Gladius Capital Management LP Makes New $36,000 Investment in Steven Madden, Ltd. (NASDAQ:SHOO)

Gladius Capital Management LP purchased a new stake in shares of Steven Madden, Ltd. (NASDAQ:SHOO) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 725 shares of the textile maker’s stock, valued at approximately $36,000.

Other large investors have also recently modified their holdings of the company. Mackenzie Financial Corp raised its holdings in Steven Madden by 3.1% in the second quarter. Mackenzie Financial Corp now owns 8,232 shares of the textile maker’s stock worth $348,000 after buying an additional 248 shares during the last quarter. Louisiana State Employees Retirement System increased its position in shares of Steven Madden by 1.2% during the third quarter. Louisiana State Employees Retirement System now owns 35,100 shares of the textile maker’s stock valued at $1,720,000 after acquiring an additional 400 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Steven Madden by 1.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 40,141 shares of the textile maker’s stock worth $1,698,000 after acquiring an additional 484 shares during the last quarter. AlphaMark Advisors LLC lifted its position in Steven Madden by 7.4% in the 2nd quarter. AlphaMark Advisors LLC now owns 7,785 shares of the textile maker’s stock valued at $329,000 after acquiring an additional 535 shares in the last quarter. Finally, KBC Group NV boosted its stake in Steven Madden by 34.1% during the 3rd quarter. KBC Group NV now owns 2,208 shares of the textile maker’s stock valued at $108,000 after purchasing an additional 561 shares during the last quarter. Hedge funds and other institutional investors own 99.88% of the company’s stock.

Steven Madden Stock Performance

NASDAQ SHOO opened at $43.23 on Friday. The business’s 50 day moving average price is $46.43 and its 200-day moving average price is $44.32. Steven Madden, Ltd. has a fifty-two week low of $35.64 and a fifty-two week high of $50.01. The company has a market cap of $3.12 billion, a P/E ratio of 18.40 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 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.02. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. The firm had revenue of $624.68 million during the quarter, compared to analysts’ expectations of $607.89 million. During the same period in the previous year, the company earned $0.88 EPS. The firm’s revenue for the quarter was up 13.0% compared to the same quarter last year. As a group, equities analysts predict that Steven Madden, Ltd. will post 2.65 EPS for the current year.

Steven Madden Announces Dividend

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 issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend is Friday, December 13th. Steven Madden’s payout ratio is presently 35.74%.

Wall Street Analyst Weigh In

SHOO has been the subject of several recent analyst reports. Wedbush restated a “neutral” rating and issued a $41.00 price target on shares of Steven Madden in a research note on Wednesday, August 7th. Piper Sandler reissued a “neutral” rating and issued a $45.00 target price on shares of Steven Madden in a report on Friday, August 23rd. Telsey Advisory Group restated a “market perform” rating and set a $50.00 price target on shares of Steven Madden in a research note on Wednesday. Citigroup raised their price objective on shares of Steven Madden from $43.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Finally, StockNews.com raised Steven Madden from a “hold” rating to a “buy” rating in a report on Saturday. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Steven Madden currently has an average rating of “Hold” and an average target price of $45.43.

About Steven Madden

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.