Bank of New York Mellon Corp Boosts Position in Steven Madden, Ltd. (NASDAQ:SHOO)

Bank of New York Mellon Corp grew its holdings in Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 2.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 837,865 shares of the textile maker's stock after acquiring an additional 17,173 shares during the period. Bank of New York Mellon Corp owned 1.16% of Steven Madden worth $35,626,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Gladius Capital Management LP bought a new stake in Steven Madden in the 3rd quarter valued at $36,000. R Squared Ltd bought a new stake in shares of Steven Madden in the 4th quarter valued at about $55,000. International Assets Investment Management LLC raised its holdings in shares of Steven Madden by 4,800.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,911 shares of the textile maker's stock valued at $94,000 after purchasing an additional 1,872 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Steven Madden by 20.9% during 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 in the last quarter. Finally, KBC Group NV grew its position in Steven Madden by 34.1% during the 3rd quarter. KBC Group NV now owns 2,208 shares of the textile maker's stock worth $108,000 after purchasing an additional 561 shares during the last quarter. 99.88% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. StockNews.com cut shares of Steven Madden from a "buy" rating to a "hold" rating in a research report on Tuesday, January 14th. Loop Capital cut 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 report on Thursday, February 27th. Telsey Advisory Group lowered their target price on shares of 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. Jefferies Financial Group reaffirmed a "hold" rating on shares of Steven Madden in a research note on Monday, February 3rd. Finally, Needham & Company LLC reissued a "hold" rating on shares of Steven Madden in a research note on Thursday, February 27th. Eight analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $40.33.

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Steven Madden Stock Down 1.8 %

NASDAQ:SHOO traded down $0.54 during midday trading on Friday, reaching $28.89. The stock had a trading volume of 1,184,760 shares, compared to its average volume of 728,352. The firm has a fifty day simple moving average of $38.78 and a two-hundred day simple moving average of $43.00. Steven Madden, Ltd. has a 12-month low of $28.47 and a 12-month high of $50.01. The stock has a market cap of $2.09 billion, a P/E ratio of 12.29 and a beta of 1.06.

Steven Madden (NASDAQ:SHOO - Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The textile maker reported $0.55 earnings per share for the quarter, topping analysts' consensus estimates of $0.53 by $0.02. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. The business had revenue of $582.32 million for the quarter, compared to analysts' expectations of $550.37 million. On average, sell-side analysts anticipate 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 will be paid on Friday, March 21st. Shareholders of record on Monday, March 10th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.84 dividend on an annualized basis and a yield of 2.91%. Steven Madden's dividend payout ratio (DPR) is 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.