Schroder Investment Management Group Sells 185,941 Shares of Steven Madden, Ltd. (NASDAQ:SHOO)

Schroder Investment Management Group cut its stake in shares of Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 75.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 61,202 shares of the textile maker's stock after selling 185,941 shares during the quarter. Schroder Investment Management Group owned approximately 0.08% of Steven Madden worth $2,585,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of SHOO. Pacer Advisors Inc. bought a new position in shares of Steven Madden in the fourth quarter valued at $72,795,000. FMR LLC raised its holdings in shares of Steven Madden by 8,180.4% in the 3rd quarter. FMR LLC now owns 535,081 shares of the textile maker's stock worth $26,214,000 after acquiring an additional 528,619 shares during the last quarter. Raymond James Financial Inc. bought a new position in Steven Madden in the 4th quarter valued at about $13,652,000. Norges Bank acquired a new position in Steven Madden during the 4th quarter valued at about $9,399,000. Finally, JPMorgan Chase & Co. increased its holdings 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. 99.88% of the stock is currently owned by institutional investors and hedge funds.

Steven Madden Stock Down 1.8 %

SHOO traded down $0.38 during trading on Friday, hitting $20.80. 1,914,451 shares of the company traded hands, compared to its average volume of 880,475. Steven Madden, Ltd. has a one year low of $17.12 and a one year high of $50.01. The stock's fifty day moving average is $29.98 and its 200 day moving average is $39.20. The firm has a market cap of $1.51 billion, a P/E ratio of 8.85 and a beta of 0.98.

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Steven Madden (NASDAQ:SHOO - Get Free Report) last released its earnings results on Wednesday, February 26th. The textile maker reported $0.55 earnings per share for the quarter, beating analysts' consensus estimates of $0.53 by $0.02. The firm had revenue of $582.32 million during the quarter, compared to the consensus estimate of $550.37 million. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. On average, equities research analysts forecast that Steven Madden, Ltd. will post 2.66 EPS for the current fiscal year.

Steven Madden Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 10th were paid a $0.21 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.84 annualized dividend and a dividend yield of 4.04%. Steven Madden's payout ratio is presently 35.74%.

Analysts Set New Price Targets

SHOO has been the topic of several analyst reports. Loop Capital cut their target price 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. StockNews.com downgraded shares of Steven Madden from a "buy" rating to a "hold" rating in a report on Tuesday, January 14th. Needham & Company LLC reiterated a "hold" rating on shares of Steven Madden in a report on Thursday, February 27th. Citigroup dropped their price target on shares of Steven Madden from $38.00 to $35.00 and set a "neutral" rating on the stock in a research report on Thursday, February 27th. Finally, Jefferies Financial Group reaffirmed a "hold" rating on shares of Steven Madden in a research report on Monday, February 3rd. Eight investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $37.83.

About Steven Madden

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.