Schroder Investment Management Group Sells 190,796 Shares of Steven Madden, Ltd. (SHOO)

Schroder Investment Management Group trimmed its stake in Steven Madden, Ltd. (NASDAQ:SHOO) by 29.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 454,884 shares of the textile maker’s stock after selling 190,796 shares during the period. Schroder Investment Management Group’s holdings in Steven Madden were worth $24,064,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SHOO. BlackRock Inc. boosted its position in Steven Madden by 4.8% during the third quarter. BlackRock Inc. now owns 7,857,413 shares of the textile maker’s stock valued at $415,657,000 after acquiring an additional 358,319 shares during the last quarter. Victory Capital Management Inc. boosted its position in Steven Madden by 131.6% during the second quarter. Victory Capital Management Inc. now owns 1,949,545 shares of the textile maker’s stock valued at $103,520,000 after acquiring an additional 1,107,668 shares during the last quarter. Eagle Asset Management Inc. boosted its position in Steven Madden by 2.8% during the second quarter. Eagle Asset Management Inc. now owns 1,834,111 shares of the textile maker’s stock valued at $97,391,000 after acquiring an additional 50,399 shares during the last quarter. Jennison Associates LLC boosted its position in Steven Madden by 35.7% during the second quarter. Jennison Associates LLC now owns 1,311,602 shares of the textile maker’s stock valued at $69,646,000 after acquiring an additional 345,001 shares during the last quarter. Finally, Carillon Tower Advisers Inc. boosted its position in Steven Madden by 3.0% during the second quarter. Carillon Tower Advisers Inc. now owns 1,271,044 shares of the textile maker’s stock valued at $67,492,000 after acquiring an additional 36,524 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

In related news, Director Rose Peabody Lynch sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, September 18th. The shares were sold at an average price of $57.27, for a total value of $143,175.00. Following the transaction, the director now owns 7,103 shares of the company’s stock, valued at approximately $406,788.81. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Karla Frieders sold 7,000 shares of the firm’s stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $56.89, for a total transaction of $398,230.00. Following the completion of the transaction, the insider now directly owns 75,280 shares in the company, valued at approximately $4,282,679.20. The disclosure for this sale can be found here. Insiders have sold a total of 11,500 shares of company stock worth $604,325 in the last three months. Insiders own 1.77% of the company’s stock.

A number of analysts have commented on the stock. Loop Capital raised shares of Steven Madden from a “hold” rating to a “buy” rating and set a $49.00 price target on the stock in a research report on Tuesday, October 30th. Wedbush cut their price target on shares of Steven Madden from $55.00 to $31.00 and set a “neutral” rating on the stock in a research report on Thursday, October 25th. Wells Fargo & Co cut their price target on shares of Steven Madden from $50.00 to $30.00 and set a “market perform” rating on the stock in a research report on Monday, October 22nd. Zacks Investment Research cut shares of Steven Madden from a “hold” rating to a “sell” rating in a research report on Friday, October 19th. Finally, Citigroup cut their price objective on shares of Steven Madden from $40.67 to $38.00 and set a “buy” rating on the stock in a research report on Friday, October 19th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $37.52.

SHOO stock opened at $32.23 on Friday. The stock has a market cap of $2.82 billion, a PE ratio of 21.63, a P/E/G ratio of 1.69 and a beta of 0.66. Steven Madden, Ltd. has a 1 year low of $27.43 and a 1 year high of $39.30.

Steven Madden (NASDAQ:SHOO) last released its quarterly earnings data on Tuesday, October 30th. The textile maker reported $0.65 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.04. The company had revenue of $458.48 million for the quarter, compared to analysts’ expectations of $472.80 million. Steven Madden had a net margin of 8.79% and a return on equity of 18.05%. The business’s revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.77 EPS. On average, research analysts forecast that Steven Madden, Ltd. will post 1.79 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 31st. Stockholders of record on Friday, December 21st will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date is Thursday, December 20th. This is a boost from Steven Madden’s previous quarterly dividend of $0.13. Steven Madden’s dividend payout ratio is 35.57%.

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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.

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Institutional Ownership by Quarter for Steven Madden (NASDAQ:SHOO)

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