Victory Capital Management Inc. Sells 1,625 Shares of Steven Madden, Ltd. (NASDAQ:SHOO)

Victory Capital Management Inc. lessened its holdings in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 0.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 828,114 shares of the textile maker’s stock after selling 1,625 shares during the period. Victory Capital Management Inc. owned approximately 1.14% of Steven Madden worth $40,569,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of SHOO. Blue Trust Inc. lifted its holdings in shares of Steven Madden by 9,166.7% during the 2nd quarter. Blue Trust Inc. now owns 834 shares of the textile maker’s stock valued at $35,000 after purchasing an additional 825 shares in the last quarter. Exchange Traded Concepts LLC bought a new position in shares of Steven Madden during the 3rd quarter valued at about $59,000. GAMMA Investing LLC lifted its stake in Steven Madden by 80.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,329 shares of the textile maker’s stock valued at $65,000 after acquiring an additional 593 shares in the last quarter. EntryPoint Capital LLC bought a new stake in Steven Madden in the 1st quarter valued at approximately $81,000. Finally, International Assets Investment Management LLC lifted its stake in Steven Madden by 4,800.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,911 shares of the textile maker’s stock valued at $94,000 after acquiring an additional 1,872 shares in the last quarter. Institutional investors own 99.88% of the company’s stock.

Steven Madden Trading Down 1.6 %

SHOO stock opened at $43.23 on Friday. The firm has a market capitalization of $3.12 billion, a PE ratio of 18.40 and a beta of 1.08. Steven Madden, Ltd. has a 1-year low of $35.64 and a 1-year high of $50.01. The business’s 50 day simple moving average is $46.43 and its 200 day simple moving average is $44.30.

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

Steven Madden Announces Dividend

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

Analysts Set New Price Targets

SHOO has been the topic of several research reports. Wedbush restated a “neutral” rating and issued a $41.00 target price on shares of Steven Madden in a research note on Wednesday, August 7th. Piper Sandler restated a “neutral” rating and issued a $45.00 target price on shares of Steven Madden in a research note on Friday, August 23rd. StockNews.com upgraded Steven Madden from a “hold” rating to a “buy” rating in a research note on Saturday. Citigroup upped their price objective on Steven Madden from $43.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Finally, Telsey Advisory Group reiterated a “market perform” rating and set a $50.00 price objective on shares of Steven Madden in a research note on Wednesday. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Steven Madden currently has an average rating of “Hold” and an average price target of $45.43.

Steven Madden Company Profile

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.