Capital Research Global Investors Acquires 146,324 Shares of Steven Madden, Ltd. (NASDAQ:SHOO)

Capital Research Global Investors raised its position in Steven Madden, Ltd. (NASDAQ:SHOO) by 8.6% during the first quarter, HoldingsChannel.com reports. The firm owned 1,856,001 shares of the textile maker’s stock after purchasing an additional 146,324 shares during the period. Capital Research Global Investors’ holdings in Steven Madden were worth $78,472,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC purchased a new position in shares of Steven Madden during the fourth quarter worth approximately $32,000. Fidelis Capital Partners LLC purchased a new position in shares of Steven Madden during the first quarter worth approximately $47,000. International Assets Investment Management LLC increased its position in shares of Steven Madden by 4,100.0% during the fourth quarter. International Assets Investment Management LLC now owns 1,638 shares of the textile maker’s stock worth $69,000 after acquiring an additional 1,599 shares during the period. EntryPoint Capital LLC purchased a new position in shares of Steven Madden during the first quarter worth approximately $81,000. Finally, Central Pacific Bank Trust Division purchased a new position in shares of Steven Madden during the first quarter worth approximately $170,000. 99.88% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Steven Madden

In related news, Director Peter Migliorini sold 3,000 shares of the business’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $43.81, for a total transaction of $131,430.00. Following the transaction, the director now directly owns 16,006 shares in the company, valued at $701,222.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Steven Madden news, Director Rose Peabody Lynch sold 1,600 shares of the stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $44.41, for a total value of $71,056.00. Following the sale, the director now directly owns 21,303 shares of the company’s stock, valued at approximately $946,066.23. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Peter Migliorini sold 3,000 shares of the stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $43.81, for a total transaction of $131,430.00. Following the completion of the sale, the director now directly owns 16,006 shares in the company, valued at $701,222.86. The disclosure for this sale can be found here. Insiders sold 14,600 shares of company stock valued at $651,586 over the last 90 days. Corporate insiders own 2.08% of the company’s stock.

Steven Madden Trading Up 3.2 %

SHOO traded up $1.35 on Friday, reaching $44.02. The stock had a trading volume of 633,349 shares, compared to its average volume of 730,647. Steven Madden, Ltd. has a 12-month low of $30.35 and a 12-month high of $45.91. The business’s 50-day moving average price is $43.39 and its two-hundred day moving average price is $42.23. The company has a market cap of $3.23 billion, a P/E ratio of 18.19 and a beta of 1.09.

Steven Madden (NASDAQ:SHOO) last released its earnings results on Wednesday, May 1st. The textile maker reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.09. The business had revenue of $552.38 million during the quarter, compared to analysts’ expectations of $525.04 million. Steven Madden had a net margin of 8.65% and a return on equity of 22.68%. The company’s quarterly revenue was up 19.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.50 earnings per share. As a group, analysts predict that Steven Madden, Ltd. will post 2.62 earnings per share for the current year.

Steven Madden Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Monday, June 10th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, June 10th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.91%. Steven Madden’s dividend payout ratio is currently 34.71%.

Analyst Ratings Changes

A number of equities analysts have recently commented on SHOO shares. Telsey Advisory Group reaffirmed a “market perform” rating and set a $44.00 target price on shares of Steven Madden in a research report on Thursday. BTIG Research raised their target price on shares of Steven Madden from $50.00 to $53.00 and gave the company a “buy” rating in a research note on Thursday, June 6th. Finally, Wedbush reiterated a “neutral” rating and set a $41.00 price objective on shares of Steven Madden in a research note on Friday. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $43.38.

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.