Invesco Ltd. Buys 138,065 Shares of Steven Madden, Ltd. (NASDAQ:SHOO)

Invesco Ltd. grew its stake in shares of Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 8.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,745,456 shares of the textile maker's stock after acquiring an additional 138,065 shares during the period. Invesco Ltd. owned about 2.42% of Steven Madden worth $74,217,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. R Squared Ltd bought a new stake in Steven Madden during the 4th quarter valued at $55,000. Blue Trust Inc. grew its position 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. KBC Group NV raised its stake in shares of Steven Madden by 36.5% during the 4th quarter. KBC Group NV now owns 3,013 shares of the textile maker's stock valued at $128,000 after purchasing an additional 805 shares during the period. Smartleaf Asset Management LLC boosted its stake in Steven Madden by 21.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,171 shares of the textile maker's stock worth $176,000 after purchasing an additional 741 shares during the period. Finally, New Age Alpha Advisors LLC purchased a new position in Steven Madden during the 4th quarter valued at about $177,000. 99.88% of the stock is owned by institutional investors.

Steven Madden Stock Up 1.8 %

Shares of Steven Madden stock traded up $0.36 during trading on Friday, reaching $19.90. The company's stock had a trading volume of 1,468,158 shares, compared to its average volume of 898,436. The company has a market cap of $1.44 billion, a price-to-earnings ratio of 8.47 and a beta of 0.98. The firm's 50-day moving average is $28.22 and its two-hundred day moving average is $38.27. Steven Madden, Ltd. has a 52-week low of $19.05 and a 52-week high of $50.01.

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

Steven Madden Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 10th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 4.22%. The ex-dividend date of this dividend was Monday, March 10th. Steven Madden's payout ratio is 35.74%.

Analysts Set New Price Targets

SHOO has been the subject of several analyst reports. StockNews.com downgraded shares of Steven Madden from a "buy" rating to a "hold" rating in a report on Tuesday, January 14th. Jefferies Financial Group restated a "hold" rating on shares of Steven Madden in a research report on Monday, February 3rd. Piper Sandler lowered their price target on Steven Madden from $35.00 to $25.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Telsey Advisory Group cut their price objective 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. Finally, Loop Capital lowered 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 note 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 has a consensus rating of "Hold" and a consensus price target of $37.83.

Steven Madden Profile

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.