Vest Financial LLC Purchases 24,953 Shares of Steven Madden, Ltd. (NASDAQ:SHOO)

Vest Financial LLC boosted its holdings in Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 79.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 56,423 shares of the textile maker's stock after buying an additional 24,953 shares during the period. Vest Financial LLC owned approximately 0.08% of Steven Madden worth $2,399,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of SHOO. FMR LLC raised its stake in Steven Madden by 8,180.4% during the 3rd quarter. FMR LLC now owns 535,081 shares of the textile maker's stock valued at $26,214,000 after purchasing an additional 528,619 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Steven Madden by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,710,492 shares of the textile maker's stock worth $83,812,000 after purchasing an additional 49,075 shares during the period. Landscape Capital Management L.L.C. acquired a new position in shares of Steven Madden during the third quarter valued at about $2,614,000. Systematic Financial Management LP grew its position in Steven Madden by 15.9% during the third quarter. Systematic Financial Management LP now owns 439,126 shares of the textile maker's stock worth $21,513,000 after buying an additional 60,276 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Steven Madden by 5.0% during the third quarter. JPMorgan Chase & Co. now owns 462,096 shares of the textile maker's stock valued at $22,638,000 after acquiring an additional 21,942 shares during the period. 99.88% of the stock is currently owned by institutional investors and hedge funds.

Steven Madden Trading Down 1.1 %

Shares of Steven Madden stock traded down $0.41 during mid-day trading on Friday, reaching $37.19. 945,378 shares of the stock were exchanged, compared to its average volume of 656,428. The company has a market cap of $2.68 billion, a price-to-earnings ratio of 15.83 and a beta of 1.07. Steven Madden, Ltd. has a fifty-two week low of $36.88 and a fifty-two week high of $50.01. The firm has a 50-day simple moving average of $41.98 and a 200 day simple moving average of $44.06.

Steven Madden (NASDAQ:SHOO - Get Free Report) last posted its earnings results on Thursday, November 7th. The textile maker reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.89 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 $624.68 million during the quarter, compared to analysts' expectations of $607.89 million. During the same quarter in the previous year, the company posted $0.88 earnings per share. Steven Madden's quarterly revenue was up 13.0% compared to the same quarter last year. On average, research analysts predict 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, December 27th. Stockholders of record on Friday, December 13th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.26%. The ex-dividend date was Friday, December 13th. Steven Madden's payout ratio is presently 35.74%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Telsey Advisory Group decreased their price objective on Steven Madden from $50.00 to $44.00 and set a "market perform" rating on the stock in a report on Tuesday, February 4th. Piper Sandler decreased their price target 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. StockNews.com cut shares of Steven Madden from a "buy" rating to a "hold" rating in a research note on Tuesday, January 14th. Citigroup decreased their target price on shares of Steven Madden from $45.00 to $38.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 4th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Steven Madden in a research report on Thursday. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, Steven Madden presently has an average rating of "Hold" and a consensus target price of $43.33.

Steven Madden Company 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.