Kornitzer Capital Management Inc. KS lowered its position in Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 41.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 115,827 shares of the textile maker's stock after selling 81,830 shares during the period. Kornitzer Capital Management Inc. KS owned approximately 0.16% of Steven Madden worth $3,086,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of the company. Pictet Asset Management Holding SA raised its stake in 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. Deutsche Bank AG grew its stake in Steven Madden by 49.0% during the 4th quarter. Deutsche Bank AG now owns 64,998 shares of the textile maker's stock valued at $2,764,000 after purchasing an additional 21,363 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Steven Madden by 2.8% in the first quarter. Principal Financial Group Inc. now owns 391,937 shares of the textile maker's stock valued at $10,441,000 after purchasing an additional 10,741 shares during the period. Bank of Montreal Can raised its stake in shares of Steven Madden by 5.5% in the fourth quarter. Bank of Montreal Can now owns 10,660 shares of the textile maker's stock worth $453,000 after purchasing an additional 554 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Steven Madden by 29.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,455,381 shares of the textile maker's stock valued at $39,907,000 after acquiring an additional 332,689 shares during the last quarter. Institutional investors own 99.88% of the company's stock.
Analysts Set New Price Targets
A number of research firms recently weighed in on SHOO. Piper Sandler reduced their price target on Steven Madden from $35.00 to $25.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Needham & Company LLC reissued a "hold" rating on shares of Steven Madden in a report on Friday, May 2nd. UBS Group increased their price objective on shares of Steven Madden from $22.00 to $23.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Telsey Advisory Group reiterated a "market perform" rating and set a $24.00 price objective on shares of Steven Madden in a research note on Wednesday, June 4th. Finally, Citigroup upgraded Steven Madden from a "neutral" rating to a "buy" rating and raised their price objective for the company from $26.00 to $32.00 in a report on Thursday. Eight research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $30.00.
View Our Latest Report on Steven Madden
Steven Madden Stock Up 7.0%
NASDAQ:SHOO traded up $1.73 on Thursday, reaching $26.31. The company's stock had a trading volume of 1,315,775 shares, compared to its average volume of 1,140,915. Steven Madden, Ltd. has a 12-month low of $19.05 and a 12-month high of $50.01. The stock has a 50 day moving average price of $24.89 and a 200 day moving average price of $29.17. The firm has a market cap of $1.91 billion, a price-to-earnings ratio of 11.25 and a beta of 1.10.
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 for the quarter, beating analysts' consensus estimates of $0.46 by $0.14. The business had revenue of $551.38 million during the quarter, compared to analysts' expectations of $557.81 million. Steven Madden had a net margin of 7.26% and a return on equity of 21.63%. The business's revenue for the quarter was up .2% on a year-over-year basis. During the same period last year, the business earned $0.65 earnings per share. Equities research analysts expect that Steven Madden, Ltd. will post 2.66 EPS for the current fiscal year.
Steven Madden Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Monday, June 9th were issued a $0.21 dividend. The ex-dividend date was Monday, June 9th. This represents a $0.84 annualized dividend and a yield of 3.19%. Steven Madden's dividend payout ratio (DPR) is 36.21%.
Steven Madden Profile
(
Free Report)
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.
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