Assenagon Asset Management S.A. Cuts Stock Position in Steven Madden, Ltd. (NASDAQ:SHOO)

Assenagon Asset Management S.A. trimmed its stake in shares of Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 72.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,003 shares of the textile maker's stock after selling 76,969 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Steven Madden were worth $799,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Mariner LLC boosted its stake 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 valued at $202,000 after purchasing an additional 319 shares during the period. Moran Wealth Management LLC raised its holdings in Steven Madden by 1.6% during the 4th quarter. Moran Wealth Management LLC now owns 21,126 shares of the textile maker's stock valued at $898,000 after buying an additional 325 shares during the last quarter. Tidal Investments LLC boosted its position in Steven Madden by 2.4% during the 4th quarter. Tidal Investments LLC now owns 17,784 shares of the textile maker's stock valued at $756,000 after buying an additional 409 shares during the period. Bank of Montreal Can boosted its position 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 buying an additional 554 shares during the period. Finally, Xponance Inc. grew its holdings in Steven Madden by 12.3% in the 4th quarter. Xponance Inc. now owns 5,320 shares of the textile maker's stock worth $226,000 after acquiring an additional 584 shares during the last quarter. 99.88% of the stock is currently owned by institutional investors.

Steven Madden Trading Down 1.1%

Shares of SHOO stock traded down $0.25 during midday trading on Thursday, reaching $23.25. 768,033 shares of the stock were exchanged, compared to its average volume of 1,090,276. Steven Madden, Ltd. has a 1 year low of $19.05 and a 1 year high of $50.01. The firm has a market cap of $1.69 billion, a PE ratio of 10.02 and a beta of 1.12. The company's 50 day moving average is $23.30 and its two-hundred day moving average is $31.78.

Steven Madden (NASDAQ:SHOO - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The textile maker reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.14. The company had revenue of $551.38 million for the quarter, compared to analysts' expectations of $557.81 million. Steven Madden had a return on equity of 21.63% and a net margin of 7.26%. The firm's revenue for the quarter was up .2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.65 earnings per share. As a group, equities analysts expect that Steven Madden, Ltd. will post 2.66 EPS for the current fiscal year.

Steven Madden Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Monday, June 9th will be given a dividend of $0.21 per share. The ex-dividend date is Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a yield of 3.61%. Steven Madden's dividend payout ratio (DPR) is currently 36.21%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SHOO. Citigroup lowered their price objective on shares of Steven Madden from $35.00 to $23.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. Piper Sandler lowered their price target on Steven Madden from $35.00 to $25.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. UBS Group lifted their price objective on Steven Madden from $22.00 to $23.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Loop Capital reduced their target price on Steven Madden from $40.00 to $35.00 and set a "hold" rating on the stock in a research note on Thursday, February 27th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Steven Madden in a research note on Friday, May 2nd. Nine research analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $28.50.

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.