Norges Bank bought a new position in shares of Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 221,058 shares of the textile maker's stock, valued at approximately $9,399,000. Norges Bank owned approximately 0.31% of Steven Madden as of its most recent filing with the SEC.
Other hedge funds also recently modified their holdings of the company. JPMorgan Chase & Co. increased its position in Steven Madden by 26.4% during the 4th quarter. JPMorgan Chase & Co. now owns 584,068 shares of the textile maker's stock worth $24,835,000 after purchasing an additional 121,972 shares in the last quarter. Segall Bryant & Hamill LLC grew its stake in shares of Steven Madden by 2.4% during the fourth quarter. Segall Bryant & Hamill LLC now owns 573,754 shares of the textile maker's stock worth $24,396,000 after buying an additional 13,330 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Steven Madden by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 8,097,339 shares of the textile maker's stock worth $344,299,000 after buying an additional 54,877 shares in the last quarter. Fox Run Management L.L.C. lifted its stake in shares of Steven Madden by 318.5% in the 4th quarter. Fox Run Management L.L.C. now owns 20,290 shares of the textile maker's stock valued at $863,000 after acquiring an additional 15,442 shares during the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Steven Madden in the 4th quarter valued at $1,278,000. Institutional investors own 99.88% of the company's stock.
Analyst Ratings Changes
Several research firms have commented on SHOO. Citigroup dropped their target price on Steven Madden from $38.00 to $35.00 and set a "neutral" rating for the company in a research report on Thursday, February 27th. Loop Capital cut their target price on shares of Steven Madden from $40.00 to $35.00 and set a "hold" rating on the stock in a research report on Thursday, February 27th. StockNews.com cut shares of Steven Madden from a "buy" rating to a "hold" rating in a research report on Tuesday, January 14th. Telsey Advisory Group cut their price target on shares of Steven Madden from $44.00 to $38.00 and set a "market perform" rating on the stock in a report on Thursday, February 27th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Steven Madden in a research note on Thursday, February 27th. Eight investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $37.83.
Read Our Latest Analysis on Steven Madden
Steven Madden Stock Down 1.8 %
Steven Madden stock traded down $0.38 during trading hours on Friday, reaching $20.80. 1,914,451 shares of the company's stock were exchanged, compared to its average volume of 881,785. The firm's 50 day simple moving average is $29.98 and its 200 day simple moving average is $39.13. Steven Madden, Ltd. has a twelve month low of $19.05 and a twelve month high of $50.01. The firm has a market capitalization of $1.51 billion, a PE ratio of 8.85 and a beta of 0.98.
Steven Madden (NASDAQ:SHOO - Get Free Report) last announced its earnings results on Wednesday, February 26th. The textile maker reported $0.55 EPS for the quarter, beating the consensus estimate of $0.53 by $0.02. The company had revenue of $582.32 million for the quarter, compared to analyst estimates of $550.37 million. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. Analysts anticipate that Steven Madden, Ltd. will post 2.66 EPS for the current year.
Steven Madden Dividend Announcement
The business also recently announced 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. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.04%. Steven Madden's payout ratio is presently 35.74%.
Steven Madden Company 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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