BNP Paribas Financial Markets Cuts Position in Steven Madden, Ltd. (NASDAQ:SHOO)

BNP Paribas Financial Markets lowered its position in shares of Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 71.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,806 shares of the textile maker's stock after selling 29,368 shares during the period. BNP Paribas Financial Markets' holdings in Steven Madden were worth $502,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of SHOO. Pacer Advisors Inc. acquired a new stake in Steven Madden in the fourth quarter valued at $72,795,000. First Trust Advisors LP increased its stake in Steven Madden by 36.9% during the fourth quarter. First Trust Advisors LP now owns 2,002,228 shares of the textile maker's stock worth $85,135,000 after acquiring an additional 539,738 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Steven Madden during the fourth quarter worth approximately $13,652,000. Norges Bank purchased a new position in Steven Madden in the fourth quarter valued at about $9,399,000. Finally, Trexquant Investment LP grew its position in Steven Madden by 147.3% in the fourth quarter. Trexquant Investment LP now owns 257,334 shares of the textile maker's stock valued at $10,942,000 after acquiring an additional 153,280 shares in the last quarter. Institutional investors and hedge funds own 99.88% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on SHOO shares. 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 report on Thursday, February 27th. UBS Group lifted their price target on Steven Madden from $22.00 to $23.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Piper Sandler cut their price objective 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. Needham & Company LLC restated a "hold" rating on shares of Steven Madden in a research report on Friday, May 2nd. Finally, Citigroup reduced 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. Nine investment analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, Steven Madden presently has a consensus rating of "Hold" and an average target price of $32.00.

Steven Madden Stock Performance

SHOO traded up $1.65 during trading on Tuesday, reaching $26.20. The stock had a trading volume of 1,193,441 shares, compared to its average volume of 1,042,182. The stock has a market cap of $1.90 billion, a PE ratio of 11.15 and a beta of 1.04. Steven Madden, Ltd. has a one year low of $19.05 and a one year high of $50.01. The business has a 50-day moving average of $23.36 and a 200-day moving average of $33.90.

Steven Madden (NASDAQ:SHOO - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The textile maker reported $0.60 EPS for the quarter, topping the consensus estimate of $0.46 by $0.14. The business had revenue of $551.38 million during the quarter, compared to analyst estimates of $557.81 million. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. The company's revenue for the quarter was up .2% on a year-over-year basis. During the same period in the prior year, the business earned $0.65 EPS. Equities research analysts forecast that Steven Madden, Ltd. will post 2.66 EPS for the current fiscal year.

Steven Madden Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Monday, June 9th will be issued 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 3.21%. Steven Madden's dividend payout ratio is currently 36.21%.

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.