Steven Madden, Ltd. (NASDAQ:SHOO) Shares Bought by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership raised its holdings in Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 8.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 527,351 shares of the textile maker's stock after purchasing an additional 40,750 shares during the quarter. Arrowstreet Capital Limited Partnership owned 0.73% of Steven Madden worth $22,423,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. R Squared Ltd acquired a new position in Steven Madden in the fourth quarter valued at about $55,000. Blue Trust Inc. lifted its holdings in shares of Steven Madden by 20.9% in the 4th quarter. Blue Trust Inc. now owns 1,958 shares of the textile maker's stock worth $83,000 after acquiring an additional 339 shares during the last quarter. KBC Group NV boosted its position in shares of Steven Madden by 36.5% during the 4th quarter. KBC Group NV now owns 3,013 shares of the textile maker's stock worth $128,000 after purchasing an additional 805 shares during the period. Smartleaf Asset Management LLC increased its holdings in Steven Madden by 21.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,171 shares of the textile maker's stock valued at $176,000 after purchasing an additional 741 shares during the last quarter. Finally, New Age Alpha Advisors LLC purchased a new stake in Steven Madden in the fourth quarter valued at approximately $177,000. Institutional investors and hedge funds own 99.88% of the company's stock.

Steven Madden Price Performance

Shares of SHOO traded up $0.45 during midday trading on Friday, reaching $24.10. The stock had a trading volume of 3,510,742 shares, compared to its average volume of 834,036. The company's fifty day simple moving average is $32.66 and its two-hundred day simple moving average is $40.44. The company has a market cap of $1.74 billion, a price-to-earnings ratio of 10.26 and a beta of 0.98. Steven Madden, Ltd. has a 1-year low of $22.24 and a 1-year high of $50.01.

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Steven Madden (NASDAQ:SHOO - Get Free Report) last announced its quarterly earnings results on Wednesday, February 26th. The textile maker reported $0.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.53 by $0.02. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. The company had revenue of $582.32 million during the quarter, compared to the consensus estimate of $550.37 million. On average, sell-side analysts forecast that Steven Madden, Ltd. will post 2.66 earnings per share for the current year.

Steven Madden Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 10th were issued a dividend of $0.21 per share. The ex-dividend date was Monday, March 10th. This represents a $0.84 dividend on an annualized basis and a yield of 3.49%. Steven Madden's payout ratio is currently 35.74%.

Analyst Ratings Changes

SHOO has been the subject of a number of research reports. Telsey Advisory Group dropped their price objective on Steven Madden from $44.00 to $38.00 and set a "market perform" rating for the company in a research note on Thursday, February 27th. Loop Capital reduced their price target on shares of Steven Madden from $40.00 to $35.00 and set a "hold" rating on the stock in a research report on Thursday, February 27th. Needham & Company LLC restated a "hold" rating on shares of Steven Madden in a report on Thursday, February 27th. StockNews.com downgraded shares of Steven Madden from a "buy" rating to a "hold" rating in a research note on Tuesday, January 14th. Finally, Citigroup decreased their price target on shares of Steven Madden from $38.00 to $35.00 and set a "neutral" rating for the company in a research report on Thursday, February 27th. Eight investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Steven Madden has an average rating of "Hold" and a consensus price target of $40.33.

Steven Madden 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.