Prudential Financial Inc. Has $6.03 Million Position in Steven Madden, Ltd. (SHOO)

Prudential Financial Inc. decreased its position in Steven Madden, Ltd. (NASDAQ:SHOO) by 13.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 156,296 shares of the textile maker’s stock after selling 24,620 shares during the period. Prudential Financial Inc.’s holdings in Steven Madden were worth $6,025,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Louisiana State Employees Retirement System increased its stake in shares of Steven Madden by 0.5% in the first quarter. Louisiana State Employees Retirement System now owns 22,000 shares of the textile maker’s stock worth $848,000 after buying an additional 100 shares during the last quarter. Elkfork Partners LLC increased its stake in shares of Steven Madden by 17.5% in the first quarter. Elkfork Partners LLC now owns 2,662 shares of the textile maker’s stock worth $103,000 after buying an additional 396 shares during the last quarter. Meadow Creek Investment Management LLC increased its stake in shares of Steven Madden by 17.5% in the first quarter. Meadow Creek Investment Management LLC now owns 3,388 shares of the textile maker’s stock worth $131,000 after buying an additional 504 shares during the last quarter. Glen Harbor Capital Management LLC increased its stake in shares of Steven Madden by 17.5% in the first quarter. Glen Harbor Capital Management LLC now owns 4,114 shares of the textile maker’s stock worth $159,000 after buying an additional 612 shares during the last quarter. Finally, Tdam USA Inc. increased its stake in shares of Steven Madden by 1.8% in the first quarter. Tdam USA Inc. now owns 37,799 shares of the textile maker’s stock worth $1,457,000 after buying an additional 675 shares during the last quarter. Institutional investors own 92.85% of the company’s stock.

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

Shares of Steven Madden, Ltd. (NASDAQ SHOO) opened at 38.70 on Tuesday. Steven Madden, Ltd. has a 52 week low of $32.14 and a 52 week high of $40.75. The firm has a market cap of $2.30 billion, a PE ratio of 19.40 and a beta of 0.39. The firm has a 50-day moving average price of $38.37 and a 200-day moving average price of $37.25.

Steven Madden (NASDAQ:SHOO) last announced its earnings results on Friday, April 21st. The textile maker reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.04. Steven Madden had a return on equity of 17.17% and a net margin of 8.17%. The firm had revenue of $366.40 million during the quarter, compared to analyst estimates of $359.52 million. During the same quarter in the prior year, the company earned $0.33 EPS. The business’s revenue was up 11.2% compared to the same quarter last year. On average, equities research analysts predict that Steven Madden, Ltd. will post $2.19 earnings per share for the current year.

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A number of equities research analysts have weighed in on the company. Jefferies Group LLC set a $37.00 target price on Steven Madden and gave the stock a “hold” rating in a report on Saturday, May 13th. B. Riley reiterated a “buy” rating and issued a $45.00 target price on shares of Steven Madden in a report on Monday, March 6th. Piper Jaffray Companies set a $41.00 target price on Steven Madden and gave the stock a “buy” rating in a report on Wednesday, June 14th. Canaccord Genuity set a $45.00 target price on Steven Madden and gave the stock a “buy” rating in a report on Saturday, February 25th. Finally, Morgan Stanley lifted their target price on Steven Madden from $37.00 to $38.00 and gave the stock an “equal weight” rating in a report on Tuesday, June 6th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Steven Madden presently has an average rating of “Buy” and an average target price of $41.00.

In other news, President Amelia Varela sold 25,000 shares of the stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $39.51, for a total value of $987,750.00. Following the completion of the transaction, the president now owns 89,099 shares of the company’s stock, valued at approximately $3,520,301.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard P. Randall sold 2,454 shares of the stock in a transaction that occurred on Wednesday, April 26th. The stock was sold at an average price of $38.48, for a total value of $94,429.92. Following the completion of the transaction, the director now directly owns 24,551 shares of the company’s stock, valued at approximately $944,722.48. The disclosure for this sale can be found here. Insiders sold a total of 120,194 shares of company stock valued at $4,734,057 in the last three months. Corporate insiders own 2.20% of the company’s stock.

Steven Madden Company 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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:SHOO”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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