CX Institutional Decreases Stake in Steven Madden, Ltd. $SHOO

Key Points

• CX Institutional cut its stake in Steven Madden by 13.5% in Q4, leaving it with 280,304 shares (about 0.39% of the company) valued at roughly $11.67 million.
• Director Arian Simone Reed sold 3,600 shares on March 12 (for ~$120,384), a 29.26% reduction in her holdings, leaving her with 8,705 shares.
• Analysts are mixed on SHOO with a consensus rating of “Hold” and an average price target of $43.75 (five Buys, three Holds, one Sell).

CX Institutional lessened its holdings in shares of Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 13.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 280,304 shares of the textile maker's stock after selling 43,914 shares during the period. CX Institutional owned approximately 0.39% of Steven Madden worth $11,672,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the business. Public Employees Retirement System of Ohio raised its holdings in shares of Steven Madden by 13.9% during the third quarter. Public Employees Retirement System of Ohio now owns 2,324 shares of the textile maker's stock worth $78,000 after purchasing an additional 283 shares during the last quarter. First Horizon Corp raised its holdings in shares of Steven Madden by 55.1% during the fourth quarter. First Horizon Corp now owns 892 shares of the textile maker's stock worth $37,000 after purchasing an additional 317 shares during the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of Steven Madden by 0.7% during the second quarter. Thrivent Financial for Lutherans now owns 53,404 shares of the textile maker's stock worth $1,281,000 after purchasing an additional 378 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Steven Madden by 4.1% during the fourth quarter. GAMMA Investing LLC now owns 10,076 shares of the textile maker's stock worth $420,000 after purchasing an additional 396 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in shares of Steven Madden by 79.4% during the fourth quarter. Farther Finance Advisors LLC now owns 983 shares of the textile maker's stock worth $41,000 after purchasing an additional 435 shares during the last quarter. Hedge funds and other institutional investors own 99.88% of the company's stock.

Analyst Upgrades and Downgrades

SHOO has been the subject of several recent research reports. UBS Group reissued a "neutral" rating and set a $40.00 target price (up from $38.00) on shares of Steven Madden in a report on Monday, April 27th. Telsey Advisory Group reissued an "outperform" rating and set a $50.00 target price on shares of Steven Madden in a report on Thursday, February 26th. Jefferies Financial Group cut shares of Steven Madden from a "hold" rating to an "underperform" rating and set a $30.00 target price for the company. in a report on Thursday, February 5th. Williams Trading set a $48.00 target price on shares of Steven Madden in a report on Tuesday, March 10th. Finally, BTIG Research reissued a "buy" rating and set a $50.00 target price on shares of Steven Madden in a report on Thursday. Five analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $43.75.

Insiders Place Their Bets

In related news, Director Arian Simone Reed sold 3,600 shares of the business's stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $33.44, for a total transaction of $120,384.00. Following the transaction, the director directly owned 8,705 shares in the company, valued at approximately $291,095.20. The trade was a 29.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 2.21% of the company's stock.

Steven Madden Stock Down 0.2%

SHOO stock opened at $37.50 on Friday. The firm has a market cap of $2.74 billion, a PE ratio of 60.48 and a beta of 1.12. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.11 and a current ratio of 1.90. The firm's fifty day moving average is $35.71 and its 200 day moving average is $38.88. Steven Madden, Ltd. has a one year low of $19.75 and a one year high of $46.88.

Steven Madden (NASDAQ:SHOO - Get Free Report) last announced its earnings results on Wednesday, February 25th. The textile maker reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.02. Steven Madden had a net margin of 1.76% and a return on equity of 13.60%. The business had revenue of $753.70 million for the quarter, compared to analyst estimates of $758.53 million. During the same quarter last year, the business earned $0.55 earnings per share. The company's revenue for the quarter was up 29.6% compared to the same quarter last year. On average, research analysts forecast that Steven Madden, Ltd. will post 2.09 EPS for the current year.

Steven Madden Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 20th. Investors of record on Wednesday, March 11th were given a dividend of $0.21 per share. The ex-dividend date was Wednesday, March 11th. This represents a $0.84 dividend on an annualized basis and a yield of 2.2%. Steven Madden's payout ratio is presently 135.48%.

Steven Madden Company Profile

Steven Madden, Inc NASDAQ: SHOO is a New York–based designer and marketer of fashion footwear, handbags and accessories. The company's product portfolio spans a range of contemporary and lifestyle brands for women, men and children, including its core Steve Madden label as well as the Madden Girl and Dolce Vita brands. In addition to footwear, the company licenses its trademarks for use on apparel, eyewear and other fashion accessories.

Steven Madden distributes its products through multiple channels, including wholesale partners, e-commerce platforms and its own brick-and-mortar retail stores.

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