Wellington Management Group LLP Sells 383,517 Shares of Steven Madden, Ltd. $SHOO

Wellington Management Group LLP reduced its stake in Steven Madden, Ltd. (NASDAQ:SHOO) by 21.0% during the second quarter, HoldingsChannel reports. The fund owned 1,441,358 shares of the textile maker’s stock after selling 383,517 shares during the period. Wellington Management Group LLP’s holdings in Steven Madden were worth $60,681,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Los Angeles Capital Management LLC purchased a new position in shares of Steven Madden in the 4th quarter worth about $30,000. Global Retirement Partners LLC grew its position in Steven Madden by 1,064.3% during the 4th quarter. Global Retirement Partners LLC now owns 815 shares of the textile maker’s stock valued at $34,000 after purchasing an additional 745 shares during the last quarter. Farther Finance Advisors LLC increased its stake in Steven Madden by 79.4% during the 4th quarter. Farther Finance Advisors LLC now owns 983 shares of the textile maker’s stock valued at $41,000 after purchasing an additional 435 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in Steven Madden during the 4th quarter valued at about $43,000. Finally, EverSource Wealth Advisors LLC increased its stake in Steven Madden by 86.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,045 shares of the textile maker’s stock valued at $25,000 after purchasing an additional 485 shares in the last quarter. 99.88% of the stock is currently owned by institutional investors.

Steven Madden Stock Performance

Shares of SHOO stock opened at $41.99 on Thursday. The company has a 50 day moving average price of $44.26 and a 200-day moving average price of $40.54. Steven Madden, Ltd. has a 52 week low of $28.91 and a 52 week high of $49.70. The firm has a market capitalization of $3.07 billion, a PE ratio of 21.10 and a beta of 1.15. The company has a quick ratio of 1.13, a current ratio of 1.91 and a debt-to-equity ratio of 0.13.

Steven Madden (NASDAQ:SHOO) last issued its quarterly earnings data on Thursday, July 30th. The textile maker reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.11. Steven Madden had a net margin of 5.23% and a return on equity of 13.85%. The company had revenue of $665.87 million for the quarter, compared to the consensus estimate of $635.39 million. During the same quarter in the prior year, the firm earned $0.20 earnings per share. The firm’s revenue for the quarter was up 19.1% compared to the same quarter last year. Steven Madden has set its FY 2026 guidance at 2.050-2.150 EPS. As a group, equities research analysts expect that Steven Madden, Ltd. will post 2.15 earnings per share for the current year.

Steven Madden Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Friday, September 11th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Friday, September 11th. Steven Madden’s dividend payout ratio (DPR) is 42.21%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Williams Trading set a $56.00 target price on shares of Steven Madden in a research note on Monday, August 3rd. Citigroup reissued a “buy” rating and set a $55.00 price target (up from $45.00) on shares of Steven Madden in a research report on Friday, July 31st. BTIG Research reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Steven Madden in a research report on Monday, July 27th. Needham & Company LLC lifted their target price on Steven Madden from $45.00 to $52.00 and gave the stock a “buy” rating in a report on Friday, June 12th. Finally, Piper Sandler set a $55.00 target price on Steven Madden and gave the stock an “overweight” rating in a report on Wednesday, August 5th. Five analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $49.75.

Insider Transactions at Steven Madden

In related news, insider Christina Ciglar sold 5,147 shares of Steven Madden stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $44.74, for a total value of $230,276.78. Following the completion of the sale, the insider owned 35,200 shares of the company’s stock, valued at $1,574,848. The trade was a 12.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Al Ferrara sold 3,918 shares of the company’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $48.26, for a total value of $189,082.68. Following the sale, the director owned 26,197 shares of the company’s stock, valued at approximately $1,264,267.22. This trade represents a 13.01% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 14,233 shares of company stock valued at $670,489. Corporate insiders own 2.21% of the company’s stock.

Steven Madden Profile

Steven Madden, Inc (NASDAQ: SHOO) is a New York–based designer and marketer of fashion footwear, handbags and accessories. The company’s product portfolio spans a range of contemporary and lifestyle brands for women, men and children, including its core Steve Madden label as well as the Madden Girl and Dolce Vita brands. In addition to footwear, the company licenses its trademarks for use on apparel, eyewear and other fashion accessories.

Steven Madden distributes its products through multiple channels, including wholesale partners, e-commerce platforms and its own brick-and-mortar retail stores.