Franklin Resources Inc. Sells 52,975 Shares of Steven Madden, Ltd. (NASDAQ:SHOO)

Franklin Resources Inc. trimmed its position in shares of Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 12.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 361,099 shares of the textile maker's stock after selling 52,975 shares during the period. Franklin Resources Inc. owned approximately 0.50% of Steven Madden worth $15,354,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of SHOO. Arrowstreet Capital Limited Partnership raised its stake in Steven Madden by 8.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 527,351 shares of the textile maker's stock valued at $22,423,000 after purchasing an additional 40,750 shares in the last quarter. Pictet Asset Management Holding SA increased its holdings in shares of Steven Madden by 17.9% in the 4th quarter. Pictet Asset Management Holding SA now owns 10,503 shares of the textile maker's stock worth $447,000 after buying an additional 1,594 shares during the last quarter. New Age Alpha Advisors LLC purchased a new stake in shares of Steven Madden during the 4th quarter valued at about $177,000. Norges Bank bought a new position in shares of Steven Madden in the 4th quarter valued at about $9,399,000. Finally, JPMorgan Chase & Co. grew its position in Steven Madden by 26.4% in the fourth quarter. JPMorgan Chase & Co. now owns 584,068 shares of the textile maker's stock worth $24,835,000 after acquiring an additional 121,972 shares in the last quarter. 99.88% of the stock is currently owned by institutional investors.

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Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Telsey Advisory Group lowered 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. StockNews.com lowered shares of Steven Madden from a "buy" rating to a "hold" rating in a research note on Tuesday, January 14th. Piper Sandler reduced their target price on shares of Steven Madden from $35.00 to $25.00 and set a "neutral" rating on the stock in a research note on Friday. Needham & Company LLC reaffirmed a "hold" rating on shares of Steven Madden in a research note on Thursday, February 27th. Finally, 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. Eight analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, Steven Madden has a consensus rating of "Hold" and an average target price of $37.83.

Steven Madden Trading Down 1.8 %

Shares of NASDAQ SHOO traded down $0.38 during mid-day trading on Friday, reaching $20.80. The company had a trading volume of 1,914,451 shares, compared to its average volume of 880,475. Steven Madden, Ltd. has a 52 week low of $19.05 and a 52 week high of $50.01. The business's 50-day moving average is $29.98 and its 200-day moving average is $39.20. The stock has a market cap of $1.51 billion, a price-to-earnings ratio of 8.85 and a beta of 0.98.

Steven Madden (NASDAQ:SHOO - Get Free Report) last issued its 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 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 the consensus estimate of $550.37 million. As a group, equities research analysts forecast that Steven Madden, Ltd. will post 2.66 earnings per share for the current year.

Steven Madden Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 10th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date of this dividend was Monday, March 10th. Steven Madden's dividend payout ratio (DPR) is presently 35.74%.

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.