Raymond James Financial Inc. acquired a new position in Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 321,063 shares of the textile maker's stock, valued at approximately $13,652,000. Raymond James Financial Inc. owned approximately 0.44% of Steven Madden at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp boosted its holdings in shares of Steven Madden by 1.7% in the 3rd quarter. State Street Corp now owns 2,756,075 shares of the textile maker's stock worth $135,020,000 after purchasing an additional 47,017 shares in the last quarter. Pacer Advisors Inc. purchased a new position in shares of Steven Madden in the 4th quarter worth about $72,795,000. Geode Capital Management LLC boosted its holdings in shares of Steven Madden by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,710,492 shares of the textile maker's stock worth $83,812,000 after purchasing an additional 49,075 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Steven Madden by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,122,680 shares of the textile maker's stock worth $47,736,000 after purchasing an additional 25,903 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Steven Madden by 2.1% in the 4th quarter. Bank of New York Mellon Corp now owns 837,865 shares of the textile maker's stock worth $35,626,000 after purchasing an additional 17,173 shares in the last quarter. 99.88% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several equities research analysts recently weighed in on the company. Telsey Advisory Group dropped their target price on Steven Madden from $44.00 to $38.00 and set a "market perform" rating for the company in a report on Thursday, February 27th. Piper Sandler dropped their target price on Steven Madden from $45.00 to $40.00 and set a "neutral" rating for the company in a report on Tuesday, February 4th. Jefferies Financial Group restated a "hold" rating on shares of Steven Madden in a report on Monday, February 3rd. Loop Capital dropped their target price on Steven Madden from $40.00 to $35.00 and set a "hold" rating for the company in a report on Thursday, February 27th. Finally, Needham & Company LLC restated a "hold" rating on shares of Steven Madden in a report on Thursday, February 27th. Eight research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $40.33.
View Our Latest Report on Steven Madden
Steven Madden Trading Down 3.7 %
NASDAQ SHOO traded down $0.97 on Friday, hitting $25.03. The company's stock had a trading volume of 4,420,759 shares, compared to its average volume of 749,798. Steven Madden, Ltd. has a 52-week low of $24.56 and a 52-week high of $50.01. The company's 50-day simple moving average is $35.59 and its 200 day simple moving average is $41.69. The firm has a market cap of $1.81 billion, a P/E ratio of 10.65 and a beta of 1.06.
Steven Madden (NASDAQ:SHOO - Get Free Report) last released its quarterly earnings data on Wednesday, February 26th. The textile maker reported $0.55 earnings per share 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 business had revenue of $582.32 million during the quarter, compared to analysts' expectations of $550.37 million. On average, research analysts forecast that Steven Madden, Ltd. will post 2.66 EPS for the current fiscal year.
Steven Madden Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.36%. The ex-dividend date was Monday, March 10th. Steven Madden's dividend payout ratio is currently 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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