Steven Madden, Ltd. (SHOO) Position Reduced by Royce & Associates LP

Royce & Associates LP cut its holdings in Steven Madden, Ltd. (NASDAQ:SHOO) by 32.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 448,906 shares of the textile maker’s stock after selling 218,574 shares during the period. Royce & Associates LP owned 0.76% of Steven Madden worth $19,438,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Macquarie Group Ltd. lifted its stake in Steven Madden by 8.6% during the third quarter. Macquarie Group Ltd. now owns 2,443,422 shares of the textile maker’s stock worth $105,800,000 after purchasing an additional 193,391 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Steven Madden by 2.3% during the third quarter. Dimensional Fund Advisors LP now owns 1,691,671 shares of the textile maker’s stock worth $73,248,000 after purchasing an additional 37,264 shares in the last quarter. Eagle Asset Management Inc. lifted its stake in Steven Madden by 0.5% during the third quarter. Eagle Asset Management Inc. now owns 1,641,855 shares of the textile maker’s stock worth $70,681,000 after purchasing an additional 8,679 shares in the last quarter. State Street Corp lifted its stake in Steven Madden by 5.2% during the second quarter. State Street Corp now owns 1,505,434 shares of the textile maker’s stock worth $60,144,000 after purchasing an additional 75,022 shares in the last quarter. Finally, Royal Bank of Canada lifted its stake in Steven Madden by 2.0% during the second quarter. Royal Bank of Canada now owns 1,177,884 shares of the textile maker’s stock worth $47,056,000 after purchasing an additional 23,334 shares in the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

A number of research firms have commented on SHOO. Wedbush began coverage on Steven Madden in a research note on Monday, August 14th. They set an “outperform” rating and a $48.00 price target on the stock. ValuEngine cut Steven Madden from a “buy” rating to a “hold” rating in a research note on Thursday, October 5th. Canaccord Genuity set a $47.00 price target on Steven Madden and gave the stock a “buy” rating in a research note on Thursday, November 30th. Zacks Investment Research upgraded Steven Madden from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a research note on Thursday, September 28th. Finally, Piper Jaffray Companies set a $43.00 price target on Steven Madden and gave the stock a “buy” rating in a research note on Tuesday, October 31st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $45.41.

Shares of Steven Madden, Ltd. (NASDAQ SHOO) opened at $44.10 on Monday. The stock has a market capitalization of $2,606.44, a price-to-earnings ratio of 19.69, a PEG ratio of 1.66 and a beta of 0.52. Steven Madden, Ltd. has a 52 week low of $33.50 and a 52 week high of $44.90.

Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings data on Tuesday, October 31st. The textile maker reported $0.77 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.77. The business had revenue of $441.19 million for the quarter, compared to analysts’ expectations of $441.03 million. Steven Madden had a return on equity of 17.21% and a net margin of 8.04%. The company’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period last year, the firm earned $0.74 earnings per share. research analysts expect that Steven Madden, Ltd. will post 2.21 EPS for the current fiscal year.

In other news, Director Richard P. Randall sold 2,000 shares of the stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $38.05, for a total value of $76,100.00. Following the sale, the director now directly owns 22,809 shares in the company, valued at $867,882.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President Amelia Varela sold 25,000 shares of the stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $42.78, for a total value of $1,069,500.00. Following the completion of the sale, the president now owns 113,007 shares in the company, valued at $4,834,439.46. The disclosure for this sale can be found here. Over the last quarter, insiders sold 27,500 shares of company stock worth $1,167,405. Insiders own 2.06% of the company’s stock.

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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.

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

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