BNP Paribas Financial Markets Trims Holdings 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% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,806 shares of the textile maker's stock after selling 29,368 shares during the quarter. BNP Paribas Financial Markets' holdings in Steven Madden were worth $502,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of SHOO. Vanguard Group Inc. increased its stake in shares of Steven Madden by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 8,097,339 shares of the textile maker's stock worth $344,299,000 after acquiring an additional 54,877 shares during the period. First Trust Advisors LP boosted its holdings in Steven Madden by 36.9% in the 4th quarter. First Trust Advisors LP now owns 2,002,228 shares of the textile maker's stock valued at $85,135,000 after purchasing an additional 539,738 shares in the last quarter. Invesco Ltd. increased its position in Steven Madden by 8.6% during the 4th quarter. Invesco Ltd. now owns 1,745,456 shares of the textile maker's stock worth $74,217,000 after purchasing an additional 138,065 shares during the period. Pacer Advisors Inc. purchased a new position in shares of Steven Madden during the 4th quarter worth approximately $72,795,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Steven Madden by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,122,680 shares of the textile maker's stock worth $47,736,000 after buying an additional 25,903 shares in the last quarter. Hedge funds and other institutional investors own 99.88% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on SHOO shares. Citigroup dropped their price objective on Steven Madden from $35.00 to $23.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. 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 research report on Thursday, May 8th. Loop Capital cut their price target on shares of Steven Madden from $40.00 to $35.00 and set a "hold" rating for the company in a report on Thursday, February 27th. Needham & Company LLC reiterated a "hold" rating on shares of Steven Madden in a research note on Friday, May 2nd. Finally, Piper Sandler lowered 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. Nine 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 currently has a consensus rating of "Hold" and an average target price of $32.00.

Steven Madden Stock Down 0.9%

Shares of Steven Madden stock traded down $0.24 on Thursday, hitting $25.37. The company's stock had a trading volume of 1,323,910 shares, compared to its average volume of 1,047,124. The company has a market capitalization of $1.84 billion, a P/E ratio of 10.80 and a beta of 1.04. Steven Madden, Ltd. has a 52-week low of $19.05 and a 52-week high of $50.01. The firm has a fifty day moving average price of $23.34 and a 200-day moving average price of $33.65.

Steven Madden (NASDAQ:SHOO - Get Free Report) last announced its earnings results on Wednesday, May 7th. The textile maker reported $0.60 earnings per share (EPS) for the quarter, topping 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 company had revenue of $551.38 million during the quarter, compared to analysts' expectations of $557.81 million. During the same quarter in the previous year, the business posted $0.65 earnings per share. The firm's quarterly revenue was up .2% compared to the same quarter last year. As a group, analysts expect that Steven Madden, Ltd. will post 2.66 earnings per share for the current year.

Steven Madden Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Monday, June 9th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date of this dividend is Monday, June 9th. Steven Madden's 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.