Steven Madden, Ltd. (SHOO) Holdings Reduced by Eaton Vance Management

Eaton Vance Management lowered its position in Steven Madden, Ltd. (NASDAQ:SHOO) by 43.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 75,470 shares of the textile maker’s stock after selling 58,464 shares during the quarter. Eaton Vance Management owned 0.09% of Steven Madden worth $3,992,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in SHOO. NumerixS Investment Technologies Inc increased its position in shares of Steven Madden by 81.8% in the second quarter. NumerixS Investment Technologies Inc now owns 2,000 shares of the textile maker’s stock valued at $108,000 after buying an additional 900 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new position in shares of Steven Madden in the second quarter valued at $113,000. WINTON GROUP Ltd purchased a new position in shares of Steven Madden in the second quarter valued at $213,000. CIBC Asset Management Inc purchased a new position in shares of Steven Madden in the second quarter valued at $226,000. Finally, Strs Ohio increased its position in shares of Steven Madden by 27.0% in the second quarter. Strs Ohio now owns 4,700 shares of the textile maker’s stock valued at $249,000 after buying an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 64.04% of the company’s stock.

SHOO has been the subject of a number of research analyst reports. BidaskClub cut Steven Madden from a “sell” rating to a “strong sell” rating in a research report on Friday, October 5th. Wells Fargo & Co dropped their price target on Steven Madden from $50.00 to $30.00 and set a “market perform” rating for the company in a research report on Monday, October 22nd. Buckingham Research dropped their price target on Steven Madden to $36.00 and set a “buy” rating for the company in a research report on Wednesday, October 17th. ValuEngine cut Steven Madden from a “buy” rating to a “hold” rating in a research report on Tuesday, October 2nd. Finally, Citigroup dropped their price target on Steven Madden from $40.67 to $38.00 and set a “buy” rating for the company in a research report on Friday, October 19th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $37.53.

In related news, Director Rose Peabody Lynch sold 2,500 shares of Steven Madden stock in a transaction dated Tuesday, September 18th. The stock was sold at an average price of $57.27, for a total transaction of $143,175.00. Following the completion of the sale, the director now owns 7,103 shares in the company, valued at approximately $406,788.81. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Karla Frieders sold 7,000 shares of Steven Madden stock in a transaction dated Monday, September 10th. The stock was sold at an average price of $56.89, for a total value of $398,230.00. Following the sale, the insider now owns 75,280 shares of the company’s stock, valued at approximately $4,282,679.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,500 shares of company stock valued at $604,325. 1.77% of the stock is currently owned by company insiders.

Steven Madden stock opened at $29.09 on Friday. The stock has a market cap of $2.64 billion, a P/E ratio of 19.52, a P/E/G ratio of 1.58 and a beta of 0.64. Steven Madden, Ltd. has a 52 week low of $27.77 and a 52 week high of $39.30.

Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings data on Tuesday, October 30th. The textile maker reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.04. The firm had revenue of $458.48 million during the quarter, compared to analysts’ expectations of $472.80 million. Steven Madden had a return on equity of 18.05% and a net margin of 8.79%. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.77 EPS. As a group, analysts expect that Steven Madden, Ltd. will post 1.79 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 31st. Investors of record on Friday, December 21st will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend is Thursday, December 20th. This is a boost from Steven Madden’s previous quarterly dividend of $0.13. Steven Madden’s dividend payout ratio (DPR) is currently 35.57%.

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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, Dolce Vita, DV by Dolce Vita, Mad Love, Steven by Steve Madden, Report, Superga, Betsey Johnson, Betseyville, Steve Madden Kids, FREEBIRD by Steven, Stevies, B Brian Atwood, Blondo, Kate Spade, and Avec Les Filles brands, as well as private label footwear.

See Also: Reverse Stock Split

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

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