Sei Investments Co. lowered its stake in shares of Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 15.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 108,682 shares of the textile maker's stock after selling 19,285 shares during the period. Sei Investments Co. owned 0.15% of Steven Madden worth $4,621,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also recently modified their holdings of the stock. Central Pacific Bank Trust Division grew its holdings in Steven Madden by 7.4% during the 4th quarter. Central Pacific Bank Trust Division now owns 4,202 shares of the textile maker's stock valued at $179,000 after buying an additional 290 shares in the last quarter. Moran Wealth Management LLC boosted its position in shares of Steven Madden by 1.6% during the 4th quarter. Moran Wealth Management LLC now owns 21,126 shares of the textile maker's stock valued at $898,000 after acquiring an additional 325 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Steven Madden by 20.9% in the fourth quarter. Blue Trust Inc. now owns 1,958 shares of the textile maker's stock valued at $83,000 after purchasing an additional 339 shares in the last quarter. Xponance Inc. increased its position in Steven Madden by 12.3% in the fourth quarter. Xponance Inc. now owns 5,320 shares of the textile maker's stock worth $226,000 after purchasing an additional 584 shares during the last quarter. Finally, New York State Teachers Retirement System raised its stake in Steven Madden by 0.8% during the fourth quarter. New York State Teachers Retirement System now owns 79,672 shares of the textile maker's stock valued at $3,388,000 after purchasing an additional 652 shares in the last quarter. Hedge funds and other institutional investors own 99.88% of the company's stock.
Steven Madden Stock Performance
Steven Madden stock traded down $1.84 during mid-day trading on Monday, hitting $22.26. The company's stock had a trading volume of 2,302,373 shares, compared to its average volume of 839,886. The company has a 50 day moving average of $32.28 and a 200-day moving average of $40.21. Steven Madden, Ltd. has a one year low of $21.84 and a one year high of $50.01. The stock has a market cap of $1.61 billion, a PE ratio of 9.47 and a beta of 0.98.
Steven Madden (NASDAQ:SHOO - Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The textile maker reported $0.55 EPS for the quarter, topping the consensus estimate of $0.53 by $0.02. The company had revenue of $582.32 million for 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 Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Monday, March 10th were issued a $0.21 dividend. 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 3.77%. Steven Madden's payout ratio is 35.74%.
Analyst Ratings Changes
A number of analysts have recently weighed in on the stock. Needham & Company LLC restated a "hold" rating on shares of Steven Madden in a report on Thursday, February 27th. Citigroup reduced their price objective on Steven Madden from $38.00 to $35.00 and set a "neutral" rating on the stock in a research note on Thursday, February 27th. Piper Sandler lowered their price objective on Steven Madden from $45.00 to $40.00 and set a "neutral" rating for the company in a research note on Tuesday, February 4th. Jefferies Financial Group reissued a "hold" rating on shares of Steven Madden in a research report on Monday, February 3rd. Finally, StockNews.com downgraded Steven Madden from a "buy" rating to a "hold" rating in a research report on Tuesday, January 14th. Eight investment 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, Steven Madden currently has an average rating of "Hold" and an average price target of $40.33.
Check Out Our Latest Stock Analysis on Steven Madden
About Steven Madden
(
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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