Geode Capital Management LLC Sells 51,571 Shares of Steven Madden, Ltd. $SHOO

Key Points

• Geode Capital Management reduced its Steven Madden stake by 2.8% in the fourth quarter, selling 51,571 shares and ending with 1,777,734 shares valued at about $74.0 million.
• Steven Madden reported strong quarterly results, with EPS of $0.45 beating estimates and revenue rising 18% year over year to $653.1 million. The company also issued FY2026 guidance of $2.00 to $2.10 EPS.
• The company declared a quarterly dividend of $0.21 per share, or $0.84 annualized, for a 1.9% yield. Meanwhile, analysts are mixed, with a consensus rating of “Hold” and an average price target of $43.88.

Geode Capital Management LLC lowered its position in Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 2.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,777,734 shares of the textile maker's stock after selling 51,571 shares during the period. Geode Capital Management LLC owned about 2.45% of Steven Madden worth $74,037,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Broad Peak Investment Advisers Pte Ltd bought a new stake in shares of Steven Madden in the fourth quarter worth $3,348,000. Vanguard Group Inc. grew its holdings in shares of Steven Madden by 2.5% in the third quarter. Vanguard Group Inc. now owns 8,283,806 shares of the textile maker's stock worth $277,342,000 after acquiring an additional 200,013 shares during the period. William Blair Investment Management LLC grew its holdings in shares of Steven Madden by 7.1% in the third quarter. William Blair Investment Management LLC now owns 725,449 shares of the textile maker's stock worth $24,288,000 after acquiring an additional 48,234 shares during the period. Legato Capital Management LLC grew its holdings in shares of Steven Madden by 134.9% in the fourth quarter. Legato Capital Management LLC now owns 142,647 shares of the textile maker's stock worth $5,940,000 after acquiring an additional 81,922 shares during the period. Finally, Public Sector Pension Investment Board grew its holdings in shares of Steven Madden by 14.5% in the third quarter. Public Sector Pension Investment Board now owns 283,370 shares of the textile maker's stock worth $9,487,000 after acquiring an additional 35,779 shares during the period. Institutional investors own 99.88% of the company's stock.

Insider Buying and Selling

In related news, Director Arian Simone Reed sold 3,600 shares of the stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $33.44, for a total transaction of $120,384.00. Following the completion of the transaction, the director directly owned 8,705 shares of the company's stock, valued at approximately $291,095.20. This represents a 29.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 4,723 shares of company stock worth $167,099 over the last three months. 2.21% of the stock is currently owned by corporate insiders.

Steven Madden Price Performance

Shares of Steven Madden stock opened at $45.31 on Tuesday. The stock has a 50 day moving average of $39.10 and a 200 day moving average of $39.85. Steven Madden, Ltd. has a 12 month low of $22.26 and a 12 month high of $46.88. The firm has a market cap of $3.31 billion, a PE ratio of 43.15 and a beta of 1.15. The company has a current ratio of 2.23, a quick ratio of 1.42 and a debt-to-equity ratio of 0.30.

Steven Madden (NASDAQ:SHOO - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The textile maker reported $0.45 EPS for the quarter, beating analysts' consensus estimates of $0.42 by $0.03. Steven Madden had a return on equity of 12.29% and a net margin of 2.89%.The company had revenue of $653.10 million during the quarter, compared to analyst estimates of $646.64 million. During the same period in the prior year, the company earned $0.60 earnings per share. The firm's revenue was up 18.0% on a year-over-year basis. Steven Madden has set its FY 2026 guidance at 2.000-2.100 EPS. On average, research analysts expect that Steven Madden, Ltd. will post 2.09 EPS for the current fiscal year.

Steven Madden Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 19th. Investors of record on Monday, June 8th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, June 8th. This represents a $0.84 dividend on an annualized basis and a yield of 1.9%. Steven Madden's dividend payout ratio is presently 80.00%.

Analyst Upgrades and Downgrades

Several analysts recently commented on SHOO shares. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Steven Madden in a report on Tuesday, April 21st. Needham & Company LLC boosted their price target on Steven Madden from $41.00 to $42.00 and gave the company a "buy" rating in a report on Monday, May 4th. BTIG Research reissued a "buy" rating and set a $50.00 price target on shares of Steven Madden in a report on Thursday, June 4th. Zacks Research raised Steven Madden from a "strong sell" rating to a "hold" rating in a report on Wednesday, April 8th. Finally, Telsey Advisory Group reissued an "outperform" rating and set a $50.00 price target on shares of Steven Madden in a report on Thursday, February 26th. Five investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Steven Madden has a consensus rating of "Hold" and an average target price of $43.88.

About Steven Madden

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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