Moran Wealth Management LLC Sells 575 Shares of Steven Madden, Ltd. (NASDAQ:SHOO)

Moran Wealth Management LLC reduced its position in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 2.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,801 shares of the textile maker’s stock after selling 575 shares during the period. Moran Wealth Management LLC’s holdings in Steven Madden were worth $1,019,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in SHOO. Blue Trust Inc. boosted its stake in shares of Steven Madden by 9,166.7% in the second quarter. Blue Trust Inc. now owns 834 shares of the textile maker’s stock valued at $35,000 after buying an additional 825 shares during the period. Gladius Capital Management LP bought a new stake in Steven Madden during the third quarter worth $36,000. Exchange Traded Concepts LLC acquired a new position in Steven Madden during the third quarter worth 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 purchasing an additional 593 shares during the last quarter. Finally, EntryPoint Capital LLC acquired a new position in Steven Madden in the 1st quarter worth about $81,000. 99.88% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Piper Sandler restated a “neutral” rating and issued a $45.00 price objective on shares of Steven Madden in a report on Friday, August 23rd. Telsey Advisory Group reissued a “market perform” rating and issued a $50.00 price target on shares of Steven Madden in a research note on Wednesday, November 13th. StockNews.com upgraded shares of Steven Madden from a “hold” rating to a “buy” rating in a research note on Saturday, November 16th. Wedbush restated a “neutral” rating and issued a $41.00 price target on shares of Steven Madden in a report on Wednesday, August 7th. Finally, Citigroup increased their price objective on shares of Steven Madden from $43.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $45.43.

Steven Madden Stock Performance

SHOO stock opened at $42.90 on Friday. Steven Madden, Ltd. has a 52-week low of $36.56 and a 52-week high of $50.01. The business has a 50-day simple moving average of $46.33 and a two-hundred day simple moving average of $44.37. The company has a market capitalization of $3.10 billion, a P/E ratio of 18.26 and a beta of 1.08.

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

Steven Madden Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date is Friday, December 13th. Steven Madden’s dividend payout ratio is currently 35.74%.

Steven Madden 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.