Tidal Investments LLC Increases Stock Holdings in Steven Madden, Ltd. (NASDAQ:SHOO)

Tidal Investments LLC grew its holdings in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 15.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,375 shares of the textile maker’s stock after purchasing an additional 2,278 shares during the period. Tidal Investments LLC’s holdings in Steven Madden were worth $851,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Gladius Capital Management LP acquired a new position in shares of Steven Madden in the third quarter valued at approximately $36,000. Blue Trust Inc. boosted its position in Steven Madden by 9,166.7% in the 2nd 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. Exchange Traded Concepts LLC acquired a new position in shares of Steven Madden in the third quarter worth $59,000. GAMMA Investing LLC increased its position in shares of Steven Madden by 80.6% during the third quarter. GAMMA Investing LLC now owns 1,329 shares of the textile maker’s stock worth $65,000 after acquiring an additional 593 shares during the period. Finally, International Assets Investment Management LLC raised its stake in shares of Steven Madden by 4,800.0% in the third 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. 99.88% of the stock is currently owned by hedge funds and other institutional investors.

Steven Madden Stock Performance

SHOO opened at $42.83 on Friday. The stock has a market capitalization of $3.09 billion, a P/E ratio of 18.23 and a beta of 1.07. Steven Madden, Ltd. has a one year low of $37.99 and a one year high of $50.01. The business’s 50-day simple moving average is $44.93 and its 200-day simple moving average is $44.67.

Steven Madden (NASDAQ:SHOO) last released its quarterly earnings results on Thursday, November 7th. The textile maker reported $0.91 EPS for the quarter, topping the consensus estimate 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 return on equity of 23.41% and a net margin of 7.68%. The firm’s revenue was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.88 earnings per share. On average, equities research analysts forecast that Steven Madden, Ltd. will post 2.66 EPS for the current fiscal year.

Steven Madden Announces Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SHOO. Needham & Company LLC restated a “hold” rating on shares of Steven Madden in a report on Thursday, December 5th. Telsey Advisory Group restated a “market perform” rating and set a $50.00 target price 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 Thursday. Citigroup boosted their price target on shares of Steven Madden from $43.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Finally, 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. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Steven Madden has an average rating of “Hold” and an average target price of $45.43.

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.