Steven Madden, Ltd. (SHOO) Holdings Boosted by Stifel Financial Corp
Stifel Financial Corp boosted its holdings in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 16.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 228,454 shares of the textile maker’s stock after purchasing an additional 31,785 shares during the quarter. Stifel Financial Corp owned approximately 0.39% of Steven Madden worth $9,154,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Riverhead Capital Management LLC grew its holdings in Steven Madden by 97.1% in the second 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 stake in shares of Steven Madden in the second quarter valued at approximately $127,000. First Mercantile Trust Co. increased its position in shares of Steven Madden by 1.7% in the second quarter. First Mercantile Trust Co. now owns 3,570 shares of the textile maker’s stock valued at $143,000 after buying an additional 60 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of 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 worth $176,000 after buying an additional 403 shares during the period. Finally, IFP Advisors Inc raised its stake in shares of Steven Madden by 3,804.2% during the 2nd quarter. IFP Advisors Inc now owns 4,607 shares of the textile maker’s stock worth $184,000 after buying an additional 4,489 shares during the period. 91.32% of the stock is currently owned by institutional investors.
Shares of Steven Madden, Ltd. (NASDAQ:SHOO) opened at 43.20 on Wednesday. Steven Madden, Ltd. has a 52 week low of $32.30 and a 52 week high of $43.80. The firm has a market cap of $2.56 billion, a PE ratio of 20.80 and a beta of 0.51. The firm’s 50-day moving average is $42.03 and its 200 day moving average is $39.62.
Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings results on Tuesday, August 1st. The textile maker reported $0.51 EPS for the quarter, topping the Thomson Reuters’ 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 return on equity of 17.57% and a net margin of 8.19%. The company’s quarterly revenue was up 15.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.42 EPS. Equities research analysts forecast that Steven Madden, Ltd. will post $2.25 EPS for the current year.
A number of research analysts have recently issued reports on SHOO shares. Zacks Investment Research upgraded Steven Madden from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a research report on Thursday, September 28th. ValuEngine raised shares of Steven Madden from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target 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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