Edgestream Partners L.P. Grows Position in Steven Madden, Ltd. (NASDAQ:SHOO)

Edgestream Partners L.P. boosted its position in Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 35.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 182,837 shares of the textile maker's stock after acquiring an additional 48,121 shares during the period. Edgestream Partners L.P. owned 0.25% of Steven Madden worth $7,774,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SHOO. Pacer Advisors Inc. bought a new stake in Steven Madden in the 4th quarter valued at about $72,795,000. FMR LLC raised its stake in Steven Madden by 8,180.4% in the 3rd quarter. FMR LLC now owns 535,081 shares of the textile maker's stock valued at $26,214,000 after acquiring an additional 528,619 shares during the period. Raymond James Financial Inc. bought a new stake in Steven Madden in the 4th quarter valued at about $13,652,000. Weiss Asset Management LP bought a new stake in Steven Madden in the 3rd quarter valued at about $12,558,000. Finally, Barclays PLC increased its position in shares of Steven Madden by 286.9% during the third quarter. Barclays PLC now owns 139,206 shares of the textile maker's stock valued at $6,819,000 after buying an additional 103,226 shares during the period. 99.88% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Piper Sandler decreased their price target on Steven Madden from $45.00 to $40.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 4th. Needham & Company LLC reiterated a "hold" rating on shares of Steven Madden in a research report on Thursday, February 27th. StockNews.com cut Steven Madden from a "buy" rating to a "hold" rating in a research report on Tuesday, January 14th. Telsey Advisory Group decreased their price target on Steven Madden from $44.00 to $38.00 and set a "market perform" rating on the stock in a research report on Thursday, February 27th. Finally, Loop Capital decreased their price target on Steven Madden from $40.00 to $35.00 and set a "hold" rating on the stock in a research report on Thursday, February 27th. Eight research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $40.33.

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Steven Madden Trading Down 1.8 %

Shares of NASDAQ SHOO traded down $0.54 during midday trading on Friday, hitting $28.89. 1,184,760 shares of the company's stock were exchanged, compared to its average volume of 728,352. Steven Madden, Ltd. has a 12-month low of $28.47 and a 12-month high of $50.01. The company has a market cap of $2.09 billion, a price-to-earnings ratio of 12.29 and a beta of 1.06. The business's fifty day moving average price is $38.78 and its two-hundred day moving average price is $43.00.

Steven Madden (NASDAQ:SHOO - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The textile maker reported $0.55 EPS for the quarter, topping the consensus estimate of $0.53 by $0.02. The company had revenue of $582.32 million during the quarter, compared to analyst estimates of $550.37 million. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. Equities analysts expect 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 paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.91%. The ex-dividend date is Monday, March 10th. Steven Madden's dividend payout ratio is currently 35.74%.

About Steven Madden

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.