Mutual of America Capital Management LLC Sells 56,032 Shares of Steven Madden, Ltd. (NASDAQ:SHOO)

Mutual of America Capital Management LLC cut its holdings in shares of Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 83.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,921 shares of the textile maker's stock after selling 56,032 shares during the period. Mutual of America Capital Management LLC's holdings in Steven Madden were worth $535,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Blue Trust Inc. lifted its position in Steven Madden by 9,166.7% during the second quarter. Blue Trust Inc. now owns 834 shares of the textile maker's stock valued at $35,000 after purchasing an additional 825 shares in the last quarter. Exchange Traded Concepts LLC bought a new stake in Steven Madden during the 3rd quarter worth approximately $59,000. GAMMA Investing LLC increased its stake in shares of Steven Madden by 80.6% in the third quarter. GAMMA Investing LLC now owns 1,329 shares of the textile maker's stock worth $65,000 after purchasing an additional 593 shares in the last quarter. International Assets Investment Management LLC increased its stake in Steven Madden by 4,800.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,911 shares of the textile maker's stock worth $94,000 after buying an additional 1,872 shares in the last quarter. Finally, KBC Group NV raised its holdings in Steven Madden by 34.1% during the third quarter. KBC Group NV now owns 2,208 shares of the textile maker's stock valued at $108,000 after acquiring an additional 561 shares during the period. Hedge funds and other institutional investors own 99.88% of the company's stock.

Steven Madden Price Performance

Shares of Steven Madden stock traded up $0.68 during trading on Wednesday, hitting $44.84. The stock had a trading volume of 560,558 shares, compared to its average volume of 709,471. Steven Madden, Ltd. has a 12 month low of $37.51 and a 12 month high of $50.01. The firm's fifty day simple moving average is $46.22 and its 200-day simple moving average is $44.49. The stock has a market cap of $3.24 billion, a PE ratio of 19.06 and a beta of 1.08.

Steven Madden (NASDAQ:SHOO - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The textile maker reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 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 $624.68 million during the quarter, compared to the consensus estimate of $607.89 million. During the same quarter last year, the firm earned $0.88 earnings per share. The firm's quarterly revenue was up 13.0% compared to the same quarter last year. Analysts expect that Steven Madden, Ltd. will post 2.65 earnings per share for the current fiscal year.

Steven Madden Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date is Friday, December 13th. Steven Madden's dividend payout ratio (DPR) is presently 35.74%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Telsey Advisory Group reissued a "market perform" rating and set a $50.00 target price on shares of Steven Madden in a research note on Wednesday, November 13th. Piper Sandler reiterated a "neutral" rating and issued a $45.00 price target on shares of Steven Madden in a research note on Friday, August 23rd. Needham & Company LLC initiated coverage on Steven Madden in a research report on Friday, November 22nd. They set a "hold" rating for the company. Citigroup upped their price objective on Steven Madden from $43.00 to $45.00 and gave the stock a "neutral" rating in a report on Friday, November 8th. Finally, StockNews.com lowered shares of Steven Madden from a "buy" rating to a "hold" rating in a report on Sunday. Eight analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Steven Madden has an average rating of "Hold" and a consensus price target of $45.43.

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.