Principal Financial Group Inc. Has $17.13 Million Stake in Steven Madden, Ltd. (SHOO)

Principal Financial Group Inc. raised its stake in Steven Madden, Ltd. (NASDAQ:SHOO) by 2.3% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 444,475 shares of the textile maker’s stock after buying an additional 10,195 shares during the period. Principal Financial Group Inc. owned about 0.80% of Steven Madden worth $17,134,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Norges Bank purchased a new position in shares of Steven Madden during the fourth quarter worth about $26,293,000. Stifel Financial Corp boosted its position in shares of Steven Madden by 221.1% in the first quarter. Stifel Financial Corp now owns 196,669 shares of the textile maker’s stock worth $7,608,000 after buying an additional 135,427 shares in the last quarter. Macquarie Group Ltd. boosted its position in shares of Steven Madden by 6.9% in the fourth quarter. Macquarie Group Ltd. now owns 1,799,606 shares of the textile maker’s stock worth $64,336,000 after buying an additional 116,471 shares in the last quarter. State Street Corp boosted its position in shares of Steven Madden by 5.3% in the fourth quarter. State Street Corp now owns 1,335,937 shares of the textile maker’s stock worth $47,761,000 after buying an additional 67,187 shares in the last quarter. Finally, Russell Investments Group Ltd. purchased a new position in shares of Steven Madden during the fourth quarter worth about $2,246,000. Institutional investors own 92.85% of the company’s stock.

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

Steven Madden, Ltd. (SHOO) opened at 38.00 on Friday. Steven Madden, Ltd. has a 12-month low of $32.14 and a 12-month high of $40.75. The firm has a market cap of $2.26 billion, a PE ratio of 19.05 and a beta of 0.39. The stock has a 50 day moving average of $38.36 and a 200 day moving average of $37.25.

Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings data on Friday, April 21st. The textile maker reported $0.47 EPS for the quarter, topping the consensus estimate of $0.43 by $0.04. The company had revenue of $366.40 million during the quarter, compared to the consensus estimate of $359.52 million. Steven Madden had a net margin of 8.17% and a return on equity of 17.17%. The company’s quarterly revenue was up 11.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.33 EPS. On average, equities research analysts anticipate that Steven Madden, Ltd. will post $2.19 EPS for the current fiscal year.

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SHOO has been the subject of a number of analyst reports. Canaccord Genuity restated a “buy” rating and set a $45.00 price objective on shares of Steven Madden in a report on Wednesday, April 19th. Citigroup Inc. boosted their price objective on shares of Steven Madden from $44.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday, April 25th. Zacks Investment Research cut shares of Steven Madden from a “buy” rating to a “hold” rating in a report on Wednesday, April 19th. Piper Jaffray Companies upgraded shares of Steven Madden from a “neutral” rating to an “overweight” rating and set a $41.00 price objective for the company in a report on Thursday, February 23rd. Finally, B. Riley restated a “buy” rating and set a $45.00 price objective on shares of Steven Madden in a report on Monday, April 24th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $41.09.

In other news, Director Richard P. Randall sold 2,454 shares of the firm’s stock in a transaction that occurred on Wednesday, April 26th. The shares were sold at an average price of $38.48, for a total transaction of $94,429.92. Following the completion of the sale, the director now owns 24,551 shares of the company’s stock, valued at approximately $944,722.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Rose Peabody Lynch sold 2,240 shares of the firm’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $39.32, for a total transaction of $88,076.80. Following the sale, the director now directly owns 4,754 shares of the company’s stock, valued at approximately $186,927.28. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 125,194 shares of company stock valued at $4,927,107. Insiders own 2.20% of the company’s stock.

Steven Madden Company Profile

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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