Dynamic Technology Lab Private Ltd Raises Holdings in Steven Madden, Ltd. (NASDAQ:SHOO)

Dynamic Technology Lab Private Ltd lifted its stake in Steven Madden, Ltd. (NASDAQ:SHOO) by 19.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 41,184 shares of the textile maker’s stock after purchasing an additional 6,738 shares during the quarter. Dynamic Technology Lab Private Ltd owned about 0.06% of Steven Madden worth $2,018,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Mackenzie Financial Corp raised its holdings in shares of 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 raised its stake in Steven Madden by 1.2% in the 3rd quarter. Louisiana State Employees Retirement System now owns 35,100 shares of the textile maker’s stock worth $1,720,000 after acquiring an additional 400 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in Steven Madden by 1.2% during 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 period. AlphaMark Advisors LLC grew its stake in Steven Madden by 7.4% during the 2nd quarter. AlphaMark Advisors LLC now owns 7,785 shares of the textile maker’s stock valued at $329,000 after purchasing an additional 535 shares during the last quarter. Finally, KBC Group NV increased its holdings in shares of Steven Madden by 34.1% in the third 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 period. 99.88% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SHOO has been the topic of a number of recent research reports. Citigroup upped their target price on Steven Madden from $43.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Needham & Company LLC started coverage on shares of Steven Madden in a report on Friday. They issued a “hold” rating on the stock. Piper Sandler reissued a “neutral” rating and set a $45.00 target price on shares of Steven Madden in a report on Friday, August 23rd. StockNews.com lowered shares of Steven Madden from a “buy” rating to a “hold” rating in a report on Sunday. Finally, Telsey Advisory Group reiterated a “market perform” rating and set a $50.00 price objective on shares of Steven Madden in a research note on Wednesday, November 13th. Eight investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $45.43.

Steven Madden Stock Up 4.6 %

NASDAQ:SHOO opened at $45.41 on Tuesday. Steven Madden, Ltd. has a 52 week low of $36.56 and a 52 week high of $50.01. The stock’s 50-day moving average price is $46.28 and its 200-day moving average price is $44.47. The stock has a market capitalization of $3.28 billion, a PE ratio of 19.32 and a beta of 1.08.

Steven Madden (NASDAQ:SHOO) last issued its quarterly earnings data 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 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%. Steven Madden’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same period last year, the company earned $0.88 earnings per share. Sell-side analysts expect that Steven Madden, Ltd. will post 2.65 earnings per share for the current fiscal year.

Steven Madden Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.85%. The ex-dividend date is Friday, December 13th. Steven Madden’s payout ratio is 35.74%.

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.