Steven Madden, Ltd. (NASDAQ:SHOO) Stock Position Reduced by Bank of America Corp DE

Bank of America Corp DE reduced its holdings in Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 16.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 657,167 shares of the textile maker's stock after selling 128,796 shares during the quarter. Bank of America Corp DE owned 0.91% of Steven Madden worth $27,943,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Algert Global LLC bought a new stake in shares of Steven Madden in the 4th quarter worth approximately $478,000. Schonfeld Strategic Advisors LLC bought a new stake in shares of Steven Madden in the 4th quarter worth approximately $398,000. Lido Advisors LLC raised its holdings in shares of Steven Madden by 39.5% in the 4th quarter. Lido Advisors LLC now owns 7,611 shares of the textile maker's stock worth $324,000 after purchasing an additional 2,154 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Steven Madden by 9.7% in the 4th quarter. Northern Trust Corp now owns 810,263 shares of the textile maker's stock worth $34,452,000 after purchasing an additional 71,816 shares in the last quarter. Finally, Tudor Investment Corp ET AL raised its holdings in shares of Steven Madden by 679.4% in the 4th quarter. Tudor Investment Corp ET AL now owns 85,106 shares of the textile maker's stock worth $3,619,000 after purchasing an additional 74,187 shares in the last quarter. 99.88% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on SHOO. UBS Group boosted their target price on shares of Steven Madden from $22.00 to $23.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Loop Capital dropped their target price on shares of Steven Madden from $40.00 to $35.00 and set a "hold" rating on the stock in a research report on Thursday, February 27th. Piper Sandler dropped their target price on shares of Steven Madden from $35.00 to $25.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Telsey Advisory Group reissued a "market perform" rating and issued a $24.00 target price on shares of Steven Madden in a research report on Thursday, May 8th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Steven Madden in a research report on Friday, May 2nd. Nine equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $32.00.

Steven Madden Stock Down 2.1%

Shares of Steven Madden stock traded down $0.52 during trading on Friday, hitting $24.55. The stock had a trading volume of 874,180 shares, compared to its average volume of 1,039,466. The stock has a 50 day simple moving average of $23.38 and a 200 day simple moving average of $34.19. The company has a market capitalization of $1.78 billion, a PE ratio of 10.45 and a beta of 1.04. Steven Madden, Ltd. has a 1 year low of $19.05 and a 1 year high of $50.01.

Steven Madden (NASDAQ:SHOO - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The textile maker reported $0.60 EPS for the quarter, beating analysts' consensus estimates of $0.46 by $0.14. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. The firm had revenue of $551.38 million for the quarter, compared to the consensus estimate of $557.81 million. During the same period in the previous year, the firm posted $0.65 earnings per share. The firm's revenue was up .2% on a year-over-year basis. As a group, equities analysts expect that Steven Madden, Ltd. will post 2.66 earnings per share for the current fiscal year.

Steven Madden Dividend Announcement

The business also recently disclosed 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. This represents a $0.84 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date is Monday, June 9th. Steven Madden's payout ratio is presently 36.21%.

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.