Natixis Advisors LLC Sells 21,940 Shares of Steven Madden, Ltd. (NASDAQ:SHOO)

Natixis Advisors LLC reduced its position in shares of Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 53.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,795 shares of the textile maker's stock after selling 21,940 shares during the quarter. Natixis Advisors LLC's holdings in Steven Madden were worth $799,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of SHOO. State Street Corp lifted its stake in 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 acquiring an additional 47,017 shares in the last quarter. Pacer Advisors Inc. purchased a new stake in shares of Steven Madden in the fourth quarter worth approximately $72,795,000. Geode Capital Management LLC grew its position in Steven Madden by 3.0% during the third quarter. Geode Capital Management LLC now owns 1,710,492 shares of the textile maker's stock valued at $83,812,000 after purchasing an additional 49,075 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Steven Madden by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,122,680 shares of the textile maker's stock valued at $47,736,000 after purchasing an additional 25,903 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in 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 valued at $35,626,000 after buying an additional 17,173 shares during the period. Hedge funds and other institutional investors own 99.88% of the company's stock.

Remove Ads

Wall Street Analysts Forecast Growth

SHOO has been the topic of several research analyst reports. Piper Sandler lowered their price target on shares of Steven Madden from $45.00 to $40.00 and set a "neutral" rating on the stock in a report on Tuesday, February 4th. Citigroup lowered their target price 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. Jefferies Financial Group reiterated a "hold" rating on shares of Steven Madden in a report on Monday, February 3rd. Needham & Company LLC reaffirmed a "hold" rating on shares of Steven Madden in a research report on Thursday, February 27th. Finally, Loop Capital decreased their price objective on shares of Steven Madden from $40.00 to $35.00 and set a "hold" rating for the company in a report on Thursday, February 27th. Eight analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Steven Madden presently has an average rating of "Hold" and an average price target of $40.33.

Steven Madden Stock Performance

SHOO traded down $0.45 during midday trading on Friday, hitting $26.65. The company had a trading volume of 1,689,812 shares, compared to its average volume of 793,458. Steven Madden, Ltd. has a twelve month low of $24.56 and a twelve month high of $50.01. The firm's 50-day simple moving average is $34.23 and its 200-day simple moving average is $41.11. The company has a market capitalization of $1.93 billion, a PE ratio of 11.34 and a beta of 1.06.

Steven Madden (NASDAQ:SHOO - Get Free Report) last issued its quarterly 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 business had revenue of $582.32 million during the quarter, compared to analyst estimates of $550.37 million. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. As a group, sell-side analysts anticipate that Steven Madden, Ltd. will post 2.66 EPS for the current fiscal year.

Steven Madden Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.15%. The ex-dividend date was Monday, March 10th. Steven Madden's dividend payout ratio (DPR) is presently 35.74%.

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.