First Trust Advisors LP decreased its stake in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 30.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 30,418 shares of the textile maker’s stock after selling 13,477 shares during the quarter. First Trust Advisors LP owned about 0.05% of Steven Madden worth $1,215,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently made changes to their positions in SHOO. BlackRock Inc. grew its position in shares of Steven Madden by 148,882.3% during the 1st quarter. BlackRock Inc. now owns 6,921,716 shares of the textile maker’s stock worth $266,833,000 after buying an additional 6,917,070 shares during the period. Teachers Advisors LLC grew its position in shares of Steven Madden by 92.0% during the 1st quarter. Teachers Advisors LLC now owns 557,535 shares of the textile maker’s stock worth $21,493,000 after buying an additional 267,183 shares during the period. Vanguard Group Inc. grew its position in shares of Steven Madden by 4.6% during the 1st quarter. Vanguard Group Inc. now owns 4,809,629 shares of the textile maker’s stock worth $185,410,000 after buying an additional 211,878 shares during the period. MARSHALL WACE ASIA Ltd acquired a new stake in shares of Steven Madden during the 1st quarter worth approximately $7,774,000. Finally, Marshall Wace North America L.P. acquired a new stake in shares of Steven Madden during the 1st quarter worth approximately $7,774,000. 91.34% of the stock is owned by institutional investors.
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Shares of Steven Madden, Ltd. (NASDAQ SHOO) opened at 42.60 on Tuesday. Steven Madden, Ltd. has a 52-week low of $32.30 and a 52-week high of $43.80. The company has a 50-day moving average of $41.91 and a 200 day moving average of $39.24. The firm has a market cap of $2.52 billion, a P/E ratio of 20.51 and a beta of 0.51.
Steven Madden (NASDAQ:SHOO) last announced its earnings results on Tuesday, August 1st. The textile maker reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.06. The company had revenue of $374.15 million during the quarter, compared to the consensus estimate of $355.22 million. Steven Madden had a return on equity of 17.57% and a net margin of 8.19%. The firm’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.42 earnings per share. On average, equities analysts expect that Steven Madden, Ltd. will post $2.25 earnings per share for the current year.
Several analysts have recently commented on the stock. Telsey Advisory Group reaffirmed an “outperform” rating and set a $45.00 price objective (up previously from $41.00) on shares of Steven Madden in a research report on Tuesday, August 8th. Zacks Investment Research raised shares of Steven Madden from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a research report on Friday, August 18th. B. Riley reaffirmed a “buy” rating and set a $47.00 price objective on shares of Steven Madden in a research report on Tuesday, August 8th. Morgan Stanley raised their price objective on shares of Steven Madden from $37.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Tuesday, June 6th. Finally, BidaskClub downgraded shares of Steven Madden from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $43.96.
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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