PNC Financial Services Group Inc. Has $763,000 Stake in Steven Madden, Ltd. (SHOO)

PNC Financial Services Group Inc. lifted its stake in Steven Madden, Ltd. (NASDAQ:SHOO) by 1.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,118 shares of the textile maker’s stock after buying an additional 189 shares during the period. PNC Financial Services Group Inc.’s holdings in Steven Madden were worth $763,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Riverhead Capital Management LLC increased its holdings in Steven Madden by 97.1% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,562 shares of the textile maker’s stock valued at $102,000 after purchasing an additional 1,262 shares during the period. Meeder Asset Management Inc. purchased a new position in Steven Madden during the 2nd quarter valued at about $127,000. First Mercantile Trust Co. increased its holdings in Steven Madden by 1.7% during the 2nd quarter. First Mercantile Trust Co. now owns 3,570 shares of the textile maker’s stock valued at $143,000 after purchasing an additional 60 shares during the period. Public Employees Retirement System of Ohio increased its holdings in Steven Madden by 9.7% during the 1st quarter. Public Employees Retirement System of Ohio now owns 4,575 shares of the textile maker’s stock valued at $176,000 after purchasing an additional 403 shares during the period. Finally, IFP Advisors Inc increased its holdings in Steven Madden by 3,804.2% during the 2nd quarter. IFP Advisors Inc now owns 4,607 shares of the textile maker’s stock valued at $184,000 after purchasing an additional 4,489 shares during the period. Hedge funds and other institutional investors own 91.32% of the company’s stock.

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Steven Madden, Ltd. (NASDAQ SHOO) opened at 41.30 on Thursday. Steven Madden, Ltd. has a 12-month low of $32.30 and a 12-month high of $43.80. The firm’s 50 day moving average price is $42.18 and its 200-day moving average price is $39.80. The stock has a market cap of $2.44 billion, a P/E ratio of 19.88 and a beta of 0.51.

Steven Madden (NASDAQ:SHOO) last issued its earnings results on Tuesday, August 1st. The textile maker reported $0.51 EPS for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.06. The business had revenue of $374.15 million for the quarter, compared to analyst estimates of $355.22 million. Steven Madden had a net margin of 8.19% and a return on equity of 17.57%. The company’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same period last year, the company posted $0.42 earnings per share. Equities research analysts anticipate that Steven Madden, Ltd. will post $2.25 earnings per share for the current fiscal year.

A number of research analysts recently issued reports on SHOO shares. Zacks Investment Research downgraded Steven Madden from a “buy” rating to a “hold” rating in a report on Wednesday, September 6th. BidaskClub upgraded Steven Madden from a “hold” rating to a “buy” rating in a report on Wednesday, July 5th. Canaccord Genuity set a $47.00 price target on Steven Madden and gave the company a “buy” rating in a report on Tuesday, August 15th. ValuEngine upgraded Steven Madden from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Finally, Piper Jaffray Companies restated a “buy” rating and set a $44.00 price target on shares of Steven Madden in a report on Wednesday, July 26th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $43.96.

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

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