First Trust Advisors LP Grows Position in Steven Madden, Ltd. (NASDAQ:SHOO)

First Trust Advisors LP increased its holdings in Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 36.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,002,228 shares of the textile maker's stock after purchasing an additional 539,738 shares during the quarter. First Trust Advisors LP owned 2.77% of Steven Madden worth $85,135,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Barclays PLC boosted its stake 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 purchasing an additional 103,226 shares during the period. Tidal Investments LLC raised its holdings in Steven Madden by 15.1% during the 3rd quarter. Tidal Investments LLC now owns 17,375 shares of the textile maker's stock valued at $851,000 after buying an additional 2,278 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Steven Madden by 5.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 462,096 shares of the textile maker's stock valued at $22,638,000 after buying an additional 21,942 shares during the period. Central Pacific Bank Trust Division grew its holdings in Steven Madden by 7.4% in the 4th quarter. Central Pacific Bank Trust Division now owns 4,202 shares of the textile maker's stock worth $179,000 after acquiring an additional 290 shares during the last quarter. Finally, Harbor Capital Advisors Inc. increased its position in shares of Steven Madden by 1.9% in the fourth quarter. Harbor Capital Advisors Inc. now owns 124,271 shares of the textile maker's stock valued at $5,284,000 after acquiring an additional 2,266 shares during the period. 99.88% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SHOO has been the topic of a number of research analyst reports. Telsey Advisory Group reduced their price target on Steven Madden from $44.00 to $38.00 and set a "market perform" rating on the stock in a report on Thursday, February 27th. Loop Capital cut their price target on shares of Steven Madden from $40.00 to $35.00 and set a "hold" rating on the stock in a report on Thursday, February 27th. StockNews.com lowered shares of Steven Madden from a "buy" rating to a "hold" rating in a report on Tuesday, January 14th. UBS Group cut their target price on shares of Steven Madden from $24.00 to $22.00 and set a "neutral" rating on the stock in a research note on Wednesday. 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 note on Thursday, February 27th. Nine investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $35.57.

Steven Madden Price Performance

NASDAQ:SHOO traded down $0.36 during mid-day trading on Friday, hitting $20.80. 793,098 shares of the company's stock were exchanged, compared to its average volume of 931,154. The company has a market cap of $1.51 billion, a PE ratio of 8.85 and a beta of 0.98. Steven Madden, Ltd. has a one year low of $19.05 and a one year high of $50.01. The business has a fifty day moving average price of $26.74 and a 200 day moving average price of $37.50.

Steven Madden (NASDAQ:SHOO - Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The textile maker reported $0.55 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 firm had revenue of $582.32 million for the quarter, compared to analysts' expectations of $550.37 million. On average, equities analysts forecast that Steven Madden, Ltd. will post 2.66 EPS for the current fiscal year.

Steven Madden Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Monday, March 10th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 4.04%. The ex-dividend date was Monday, March 10th. Steven Madden's dividend payout ratio (DPR) is currently 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.