Hyperion Capital Advisors LP Invests $269,000 in Steven Madden, Ltd. (NASDAQ:SHOO)

Hyperion Capital Advisors LP purchased a new position in Steven Madden, Ltd. (NASDAQ:SHOO) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 5,490 shares of the textile maker’s stock, valued at approximately $269,000.

A number of other hedge funds also recently modified their holdings of SHOO. Price T Rowe Associates Inc. MD raised its holdings in shares of Steven Madden by 6.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 134,309 shares of the textile maker’s stock worth $5,679,000 after purchasing an additional 7,547 shares during the period. Jane Street Group LLC raised its holdings in Steven Madden by 36.9% during the 1st quarter. Jane Street Group LLC now owns 183,423 shares of the textile maker’s stock valued at $7,755,000 after acquiring an additional 49,432 shares during the period. Harbor Capital Advisors Inc. raised its holdings in Steven Madden by 273.4% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 48,840 shares of the textile maker’s stock valued at $2,066,000 after acquiring an additional 35,761 shares during the period. SG Americas Securities LLC raised its holdings in Steven Madden by 61.1% during the 2nd quarter. SG Americas Securities LLC now owns 21,058 shares of the textile maker’s stock valued at $891,000 after acquiring an additional 7,983 shares during the period. Finally, AlphaMark Advisors LLC raised its holdings in Steven Madden by 7.4% during the 2nd quarter. AlphaMark Advisors LLC now owns 7,785 shares of the textile maker’s stock valued at $329,000 after acquiring an additional 535 shares during the period. Institutional investors own 99.88% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on SHOO shares. Wedbush reissued a “neutral” rating and set a $41.00 target price on shares of Steven Madden in a report on Wednesday, August 7th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $50.00 price target on shares of Steven Madden in a report on Wednesday, November 13th. Needham & Company LLC started coverage on shares of Steven Madden in a report on Friday, November 22nd. They issued a “hold” rating on the stock. Citigroup upped their price target on shares of Steven Madden from $43.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $45.00 price target on shares of Steven Madden in a report on Friday, August 23rd. Eight equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Steven Madden currently has a consensus rating of “Hold” and a consensus price target of $45.43.

Steven Madden Stock Performance

Shares of NASDAQ:SHOO opened at $44.84 on Thursday. Steven Madden, Ltd. has a 52-week low of $37.51 and a 52-week high of $50.01. The firm has a fifty day moving average of $46.22 and a 200 day moving average of $44.49. The firm has a market capitalization of $3.24 billion, a PE ratio of 19.08 and a beta of 1.08.

Steven Madden (NASDAQ:SHOO) last issued its quarterly earnings results on Thursday, November 7th. The textile maker reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.02. The business had revenue of $624.68 million for the quarter, compared to analysts’ expectations of $607.89 million. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. The company’s revenue was up 13.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.88 EPS. On average, sell-side analysts forecast that Steven Madden, Ltd. will post 2.65 EPS for the current fiscal year.

Steven Madden Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.87%. The ex-dividend date is Friday, December 13th. Steven Madden’s dividend payout ratio is presently 35.74%.

Steven Madden Company Profile

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.