Allspring Global Investments Holdings LLC lessened its holdings in Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 2.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,122,692 shares of the textile maker's stock after selling 27,611 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 1.56% of Steven Madden worth $47,108,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the business. Exchange Traded Concepts LLC acquired a new position in shares of Steven Madden in the 3rd quarter valued at about $59,000. Creative Planning lifted its holdings in Steven Madden by 25.2% in the third quarter. Creative Planning now owns 13,507 shares of the textile maker's stock worth $662,000 after acquiring an additional 2,716 shares during the last quarter. nVerses Capital LLC boosted its stake in Steven Madden by 29.7% in the third quarter. nVerses Capital LLC now owns 4,800 shares of the textile maker's stock valued at $235,000 after acquiring an additional 1,100 shares during the period. Blue Trust Inc. grew its holdings in shares of Steven Madden by 94.1% during the third quarter. Blue Trust Inc. now owns 1,619 shares of the textile maker's stock valued at $79,000 after purchasing an additional 785 shares during the last quarter. Finally, Raymond James & Associates raised its position in shares of Steven Madden by 3.6% during the 3rd quarter. Raymond James & Associates now owns 114,484 shares of the textile maker's stock worth $5,609,000 after purchasing an additional 3,962 shares during the period. Institutional investors own 99.88% of the company's stock.
Analyst Upgrades and Downgrades
SHOO has been the subject of a number of analyst reports. Needham & Company LLC restated a "hold" rating on shares of Steven Madden in a research report on Thursday. Citigroup cut their target price on Steven Madden from $45.00 to $38.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 4th. Telsey Advisory Group restated a "market perform" rating and set a $44.00 price target on shares of Steven Madden in a research report on Friday. Piper Sandler cut their price objective on shares of Steven Madden from $45.00 to $40.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 4th. Finally, StockNews.com lowered shares of Steven Madden from a "buy" rating to a "hold" rating in a research note on Tuesday, January 14th. Seven 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 $43.33.
Check Out Our Latest Report on Steven Madden
Steven Madden Trading Down 0.1 %
SHOO traded down $0.04 on Monday, reaching $39.63. The company had a trading volume of 750,031 shares, compared to its average volume of 656,428. The company has a market capitalization of $2.86 billion, a P/E ratio of 16.86 and a beta of 1.07. The company has a fifty day moving average of $41.21 and a 200-day moving average of $43.85. Steven Madden, Ltd. has a one year low of $36.40 and a one year high of $50.01.
Steven Madden Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date of this dividend was Friday, December 13th. Steven Madden's payout ratio is currently 35.74%.
Steven Madden Company Profile
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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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