Carillon Tower Advisers Inc. Cuts Stake in Steven Madden, Ltd. (NASDAQ:SHOO)

Carillon Tower Advisers Inc. reduced its stake in Steven Madden, Ltd. (NASDAQ:SHOO) by 0.4% during the third quarter, according to its most recent filing with the SEC. The fund owned 1,604,997 shares of the textile maker’s stock after selling 6,134 shares during the quarter. Carillon Tower Advisers Inc.’s holdings in Steven Madden were worth $57,443,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Envestnet Asset Management Inc. boosted its holdings in shares of Steven Madden by 2.9% in the 3rd quarter. Envestnet Asset Management Inc. now owns 10,578 shares of the textile maker’s stock worth $379,000 after buying an additional 295 shares during the last quarter. First Mercantile Trust Co. boosted its holdings in shares of Steven Madden by 7.8% in the 3rd quarter. First Mercantile Trust Co. now owns 4,176 shares of the textile maker’s stock worth $149,000 after buying an additional 303 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its holdings in shares of Steven Madden by 1.7% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 23,380 shares of the textile maker’s stock worth $794,000 after buying an additional 400 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of Steven Madden by 97.1% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,015 shares of the textile maker’s stock worth $36,000 after buying an additional 500 shares during the last quarter. Finally, Arizona State Retirement System boosted its holdings in shares of Steven Madden by 0.4% in the 2nd quarter. Arizona State Retirement System now owns 121,138 shares of the textile maker’s stock worth $4,113,000 after buying an additional 540 shares during the last quarter. 96.53% of the stock is currently owned by institutional investors.

NASDAQ SHOO opened at $43.18 on Friday. Steven Madden, Ltd. has a 52 week low of $27.88 and a 52 week high of $43.91. The firm’s 50-day simple moving average is $36.74 and its two-hundred day simple moving average is $33.70. The company has a market cap of $3.63 billion, a PE ratio of 23.60, a price-to-earnings-growth ratio of 3.67 and a beta of 0.82.

Steven Madden (NASDAQ:SHOO) last issued its quarterly earnings results on Tuesday, October 29th. The textile maker reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.09. The business had revenue of $497.31 million for the quarter, compared to analysts’ expectations of $487.18 million. Steven Madden had a net margin of 7.71% and a return on equity of 20.01%. The business’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period last year, the business earned $0.65 earnings per share. As a group, equities research analysts expect that Steven Madden, Ltd. will post 1.94 EPS for the current fiscal year.

Several equities research analysts have commented on the stock. B. Riley set a $42.00 price objective on shares of Steven Madden and gave the company a “buy” rating in a report on Friday, July 19th. BidaskClub raised shares of Steven Madden from a “hold” rating to a “buy” rating in a report on Wednesday, September 4th. Telsey Advisory Group upped their price objective on shares of Steven Madden from $36.00 to $40.00 and gave the company a “market perform” rating in a report on Wednesday, October 30th. ValuEngine downgraded shares of Steven Madden from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 2nd. Finally, Loop Capital upped their price objective on shares of Steven Madden to $45.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $40.00.

In other Steven Madden news, President Amelia Varela sold 80,000 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $41.54, for a total transaction of $3,323,200.00. Following the completion of the transaction, the president now owns 231,276 shares of the company’s stock, valued at $9,607,205.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Karla Frieders sold 12,500 shares of the firm’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $42.76, for a total value of $534,500.00. Insiders sold 136,336 shares of company stock valued at $5,615,559 in the last ninety days. 1.96% of the stock is currently owned by insiders.

Steven Madden Company Profile

Steven Madden, Ltd. designs, sources, markets, and sells fashion-forward name brand and private label footwear for women, men, and children worldwide. Its Wholesale Footwear segment provides footwear under the Steve Madden Women's, Madden Girl, Steve Madden Men's, Madden, Madden NYC, Report, Dolce Vita, DV by Dolce Vita, Mad Love, Steven by Steve Madden, Superga, Betsey Johnson, Betseyville, Steve Madden Kids, Stevies, Brian Atwood, Blondo, Kate Spade, and Anne Klein brands, as well as private label footwear.

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

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