GAMMA Investing LLC Grows Holdings in Steven Madden, Ltd. (NASDAQ:SHOO)

GAMMA Investing LLC raised its position in Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 3,814.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 36,683 shares of the textile maker's stock after acquiring an additional 35,746 shares during the quarter. GAMMA Investing LLC owned approximately 0.05% of Steven Madden worth $977,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Pictet Asset Management Holding SA lifted its stake in shares of Steven Madden by 17.9% in the 4th quarter. Pictet Asset Management Holding SA now owns 10,503 shares of the textile maker's stock worth $447,000 after purchasing an additional 1,594 shares during the period. Deutsche Bank AG raised its position in Steven Madden by 49.0% in the fourth quarter. Deutsche Bank AG now owns 64,998 shares of the textile maker's stock worth $2,764,000 after acquiring an additional 21,363 shares during the period. Bank of Montreal Can boosted its stake in shares of Steven Madden by 5.5% during the 4th quarter. Bank of Montreal Can now owns 10,660 shares of the textile maker's stock worth $453,000 after acquiring an additional 554 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Steven Madden by 3.1% during the 4th quarter. Principal Financial Group Inc. now owns 381,196 shares of the textile maker's stock worth $16,208,000 after acquiring an additional 11,602 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of Steven Madden by 26.4% during the 4th quarter. JPMorgan Chase & Co. now owns 584,068 shares of the textile maker's stock valued at $24,835,000 after acquiring an additional 121,972 shares during the period. Institutional investors own 99.88% of the company's stock.

Wall Street Analyst Weigh In

SHOO has been the topic of several analyst reports. Telsey Advisory Group reiterated a "market perform" rating and set a $24.00 target price on shares of Steven Madden in a research report on Wednesday, June 4th. Loop Capital decreased their price objective on Steven Madden from $40.00 to $35.00 and set a "hold" rating on the stock in a research note on Thursday, February 27th. Citigroup cut their price objective on Steven Madden from $35.00 to $23.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. UBS Group raised their target price on shares of Steven Madden from $22.00 to $23.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Finally, Piper Sandler lowered their price target on shares of Steven Madden from $35.00 to $25.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Nine analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $28.50.

Steven Madden Stock Down 0.9%

SHOO stock traded down $0.21 during midday trading on Friday, hitting $23.04. The company's stock had a trading volume of 562,792 shares, compared to its average volume of 1,088,287. Steven Madden, Ltd. has a 12 month low of $19.05 and a 12 month high of $50.01. The company has a 50 day moving average of $23.34 and a two-hundred day moving average of $31.62. The firm has a market capitalization of $1.67 billion, a price-to-earnings ratio of 9.93 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. The firm had revenue of $551.38 million during the quarter, compared to analyst estimates of $557.81 million. Steven Madden had a net margin of 7.26% and a return on equity of 21.63%. Steven Madden's revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.65 earnings per share. On average, analysts anticipate that Steven Madden, Ltd. will post 2.66 earnings per share for the current fiscal year.

Steven Madden Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Monday, June 9th will be issued a $0.21 dividend. The ex-dividend date is Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 3.65%. Steven Madden's dividend payout ratio (DPR) is 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.