Steven Madden, Ltd. (NASDAQ:SHOO) Shares Sold by Eagle Asset Management Inc.

Eagle Asset Management Inc. cut its holdings in Steven Madden, Ltd. (NASDAQ:SHOO) by 24.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 209,218 shares of the textile maker’s stock after selling 67,908 shares during the period. Eagle Asset Management Inc. owned about 0.29% of Steven Madden worth $9,337,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of SHOO. Harbor Capital Advisors Inc. boosted its stake in Steven Madden by 273.4% in the second quarter. Harbor Capital Advisors Inc. now owns 48,840 shares of the textile maker’s stock valued at $2,066,000 after acquiring an additional 35,761 shares during the period. Jane Street Group LLC boosted its position in Steven Madden by 36.9% during the 1st quarter. Jane Street Group LLC now owns 183,423 shares of the textile maker’s stock valued at $7,755,000 after purchasing an additional 49,432 shares during the period. Nicholas Investment Partners LP bought a new position in Steven Madden during the 2nd quarter worth $4,863,000. Landscape Capital Management L.L.C. acquired a new stake in Steven Madden in the third quarter worth $2,614,000. Finally, Vest Financial LLC bought a new stake in Steven Madden in the second quarter valued at $1,074,000. Institutional investors own 99.88% of the company’s stock.

Steven Madden Price Performance

Steven Madden stock opened at $43.40 on Friday. Steven Madden, Ltd. has a 12-month low of $36.56 and a 12-month high of $50.01. The stock has a market capitalization of $3.13 billion, a PE ratio of 18.47 and a beta of 1.08. The firm has a 50 day simple moving average of $46.29 and a 200-day simple moving average of $44.42.

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

Steven Madden Dividend Announcement

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

Analysts Set New Price Targets

Several research firms have recently commented on SHOO. Needham & Company LLC started coverage on shares of Steven Madden in a research report on Friday. They set a “hold” rating for the company. Citigroup upped their target price on shares of 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 issued a $50.00 price target on shares of Steven Madden in a research note on Wednesday, November 13th. StockNews.com downgraded Steven Madden from a “buy” rating to a “hold” rating in a research report on Sunday. Finally, Wedbush restated a “neutral” rating and issued a $41.00 target price on shares of Steven Madden in a research report on Wednesday, August 7th. Eight research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Steven Madden presently has a consensus rating of “Hold” and a consensus 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.