Atria Wealth Solutions Inc. Takes $216,000 Position in Steven Madden, Ltd. $SHOO

Atria Wealth Solutions Inc. acquired a new stake in shares of Steven Madden, Ltd. (NASDAQ:SHOO) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 8,993 shares of the textile maker’s stock, valued at approximately $216,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Caitong International Asset Management Co. Ltd grew its position in Steven Madden by 328.8% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 2,161 shares of the textile maker’s stock worth $58,000 after acquiring an additional 1,657 shares during the last quarter. CWM LLC grew its position in Steven Madden by 231.0% during the 1st quarter. CWM LLC now owns 2,277 shares of the textile maker’s stock worth $61,000 after acquiring an additional 1,589 shares during the last quarter. Signaturefd LLC grew its position in Steven Madden by 475.5% during the 2nd quarter. Signaturefd LLC now owns 2,492 shares of the textile maker’s stock worth $60,000 after acquiring an additional 2,059 shares during the last quarter. Covestor Ltd grew its position in Steven Madden by 22.9% during the 1st quarter. Covestor Ltd now owns 4,906 shares of the textile maker’s stock worth $130,000 after acquiring an additional 915 shares during the last quarter. Finally, Gagnon Securities LLC bought a new position in Steven Madden during the 1st quarter worth approximately $140,000. 99.88% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on SHOO shares. Needham & Company LLC restated a “hold” rating on shares of Steven Madden in a research report on Wednesday, July 30th. UBS Group raised their price target on Steven Madden from $23.00 to $26.00 and gave the stock a “neutral” rating in a research report on Monday, July 28th. Citigroup restated a “buy” rating and set a $41.00 price target (up from $32.00) on shares of Steven Madden in a research report on Friday, October 17th. Piper Sandler upgraded Steven Madden from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $25.00 to $40.00 in a research report on Monday, September 22nd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Steven Madden in a research report on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $34.67.

Steven Madden Trading Down 1.5%

SHOO opened at $34.48 on Thursday. The stock has a market cap of $2.50 billion, a PE ratio of 27.15 and a beta of 1.22. The company has a quick ratio of 1.13, a current ratio of 2.01 and a debt-to-equity ratio of 0.33. The business has a 50 day moving average of $31.56 and a 200-day moving average of $26.62. Steven Madden, Ltd. has a 52 week low of $19.05 and a 52 week high of $46.99.

Steven Madden (NASDAQ:SHOO) last released its earnings results on Wednesday, July 30th. The textile maker reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.04). The firm had revenue of $556.09 million during the quarter, compared to analysts’ expectations of $575.83 million. Steven Madden had a net margin of 3.92% and a return on equity of 18.32%. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.57 EPS. Equities research analysts predict that Steven Madden, Ltd. will post 2.66 earnings per share for the current fiscal year.

Steven Madden Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 23rd. Stockholders of record on Friday, September 12th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Friday, September 12th. Steven Madden’s dividend payout ratio (DPR) is presently 66.14%.

About Steven Madden

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.