Morgan Stanley Purchases 191,272 Shares of Steven Madden, Ltd. (NASDAQ:SHOO)

Share on StockTwits

Morgan Stanley boosted its position in Steven Madden, Ltd. (NASDAQ:SHOO) by 108.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 367,197 shares of the textile maker’s stock after acquiring an additional 191,272 shares during the period. Morgan Stanley owned 0.43% of Steven Madden worth $12,466,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in SHOO. Janus Henderson Group PLC bought a new position in Steven Madden in the second quarter worth approximately $12,004,000. BlackRock Inc. boosted its holdings in Steven Madden by 2.1% in the second quarter. BlackRock Inc. now owns 11,992,962 shares of the textile maker’s stock worth $407,160,000 after acquiring an additional 248,673 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in Steven Madden by 13.0% in the second quarter. Wells Fargo & Company MN now owns 1,395,894 shares of the textile maker’s stock worth $47,390,000 after acquiring an additional 160,555 shares in the last quarter. Prudential Financial Inc. boosted its holdings in Steven Madden by 29.5% in the second quarter. Prudential Financial Inc. now owns 233,053 shares of the textile maker’s stock worth $7,912,000 after acquiring an additional 53,040 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Steven Madden by 32.9% in the second quarter. JPMorgan Chase & Co. now owns 121,422 shares of the textile maker’s stock worth $4,053,000 after acquiring an additional 30,057 shares in the last quarter. Institutional investors and hedge funds own 96.43% of the company’s stock.

SHOO stock opened at $35.74 on Friday. Steven Madden, Ltd. has a twelve month low of $27.88 and a twelve month high of $36.87. The stock’s 50 day moving average is $34.16 and its 200-day moving average is $33.05. The firm has a market capitalization of $2.86 billion, a PE ratio of 17.21, a P/E/G ratio of 3.09 and a beta of 0.79.

Steven Madden (NASDAQ:SHOO) last posted its earnings results on Tuesday, July 30th. The textile maker reported $0.47 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.05. Steven Madden had a return on equity of 19.90% and a net margin of 8.07%. The company had revenue of $444.97 million for the quarter, compared to analyst estimates of $420.40 million. During the same quarter last year, the company earned $0.41 earnings per share. The company’s revenue for the quarter was up 12.4% on a year-over-year basis. On average, research analysts expect that Steven Madden, Ltd. will post 1.8 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Tuesday, September 17th were issued a $0.14 dividend. The ex-dividend date was Monday, September 16th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.57%. Steven Madden’s dividend payout ratio is presently 30.60%.

Several research analysts have issued reports on SHOO shares. BidaskClub upgraded Steven Madden from a “hold” rating to a “buy” rating in a report on Wednesday, September 4th. Zacks Investment Research lowered Steven Madden from a “hold” rating to a “sell” rating and set a $35.00 target price on the stock. in a report on Thursday, July 18th. Citigroup set a $37.00 target price on Steven Madden and gave the company a “hold” rating in a report on Wednesday, July 31st. ValuEngine lowered Steven Madden from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 2nd. Finally, B. Riley set a $42.00 target price on Steven Madden and gave the company a “buy” rating in a report on Friday, July 19th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $35.80.

In related news, CFO Arvind Dharia sold 7,500 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $36.30, for a total transaction of $272,250.00. Following the completion of the sale, the chief financial officer now directly owns 102,107 shares of the company’s stock, valued at $3,706,484.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Peter Migliorini sold 3,000 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $36.17, for a total value of $108,510.00. Following the sale, the director now directly owns 11,204 shares of the company’s stock, valued at $405,248.68. The disclosure for this sale can be found here. 1.96% of the stock is owned by company insiders.

About Steven Madden

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.

Featured Article: Monthly Dividend Stocks

Want to see what other hedge funds are holding SHOO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Steven Madden, Ltd. (NASDAQ:SHOO).

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

Receive News & Ratings for Steven Madden Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Steven Madden and related companies with MarketBeat.com's FREE daily email newsletter.