Magnetar Financial LLC acquired a new stake in shares of Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 28,961 shares of the textile maker's stock, valued at approximately $1,231,000.
A number of other institutional investors have also recently made changes to their positions in the stock. State Street Corp increased its holdings in Steven Madden by 1.7% during the 3rd quarter. State Street Corp now owns 2,756,075 shares of the textile maker's stock valued at $135,020,000 after purchasing an additional 47,017 shares during the period. Pacer Advisors Inc. bought a new stake in shares of Steven Madden in the 4th quarter worth approximately $72,795,000. Geode Capital Management LLC increased its stake in shares of Steven Madden by 3.0% during the third quarter. Geode Capital Management LLC now owns 1,710,492 shares of the textile maker's stock valued at $83,812,000 after buying an additional 49,075 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Steven Madden by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,122,680 shares of the textile maker's stock valued at $47,736,000 after acquiring an additional 25,903 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Steven Madden by 2.1% in the fourth quarter. Bank of New York Mellon Corp now owns 837,865 shares of the textile maker's stock worth $35,626,000 after acquiring an additional 17,173 shares during the period. Hedge funds and other institutional investors own 99.88% of the company's stock.
Analyst Ratings Changes
Several research analysts have commented on the stock. Piper Sandler decreased their price objective on shares of Steven Madden from $45.00 to $40.00 and set a "neutral" rating for the company in a report on Tuesday, February 4th. Telsey Advisory Group lowered their price objective on shares of Steven Madden from $44.00 to $38.00 and set a "market perform" rating for the company in a report on Thursday, February 27th. StockNews.com downgraded Steven Madden from a "buy" rating to a "hold" rating in a report on Tuesday, January 14th. Jefferies Financial Group reissued a "hold" rating on shares of Steven Madden in a research report on Monday, February 3rd. Finally, Loop Capital dropped 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 investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, Steven Madden presently has a consensus rating of "Hold" and an average target price of $40.33.
View Our Latest Analysis on Steven Madden
Steven Madden Trading Up 0.4 %
NASDAQ:SHOO traded up $0.11 during trading hours on Wednesday, reaching $27.37. The company had a trading volume of 1,461,950 shares, compared to its average volume of 760,785. The firm has a market cap of $1.98 billion, a price-to-earnings ratio of 11.65 and a beta of 1.06. The firm's 50 day moving average price is $35.07 and its 200-day moving average price is $41.44. Steven Madden, Ltd. has a 52 week low of $24.56 and a 52 week high of $50.01.
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. 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 during the quarter, compared to analyst estimates of $550.37 million. On average, analysts forecast that Steven Madden, Ltd. will post 2.66 earnings per share for the current fiscal year.
Steven Madden Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.07%. The ex-dividend date was Monday, March 10th. Steven Madden's dividend payout ratio (DPR) is presently 35.74%.
Steven Madden Profile
(
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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