Fisher Asset Management LLC Raises Position in Steven Madden, Ltd. (NASDAQ:SHOO)

Fisher Asset Management LLC increased its stake in shares of Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 2.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 745,798 shares of the textile maker's stock after purchasing an additional 17,124 shares during the period. Fisher Asset Management LLC owned approximately 1.03% of Steven Madden worth $31,711,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in SHOO. Creative Planning boosted its position in shares of Steven Madden by 25.2% during the third quarter. Creative Planning now owns 13,507 shares of the textile maker's stock worth $662,000 after buying an additional 2,716 shares during the period. International Assets Investment Management LLC grew its position in Steven Madden by 4,800.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,911 shares of the textile maker's stock valued at $94,000 after acquiring an additional 1,872 shares in the last quarter. New York State Teachers Retirement System grew its position in Steven Madden by 0.9% in the 3rd quarter. New York State Teachers Retirement System now owns 79,020 shares of the textile maker's stock valued at $3,871,000 after acquiring an additional 668 shares in the last quarter. Harbor Capital Advisors Inc. increased its stake in Steven Madden by 149.8% during the third quarter. Harbor Capital Advisors Inc. now owns 122,005 shares of the textile maker's stock worth $5,977,000 after purchasing an additional 73,165 shares during the period. Finally, Covestor Ltd lifted its position in shares of Steven Madden by 37.1% during the third quarter. Covestor Ltd now owns 4,000 shares of the textile maker's stock worth $196,000 after purchasing an additional 1,083 shares in the last quarter. Institutional investors and hedge funds own 99.88% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SHOO. Telsey Advisory Group reduced their price objective on Steven Madden from $44.00 to $38.00 and set a "market perform" rating on the stock in a research note on Thursday. Jefferies Financial Group restated a "hold" rating on shares of Steven Madden in a research note on Monday, February 3rd. Needham & Company LLC reiterated a "hold" rating on shares of Steven Madden in a report on Thursday. StockNews.com downgraded shares of Steven Madden from a "buy" rating to a "hold" rating in a research note on Tuesday, January 14th. Finally, Citigroup dropped their price objective on Steven Madden from $38.00 to $35.00 and set a "neutral" rating on the stock in a report on Thursday. Eight research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $40.33.

Steven Madden Price Performance

Shares of SHOO traded down $2.34 during mid-day trading on Monday, reaching $30.45. 1,635,008 shares of the company's stock were exchanged, compared to its average volume of 860,110. The business's fifty day simple moving average is $39.83 and its 200-day simple moving average is $43.41. Steven Madden, Ltd. has a 52-week low of $30.42 and a 52-week high of $50.01. The stock has a market capitalization of $2.20 billion, a PE ratio of 12.96 and a beta of 1.07.

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

Steven Madden Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Monday, March 10th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 2.76%. The ex-dividend date of this dividend is Monday, March 10th. Steven Madden's dividend payout ratio 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.