Wellington Management Group LLP lessened its position in shares of Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 0.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,718,033 shares of the textile maker's stock after selling 31,603 shares during the period. Wellington Management Group LLP owned approximately 6.52% of Steven Madden worth $200,611,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also made changes to their positions in the company. R Squared Ltd bought a new position in Steven Madden in the fourth quarter valued at about $55,000. Blue Trust Inc. boosted its stake in shares of Steven Madden by 20.9% in the 4th 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 grew its holdings 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 last quarter. Smartleaf Asset Management LLC increased its position in Steven Madden by 21.6% during 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 in the last quarter. Finally, New Age Alpha Advisors LLC bought a new position in Steven Madden in the 4th quarter valued at approximately $177,000. Institutional investors and hedge funds own 99.88% of the company's stock.
Steven Madden Stock Up 1.9 %
SHOO stock traded up $0.45 during midday trading on Friday, hitting $24.10. The company's stock had a trading volume of 3,510,742 shares, compared to its average volume of 832,694. The stock has a market cap of $1.74 billion, a price-to-earnings ratio of 10.26 and a beta of 1.06. The stock's 50-day moving average price is $32.66 and its 200 day moving average price is $40.49. Steven Madden, Ltd. has a 1 year low of $22.30 and a 1 year high of $50.01.
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, topping 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 the consensus estimate of $550.37 million. As a group, equities analysts forecast that Steven Madden, Ltd. will post 2.66 earnings per share 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 given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date was Monday, March 10th. Steven Madden's dividend payout ratio is currently 35.74%.
Analyst Ratings Changes
A number of brokerages have issued reports on SHOO. Loop Capital lowered their target price on Steven Madden from $40.00 to $35.00 and set a "hold" rating for the company in a report on Thursday, February 27th. Needham & Company LLC reissued a "hold" rating on shares of Steven Madden in a report on Thursday, February 27th. StockNews.com downgraded shares of Steven Madden from a "buy" rating to a "hold" rating in a research note on Tuesday, January 14th. Piper Sandler reduced their price objective on shares of Steven Madden from $45.00 to $40.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 4th. Finally, Citigroup lowered their target price on Steven Madden from $38.00 to $35.00 and set a "neutral" rating for the company in a research report on Thursday, February 27th. 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, the company has a consensus rating of "Hold" and a consensus target price of $40.33.
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About Steven Madden
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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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