Victory Capital Management Inc. Has $40.57 Million Stock Position in Steven Madden, Ltd. (NASDAQ:SHOO)

Victory Capital Management Inc. reduced its stake in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 0.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 828,114 shares of the textile maker’s stock after selling 1,625 shares during the quarter. Victory Capital Management Inc.’s holdings in Steven Madden were worth $40,569,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Capital Research Global Investors grew its holdings in shares of Steven Madden by 8.6% during the 1st quarter. Capital Research Global Investors now owns 1,856,001 shares of the textile maker’s stock worth $78,472,000 after purchasing an additional 146,324 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Steven Madden by 0.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 873,682 shares of the textile maker’s stock worth $36,957,000 after purchasing an additional 5,451 shares in the last quarter. abrdn plc grew its holdings in shares of Steven Madden by 2.7% during the 3rd quarter. abrdn plc now owns 558,015 shares of the textile maker’s stock worth $27,242,000 after purchasing an additional 14,841 shares in the last quarter. Fort Washington Investment Advisors Inc. OH grew its holdings in shares of Steven Madden by 10.1% during the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 501,457 shares of the textile maker’s stock worth $21,212,000 after purchasing an additional 45,910 shares in the last quarter. Finally, Leeward Investments LLC MA grew its holdings in shares of Steven Madden by 5.6% during the 2nd quarter. Leeward Investments LLC MA now owns 312,740 shares of the textile maker’s stock worth $13,229,000 after purchasing an additional 16,529 shares in the last quarter. 99.88% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Steven Madden Trading Down 1.6 %

Steven Madden stock opened at $43.23 on Friday. The company 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 12 month low of $35.64 and a 12 month high of $50.01. The stock has a 50-day moving average price of $46.43 and a two-hundred day moving average price of $44.30.

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

Steven Madden Dividend Announcement

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

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.