc. reduced its position in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 5.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 19,331 shares of the textile maker’s stock after selling 1,202 shares during the quarter. OppenheimerFunds Inc.’s holdings in Steven Madden were worth $1,026,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently bought and sold shares of the company. BlueMountain Capital Management LLC increased its position in Steven Madden by 18.2% during the 2nd quarter. BlueMountain Capital Management LLC now owns 14,416 shares of the textile maker’s stock valued at $765,000 after purchasing an additional 2,217 shares during the period. Itau Unibanco Holding S.A. purchased a new stake in shares of Steven Madden in the 2nd quarter worth about $113,000. Ontario Teachers Pension Plan Board purchased a new stake in shares of Steven Madden in the 2nd quarter worth about $822,000. Employees Retirement System of Texas purchased a new stake in shares of Steven Madden in the 2nd quarter worth about $1,487,000. Finally, NumerixS Investment Technologies Inc grew its position in shares of Steven Madden by 81.8% in the 2nd quarter. NumerixS Investment Technologies Inc now owns 2,000 shares of the textile maker’s stock worth $108,000 after buying an additional 900 shares during the period. Institutional investors own 95.88% of the company’s stock.
A number of research firms have recently weighed in on SHOO. Canaccord Genuity set a $59.00 target price on shares of Steven Madden and gave the stock a “buy” rating in a research report on Monday, July 30th. BidaskClub raised shares of Steven Madden from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, July 24th. Loop Capital set a $54.00 target price on shares of Steven Madden and gave the stock a “hold” rating in a research report on Wednesday, August 8th. B. Riley set a $58.00 target price on shares of Steven Madden and gave the stock a “buy” rating in a research report on Wednesday, August 1st. Finally, Buckingham Research upped their target price on shares of Steven Madden from $54.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, August 16th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the stock. Steven Madden currently has an average rating of “Buy” and a consensus price target of $54.58.
Shares of Steven Madden stock opened at $53.80 on Friday. The stock has a market capitalization of $3.19 billion, a P/E ratio of 24.02, a PEG ratio of 1.91 and a beta of 0.51. Steven Madden, Ltd. has a 1 year low of $37.25 and a 1 year high of $58.95.
Steven Madden shares are scheduled to split on the morning of Friday, October 12th. The 3-2 split was announced on Monday, September 17th. The newly minted shares will be issued to shareholders after the closing bell on Thursday, October 11th.
Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings results on Tuesday, July 31st. The textile maker reported $0.61 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.02. The company had revenue of $395.80 million for the quarter, compared to analysts’ expectations of $390.57 million. Steven Madden had a net margin of 8.17% and a return on equity of 17.01%. Steven Madden’s revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.51 EPS. analysts expect that Steven Madden, Ltd. will post 2.68 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Tuesday, September 18th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend is Monday, September 17th. Steven Madden’s payout ratio is 35.71%.
About Steven Madden
Steven Madden, Ltd. designs, sources, markets, and sells fashion-forward name brand and private label footwear for women, men, and children worldwide. Its Wholesale Footwear segment provides footwear under the Steve Madden Women's, Madden Girl, Steve Madden Men's, Madden, Madden NYC, Dolce Vita, DV by Dolce Vita, Mad Love, Steven by Steve Madden, Report, Superga, Betsey Johnson, Betseyville, Steve Madden Kids, FREEBIRD by Steven, Stevies, B Brian Atwood, Blondo, Kate Spade, and Avec Les Filles brands, as well as private label footwear.
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