Canada Pension Plan Investment Board Has $191,000 Stake in Steven Madden, Ltd. (NASDAQ:SHOO)

Canada Pension Plan Investment Board lowered its holdings in Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 94.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,500 shares of the textile maker's stock after selling 80,300 shares during the period. Canada Pension Plan Investment Board's holdings in Steven Madden were worth $191,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SHOO. PEAK6 LLC bought a new position in Steven Madden during the 4th quarter worth $978,000. Mariner LLC grew its position in shares of Steven Madden by 7.2% during the fourth quarter. Mariner LLC now owns 4,740 shares of the textile maker's stock worth $202,000 after acquiring an additional 319 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Steven Madden by 8.6% in the 4th quarter. Invesco Ltd. now owns 1,745,456 shares of the textile maker's stock worth $74,217,000 after acquiring an additional 138,065 shares during the period. Bank of Montreal Can boosted its stake in Steven Madden by 5.5% during the 4th quarter. Bank of Montreal Can now owns 10,660 shares of the textile maker's stock valued at $453,000 after purchasing an additional 554 shares during the period. Finally, Envestnet Asset Management Inc. grew its position in Steven Madden by 3.8% in the 4th quarter. Envestnet Asset Management Inc. now owns 22,198 shares of the textile maker's stock worth $944,000 after purchasing an additional 804 shares during the last quarter. 99.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Telsey Advisory Group decreased their price objective on Steven Madden from $38.00 to $24.00 and set a "market perform" rating for the company in a report on Wednesday. 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. Jefferies Financial Group reaffirmed a "hold" rating on shares of Steven Madden in a report on Monday, February 3rd. Needham & Company LLC restated a "hold" rating on shares of Steven Madden in a research report on Thursday, February 27th. Finally, Citigroup decreased their price objective on shares of Steven Madden from $38.00 to $35.00 and set a "neutral" rating for the company in a report on Thursday, February 27th. Nine research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Steven Madden has an average rating of "Hold" and a consensus target price of $33.57.

Steven Madden Stock Up 0.1 %

Shares of SHOO traded up $0.02 during midday trading on Thursday, reaching $21.02. 307,762 shares of the stock were exchanged, compared to its average volume of 932,468. The company has a market cap of $1.53 billion, a price-to-earnings ratio of 8.96 and a beta of 0.98. The firm has a 50 day simple moving average of $25.29 and a 200-day simple moving average of $36.77. Steven Madden, Ltd. has a 12-month low of $19.05 and a 12-month high of $50.01.

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

Steven Madden Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Monday, March 10th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 4.00%. The ex-dividend date of this dividend was Monday, March 10th. Steven Madden's dividend payout ratio is currently 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.