KLP Kapitalforvaltning AS purchased a new stake in Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 30,050 shares of the textile maker's stock, valued at approximately $1,278,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Central Pacific Bank Trust Division lifted its stake in shares of Steven Madden by 7.4% in the fourth quarter. Central Pacific Bank Trust Division now owns 4,202 shares of the textile maker's stock valued at $179,000 after buying an additional 290 shares during the period. Moran Wealth Management LLC grew its holdings in shares of Steven Madden by 1.6% during the 4th quarter. Moran Wealth Management LLC now owns 21,126 shares of the textile maker's stock worth $898,000 after purchasing an additional 325 shares in the last quarter. Blue Trust Inc. increased its position in shares of Steven Madden by 20.9% during the fourth quarter. Blue Trust Inc. now owns 1,958 shares of the textile maker's stock valued at $83,000 after purchasing an additional 339 shares during the period. Xponance Inc. lifted its position in Steven Madden by 12.3% in the fourth quarter. Xponance Inc. now owns 5,320 shares of the textile maker's stock worth $226,000 after purchasing an additional 584 shares during the period. Finally, New York State Teachers Retirement System boosted its stake in Steven Madden by 0.8% during the fourth quarter. New York State Teachers Retirement System now owns 79,672 shares of the textile maker's stock worth $3,388,000 after buying an additional 652 shares in the last quarter. 99.88% of the stock is currently owned by institutional investors and hedge funds.
Steven Madden Price Performance
Shares of SHOO traded down $4.63 on Thursday, hitting $23.65. The company's stock had a trading volume of 4,072,712 shares, compared to its average volume of 820,773. The company has a market capitalization of $1.71 billion, a PE ratio of 10.06 and a beta of 1.06. Steven Madden, Ltd. has a fifty-two week low of $23.31 and a fifty-two week high of $50.01. The company has a 50 day moving average price of $33.01 and a 200 day moving average price of $40.64.
Steven Madden (NASDAQ:SHOO - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $582.32 million for the quarter, compared to analyst estimates of $550.37 million. On average, equities analysts forecast that Steven Madden, Ltd. will post 2.66 EPS for the current year.
Steven Madden Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 10th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.55%. The ex-dividend date of this dividend was Monday, March 10th. Steven Madden's payout ratio is presently 35.74%.
Analyst Upgrades and Downgrades
SHOO has been the subject of a number of recent research reports. Jefferies Financial Group restated a "hold" rating on shares of Steven Madden in a research note on Monday, February 3rd. Needham & Company LLC reissued a "hold" rating on shares of Steven Madden in a research report on Thursday, February 27th. Telsey Advisory Group decreased their price objective 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. Citigroup lowered their price objective on Steven Madden from $38.00 to $35.00 and set a "neutral" rating on the stock in a research note on Thursday, February 27th. Finally, Piper Sandler cut their target price on Steven Madden from $45.00 to $40.00 and set a "neutral" rating for the company in a research report on Tuesday, February 4th. Eight analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Steven Madden currently has an average rating of "Hold" and a consensus target price of $40.33.
Get Our Latest Report on SHOO
About Steven Madden
(
Free Report)
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.
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