Steven Madden, Ltd. (NASDAQ:SHOO) Shares Sold by Jane Street Group LLC

Jane Street Group LLC lowered its holdings in shares of Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 65.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 42,208 shares of the textile maker's stock after selling 81,314 shares during the period. Jane Street Group LLC owned 0.06% of Steven Madden worth $1,795,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Pictet Asset Management Holding SA raised its holdings in shares of Steven Madden by 17.9% in the fourth quarter. Pictet Asset Management Holding SA now owns 10,503 shares of the textile maker's stock valued at $447,000 after buying an additional 1,594 shares during the last quarter. Bank of Montreal Can increased its position in Steven Madden by 5.5% in the 4th quarter. Bank of Montreal Can now owns 10,660 shares of the textile maker's stock valued at $453,000 after acquiring an additional 554 shares during the period. Principal Financial Group Inc. raised its stake in Steven Madden by 3.1% during the 4th quarter. Principal Financial Group Inc. now owns 381,196 shares of the textile maker's stock valued at $16,208,000 after acquiring an additional 11,602 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Steven Madden by 26.4% during the 4th quarter. JPMorgan Chase & Co. now owns 584,068 shares of the textile maker's stock worth $24,835,000 after acquiring an additional 121,972 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Steven Madden by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,122,680 shares of the textile maker's stock valued at $47,736,000 after purchasing an additional 25,903 shares during the last quarter. 99.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on SHOO. Needham & Company LLC restated a "hold" rating on shares of Steven Madden in a research note on Friday, May 2nd. Loop Capital dropped their price objective on shares of Steven Madden from $40.00 to $35.00 and set a "hold" rating on the stock in a research note on Thursday, February 27th. Jefferies Financial Group restated a "hold" rating on shares of Steven Madden in a research report on Monday, February 3rd. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $24.00 target price on shares of Steven Madden in a report on Thursday, May 8th. Finally, Piper Sandler dropped their price target on shares of Steven Madden from $35.00 to $25.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Nine equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Steven Madden currently has a consensus rating of "Hold" and a consensus target price of $32.00.

Steven Madden Stock Performance

NASDAQ:SHOO traded down $1.80 during trading hours on Wednesday, hitting $24.69. The company's stock had a trading volume of 1,382,664 shares, compared to its average volume of 1,032,540. Steven Madden, Ltd. has a 52-week low of $19.05 and a 52-week high of $50.01. The business's 50-day moving average is $23.42 and its two-hundred day moving average is $34.54. The company has a market capitalization of $1.79 billion, a PE ratio of 10.51 and a beta of 1.04.

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

Steven Madden Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Monday, June 9th will be given 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 dividend yield of 3.40%. Steven Madden's payout ratio is 36.21%.

About Steven Madden

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.