Price T Rowe Associates Inc. MD lessened its position in shares of Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 60.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 52,764 shares of the textile maker's stock after selling 79,945 shares during the quarter. Price T Rowe Associates Inc. MD owned 0.07% of Steven Madden worth $2,244,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of SHOO. Dark Forest Capital Management LP purchased a new stake in Steven Madden during the fourth quarter valued at approximately $330,000. Hsbc Holdings PLC increased its stake in shares of Steven Madden by 105.3% in the 4th quarter. Hsbc Holdings PLC now owns 21,690 shares of the textile maker's stock worth $925,000 after purchasing an additional 11,126 shares in the last quarter. State of Tennessee Department of Treasury increased its stake in shares of Steven Madden by 21.2% in the 4th quarter. State of Tennessee Department of Treasury now owns 50,471 shares of the textile maker's stock worth $2,146,000 after purchasing an additional 8,824 shares in the last quarter. MetLife Investment Management LLC raised its holdings in Steven Madden by 4.4% in the 4th quarter. MetLife Investment Management LLC now owns 43,671 shares of the textile maker's stock worth $1,857,000 after purchasing an additional 1,833 shares during the period. Finally, First Trust Advisors LP lifted its position in Steven Madden by 36.9% during the fourth quarter. First Trust Advisors LP now owns 2,002,228 shares of the textile maker's stock valued at $85,135,000 after purchasing an additional 539,738 shares in the last quarter. Hedge funds and other institutional investors own 99.88% of the company's stock.
Analyst Upgrades and Downgrades
A number of brokerages have commented on SHOO. Needham & Company LLC restated a "hold" rating on shares of Steven Madden in a research report on Friday, May 2nd. Jefferies Financial Group reiterated a "hold" rating on shares of Steven Madden in a research note on Monday, February 3rd. UBS Group increased their target price on shares of Steven Madden from $22.00 to $23.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Piper Sandler lowered their price target on shares of Steven Madden from $35.00 to $25.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Finally, Loop Capital reduced their price objective on shares of Steven Madden from $40.00 to $35.00 and set a "hold" rating for the company in a research note on Thursday, February 27th. Nine investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $32.00.
Get Our Latest Research Report on SHOO
Steven Madden Stock Performance
Shares of SHOO traded up $0.29 during midday trading on Tuesday, hitting $26.70. 595,648 shares of the company traded hands, compared to its average volume of 989,565. The stock has a market cap of $1.94 billion, a price-to-earnings ratio of 11.36 and a beta of 1.04. The firm has a 50 day moving average of $23.56 and a 200-day moving average of $35.25. Steven Madden, Ltd. has a 52 week low of $19.05 and a 52 week high of $50.01.
Steven Madden (NASDAQ:SHOO - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The textile maker reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.14. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. The business had revenue of $551.38 million for the quarter, compared to analysts' expectations of $557.81 million. During the same period in the prior year, the firm earned $0.65 EPS. The company's revenue for the quarter was up .2% on a year-over-year basis. Sell-side analysts predict that Steven Madden, Ltd. will post 2.66 earnings per share for the current fiscal year.
Steven Madden Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Monday, June 9th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a yield of 3.15%. Steven Madden's dividend payout ratio (DPR) is presently 36.21%.
Steven Madden Profile
(
Free Report)
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.
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