Verition Fund Management LLC Lowers Stock Holdings in Steven Madden, Ltd. (NASDAQ:SHOO)

Verition Fund Management LLC lowered its position in Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 60.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 62,090 shares of the textile maker's stock after selling 93,508 shares during the quarter. Verition Fund Management LLC owned approximately 0.09% of Steven Madden worth $3,042,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. FMR LLC raised its stake in shares of Steven Madden by 8,180.4% during the third quarter. FMR LLC now owns 535,081 shares of the textile maker's stock worth $26,214,000 after purchasing an additional 528,619 shares during the last quarter. Nicholas Investment Partners LP purchased a new position in Steven Madden during the 2nd quarter worth $4,863,000. Squarepoint Ops LLC acquired a new stake in shares of Steven Madden in the 2nd quarter worth $4,550,000. Harbor Capital Advisors Inc. boosted its holdings in shares of Steven Madden by 149.8% in the third quarter. Harbor Capital Advisors Inc. now owns 122,005 shares of the textile maker's stock valued at $5,977,000 after acquiring an additional 73,165 shares in the last quarter. Finally, Landscape Capital Management L.L.C. acquired a new position in shares of Steven Madden during the third quarter worth about $2,614,000. 99.88% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on SHOO shares. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $50.00 price objective on shares of Steven Madden in a report on Wednesday, November 13th. StockNews.com lowered Steven Madden from a "buy" rating to a "hold" rating in a report on Sunday, November 24th. Piper Sandler reissued a "neutral" rating and issued a $45.00 target price on shares of Steven Madden in a report on Friday, August 23rd. Needham & Company LLC reiterated a "hold" rating on shares of Steven Madden in a report on Thursday. Finally, Citigroup boosted their price objective on shares of Steven Madden from $43.00 to $45.00 and gave the stock a "neutral" rating in a report on Friday, November 8th. Eight analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $45.43.

Steven Madden Price Performance

SHOO traded down $1.27 during midday trading on Thursday, reaching $44.54. 222,552 shares of the company's stock were exchanged, compared to its average volume of 707,694. Steven Madden, Ltd. has a 1-year low of $37.99 and a 1-year high of $50.01. The stock has a market capitalization of $3.22 billion, a PE ratio of 19.49 and a beta of 1.07. The business's 50-day moving average price is $45.93 and its 200 day moving average price is $44.62.

Steven Madden (NASDAQ:SHOO - Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The textile maker reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.02. The firm had revenue of $624.68 million during the quarter, compared to the consensus estimate of $607.89 million. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. The company's quarterly revenue was up 13.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.88 EPS. As a group, analysts expect that Steven Madden, Ltd. will post 2.66 EPS for the current fiscal year.

Steven Madden Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend is Friday, December 13th. Steven Madden's dividend payout ratio is presently 35.74%.

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.