Fortaleza Asset Management Inc. acquired a new stake in Steven Madden, Ltd. (NASDAQ:SHOO) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 3,660 shares of the textile maker’s stock, valued at approximately $158,000.
A number of other large investors also recently modified their holdings of SHOO. BlackRock Inc. lifted its stake in Steven Madden by 148,882.3% in the 1st quarter. BlackRock Inc. now owns 6,921,716 shares of the textile maker’s stock valued at $266,833,000 after purchasing an additional 6,917,070 shares during the last quarter. 1060 Capital LLC acquired a new position in Steven Madden in the 2nd quarter valued at approximately $24,372,000. Wells Fargo & Company MN increased its position in Steven Madden by 386.5% in the 2nd quarter. Wells Fargo & Company MN now owns 698,957 shares of the textile maker’s stock valued at $27,924,000 after acquiring an additional 555,283 shares during the period. Macquarie Group Ltd. increased its position in Steven Madden by 16.2% in the 2nd quarter. Macquarie Group Ltd. now owns 2,250,031 shares of the textile maker’s stock valued at $89,889,000 after acquiring an additional 314,205 shares during the period. Finally, Teachers Advisors LLC increased its position in Steven Madden by 92.0% in the 1st quarter. Teachers Advisors LLC now owns 557,535 shares of the textile maker’s stock valued at $21,493,000 after acquiring an additional 267,183 shares during the period. 91.15% of the stock is owned by institutional investors and hedge funds.
Steven Madden, Ltd. (NASDAQ SHOO) traded down 8.29% during midday trading on Tuesday, hitting $39.25. 799,852 shares of the stock traded hands. Steven Madden, Ltd. has a 52 week low of $33.50 and a 52 week high of $44.40. The company has a market capitalization of $2.32 billion, a price-to-earnings ratio of 18.90 and a beta of 0.51. The stock’s 50-day moving average price is $42.21 and its 200 day moving average price is $40.24.
Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings results on Monday, October 30th. The textile maker reported $0.77 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.77. Steven Madden had a net margin of 8.19% and a return on equity of 17.57%. The company had revenue of $441.19 million during the quarter, compared to analyst estimates of $441.03 million. During the same period in the prior year, the business posted $0.74 EPS. The firm’s revenue was up 8.0% compared to the same quarter last year. On average, equities research analysts predict that Steven Madden, Ltd. will post $2.25 EPS for the current year.
Several equities analysts have issued reports on the stock. B. Riley set a $47.00 price target on shares of Steven Madden and gave the company a “buy” rating in a research report on Thursday, October 26th. Canaccord Genuity set a $47.00 price target on shares of Steven Madden and gave the company a “buy” rating in a research report on Tuesday, October 24th. Susquehanna Bancshares Inc restated a “buy” rating and issued a $48.00 price target on shares of Steven Madden in a research report on Monday, October 23rd. Zacks Investment Research cut shares of Steven Madden from a “hold” rating to a “sell” rating in a research report on Wednesday, October 18th. Finally, ValuEngine cut shares of Steven Madden from a “buy” rating to a “hold” rating in a research report on Thursday, October 5th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. Steven Madden has a consensus rating of “Hold” and a consensus target price of $44.29.
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About Steven Madden
Steven Madden, Ltd. and its subsidiaries design, source, market and sell name brand and private label footwear for women, men and children, and name brand and private label fashion handbags and accessories. The Company operates through five segments: Wholesale Footwear, Wholesale Accessories, Retail, First Cost and Licensing.
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