Assenagon Asset Management S.A. lessened its stake in shares of Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 72.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of the stock. SG Americas Securities LLC boosted its stake in shares of Steven Madden by 86.9% in the first quarter. SG Americas Securities LLC now owns 17,034 shares of the textile maker's stock valued at $454,000 after purchasing an additional 7,922 shares during the period. Harbor Capital Advisors Inc. lifted its holdings in Steven Madden by 62.3% in the 1st quarter. Harbor Capital Advisors Inc. now owns 201,696 shares of the textile maker's stock worth $5,373,000 after buying an additional 77,425 shares in the last quarter. Vest Financial LLC lifted its holdings in Steven Madden by 41.8% in the 1st quarter. Vest Financial LLC now owns 80,010 shares of the textile maker's stock worth $2,131,000 after buying an additional 23,587 shares in the last quarter. GAMMA Investing LLC boosted its position in Steven Madden by 3,814.9% in the 1st quarter. GAMMA Investing LLC now owns 36,683 shares of the textile maker's stock valued at $977,000 after buying an additional 35,746 shares during the last quarter. Finally, PharVision Advisers LLC acquired a new stake in shares of Steven Madden during the fourth quarter valued at about $226,000. Hedge funds and other institutional investors own 99.88% of the company's stock.
Steven Madden Price Performance
Shares of SHOO stock traded down $0.14 on Friday, hitting $23.11. 2,004,714 shares of the stock traded hands, compared to its average volume of 1,093,041. The company's fifty day moving average is $23.38 and its 200 day moving average is $31.37. Steven Madden, Ltd. has a 1-year low of $19.05 and a 1-year high of $50.01. The company has a market capitalization of $1.68 billion, a PE ratio of 9.96 and a beta of 1.12.
Steven Madden (NASDAQ:SHOO - Get Free Report) last issued its earnings results on Wednesday, May 7th. The textile maker reported $0.60 earnings per share for the quarter, topping analysts' consensus estimates of $0.46 by $0.14. Steven Madden had a net margin of 7.26% and a return on equity of 21.63%. The company had revenue of $551.38 million for the quarter, compared to analysts' expectations of $557.81 million. During the same period in the prior year, the company earned $0.65 earnings per share. The firm's revenue was up .2% compared to the same quarter last year. As a group, equities research analysts expect that Steven Madden, Ltd. will post 2.66 EPS for the current year.
Steven Madden Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Monday, June 9th were issued a $0.21 dividend. The ex-dividend date was Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a yield of 3.63%. Steven Madden's dividend payout ratio is currently 36.21%.
Wall Street Analyst Weigh In
Several research firms recently commented on SHOO. Telsey Advisory Group reiterated a "market perform" rating and issued a $24.00 price target on shares of Steven Madden in a research note on Wednesday, June 4th. Loop Capital cut their target price on Steven Madden from $40.00 to $35.00 and set a "hold" rating on the stock in a research report on Thursday, February 27th. Citigroup decreased their price target on shares of Steven Madden from $35.00 to $23.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Piper Sandler dropped their price target on shares of Steven Madden from $35.00 to $25.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Finally, UBS Group increased their price objective on shares of Steven Madden from $22.00 to $23.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. Nine investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $28.50.
View Our Latest Report on SHOO
Steven Madden Profile
(
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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