Atria Wealth Solutions Inc. Acquires Shares of 8,993 Steven Madden, Ltd. $SHOO

Atria Wealth Solutions Inc. acquired a new stake in shares of Steven Madden, Ltd. (NASDAQ:SHOO) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 8,993 shares of the textile maker’s stock, valued at approximately $216,000.

A number of other large investors have also added to or reduced their stakes in SHOO. Nuveen LLC purchased a new position in Steven Madden during the first quarter valued at $23,334,000. Millennium Management LLC raised its stake in Steven Madden by 1,170.4% during the first quarter. Millennium Management LLC now owns 617,049 shares of the textile maker’s stock valued at $16,438,000 after buying an additional 568,477 shares during the last quarter. Federated Hermes Inc. raised its stake in Steven Madden by 270,516.2% during the first quarter. Federated Hermes Inc. now owns 533,114 shares of the textile maker’s stock valued at $14,202,000 after buying an additional 532,917 shares during the last quarter. Victory Capital Management Inc. raised its stake in Steven Madden by 46.5% during the first quarter. Victory Capital Management Inc. now owns 1,212,373 shares of the textile maker’s stock valued at $32,298,000 after buying an additional 384,979 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in Steven Madden by 29.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,455,381 shares of the textile maker’s stock valued at $39,907,000 after buying an additional 332,689 shares during the last quarter. Hedge funds and other institutional investors own 99.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on SHOO shares. Needham & Company LLC reissued a “hold” rating on shares of Steven Madden in a report on Wednesday, July 30th. UBS Group lifted their target price on Steven Madden from $23.00 to $26.00 and gave the stock a “neutral” rating in a report on Monday, July 28th. Citigroup reissued a “buy” rating and issued a $41.00 target price (up previously from $32.00) on shares of Steven Madden in a report on Friday, October 17th. Telsey Advisory Group reissued a “market perform” rating and issued a $26.00 target price (up previously from $24.00) on shares of Steven Madden in a report on Wednesday, July 30th. Finally, Piper Sandler raised Steven Madden from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $25.00 to $40.00 in a report on Monday, September 22nd. Three analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Steven Madden presently has an average rating of “Hold” and an average target price of $34.67.

Steven Madden Stock Performance

Shares of SHOO opened at $34.48 on Thursday. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.01 and a quick ratio of 1.13. Steven Madden, Ltd. has a one year low of $19.05 and a one year high of $46.99. The firm has a market capitalization of $2.50 billion, a P/E ratio of 27.15 and a beta of 1.22. The business has a fifty day moving average of $31.56 and a 200 day moving average of $26.62.

Steven Madden (NASDAQ:SHOO) last issued its quarterly earnings data on Wednesday, July 30th. The textile maker reported $0.20 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.04). Steven Madden had a return on equity of 18.32% and a net margin of 3.92%.The firm had revenue of $556.09 million during the quarter, compared to the consensus estimate of $575.83 million. During the same period in the previous year, the firm earned $0.57 EPS. The business’s revenue was up 6.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Steven Madden, Ltd. will post 2.66 EPS for the current year.

Steven Madden Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 23rd. Investors of record on Friday, September 12th were given a dividend of $0.21 per share. The ex-dividend date was Friday, September 12th. This represents a $0.84 annualized dividend and a yield of 2.4%. Steven Madden’s payout ratio is 66.14%.

Steven Madden Company Profile

Steven Madden, Ltd. designs, sources, and markets fashion-forward branded and private label footwear, accessories, and apparel in the United States and internationally. It operates through Wholesale Footwear, Wholesale Accessories/Apparel, Direct-to- Consumer, and Licensing segments. The Wholesale Footwear segment designs, sources, and markets various products, including dress shoes, boots, booties, fashion sneakers, sandals, and casual shoes under the Steve Madden, Dolce Vita, Betsey Johnson, Blondo, GREATS, and Anne Klein brands.