Citigroup Inc. Buys 40,550 Shares of Steven Madden, Ltd. (NASDAQ:SHOO)

Citigroup Inc. raised its position in Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 74.0% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 95,334 shares of the textile maker's stock after buying an additional 40,550 shares during the period. Citigroup Inc. owned about 0.13% of Steven Madden worth $4,670,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its position 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 last quarter. Jane Street Group LLC grew its position in shares of Steven Madden by 36.9% during the 1st quarter. Jane Street Group LLC now owns 183,423 shares of the textile maker's stock worth $7,755,000 after buying an additional 49,432 shares during the period. Harbor Capital Advisors Inc. increased its stake in shares of Steven Madden by 273.4% in 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 last quarter. SG Americas Securities LLC raised its position in shares of Steven Madden by 61.1% in 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 grew its holdings in Steven Madden by 7.4% during the second quarter. AlphaMark Advisors LLC now owns 7,785 shares of the textile maker's stock valued at $329,000 after purchasing an additional 535 shares during the period. Institutional investors own 99.88% of the company's stock.

Wall Street Analysts Forecast Growth

SHOO has been the subject of several research analyst reports. Citigroup upped their price objective on shares of Steven Madden from $43.00 to $45.00 and gave the company a "neutral" rating in a research report on Friday, November 8th. Needham & Company LLC assumed coverage on shares of Steven Madden in a research note on Friday, November 22nd. They issued a "hold" rating on the stock. Piper Sandler reiterated a "neutral" rating and issued a $45.00 price target on shares of Steven Madden in a report on Friday, August 23rd. Wedbush restated a "neutral" rating and set a $41.00 price objective on shares of Steven Madden in a report on Wednesday, August 7th. Finally, Telsey Advisory Group reaffirmed a "market perform" rating and issued a $50.00 target price on shares of Steven Madden in a research note on Wednesday, November 13th. Eight research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, Steven Madden has an average rating of "Hold" and an average target price of $45.43.

Steven Madden Trading Down 0.4 %

Shares of Steven Madden stock traded down $0.17 during trading hours on Tuesday, reaching $46.01. 666,212 shares of the company's stock were exchanged, compared to its average volume of 709,495. The stock has a market cap of $3.32 billion, a P/E ratio of 19.58 and a beta of 1.07. The company has a 50 day moving average of $46.03 and a two-hundred day moving average of $44.58. Steven Madden, Ltd. has a fifty-two week low of $37.99 and a fifty-two week high of $50.01.

Steven Madden (NASDAQ:SHOO - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The textile maker reported $0.91 EPS for the quarter, beating analysts' consensus estimates of $0.89 by $0.02. The firm had revenue of $624.68 million during 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 for the quarter was up 13.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.88 earnings per share. As a group, analysts expect that Steven Madden, Ltd. will post 2.66 earnings per share for the current fiscal year.

Steven Madden Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date of this dividend is Friday, December 13th. Steven Madden's dividend payout ratio (DPR) 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.