Neumeier Poma Investment Counsel LLC lowered its position in Steven Madden, Ltd. (NASDAQ:SHOO) by 0.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 840,328 shares of the textile maker’s stock after selling 1,615 shares during the period. Steven Madden comprises 3.8% of Neumeier Poma Investment Counsel LLC’s holdings, making the stock its 6th largest position. Neumeier Poma Investment Counsel LLC owned 1.44% of Steven Madden worth $36,890,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SHOO. Macquarie Group Ltd. lifted its stake in Steven Madden by 11.0% in the 4th quarter. Macquarie Group Ltd. now owns 2,713,069 shares of the textile maker’s stock valued at $126,700,000 after purchasing an additional 269,647 shares during the last quarter. Eagle Asset Management Inc. increased its holdings in shares of Steven Madden by 5.8% during the first quarter. Eagle Asset Management Inc. now owns 1,783,712 shares of the textile maker’s stock worth $78,304,000 after purchasing an additional 98,063 shares during the period. Dimensional Fund Advisors LP increased its stake in Steven Madden by 0.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,723,829 shares of the textile maker’s stock valued at $75,676,000 after acquiring an additional 6,574 shares during the last quarter. Boston Partners increased its stake in Steven Madden by 9.1% in the fourth quarter. Boston Partners now owns 1,222,193 shares of the textile maker’s stock valued at $57,076,000 after acquiring an additional 102,310 shares during the last quarter. Finally, Carillon Tower Advisers Inc. bought a new position in Steven Madden in the fourth quarter valued at approximately $54,097,000. Institutional investors and hedge funds own 94.91% of the company’s stock.
In related news, President Amelia Varela sold 100,000 shares of the business’s stock in a transaction on Thursday, May 17th. The shares were sold at an average price of $50.69, for a total value of $5,069,000.00. Following the sale, the president now owns 208,084 shares in the company, valued at $10,547,777.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Peter Migliorini sold 1,000 shares of the business’s stock in a transaction on Monday, June 11th. The stock was sold at an average price of $54.18, for a total transaction of $54,180.00. Following the completion of the sale, the director now owns 6,826 shares in the company, valued at approximately $369,832.68. The disclosure for this sale can be found here. In the last three months, insiders sold 116,000 shares of company stock worth $5,890,240. 1.77% of the stock is currently owned by insiders.
A number of brokerages have weighed in on SHOO. Telsey Advisory Group raised their target price on shares of Steven Madden from $55.00 to $61.00 and gave the company an “outperform” rating in a research report on Wednesday, June 6th. Canaccord Genuity boosted their target price on shares of Steven Madden from $54.00 to $59.00 and gave the company a “buy” rating in a report on Thursday, June 7th. Zacks Investment Research downgraded shares of Steven Madden from a “buy” rating to a “hold” rating in a research note on Saturday, June 9th. B. Riley set a $55.00 target price on shares of Steven Madden and gave the stock a “buy” rating in a research report on Monday, April 23rd. Finally, Buckingham Research set a $54.00 price objective on shares of Steven Madden and gave the stock a “buy” rating in a research report on Tuesday, April 24th. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Steven Madden has an average rating of “Buy” and an average price target of $51.27.
NASDAQ:SHOO opened at $54.17 on Tuesday. Steven Madden, Ltd. has a 12 month low of $37.25 and a 12 month high of $55.50. The stock has a market capitalization of $3.15 billion, a PE ratio of 24.18, a P/E/G ratio of 1.87 and a beta of 0.46.
Steven Madden (NASDAQ:SHOO) last released its quarterly earnings data on Friday, April 20th. The textile maker reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.04. Steven Madden had a net margin of 8.06% and a return on equity of 16.75%. The business had revenue of $389.00 million during the quarter, compared to analyst estimates of $379.67 million. During the same period last year, the business earned $0.47 EPS. Steven Madden’s revenue was up 6.2% compared to the same quarter last year. research analysts predict that Steven Madden, Ltd. will post 2.7 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Tuesday, June 12th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date of this dividend is Monday, June 11th. Steven Madden’s payout ratio is 35.71%.
Steven Madden Profile
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.