Millennium Management LLC Takes Position in Steven Madden, Ltd. (NASDAQ:SHOO)

Millennium Management LLC bought a new position in shares of Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 48,572 shares of the textile maker's stock, valued at approximately $2,065,000. Millennium Management LLC owned 0.07% of Steven Madden as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Barclays PLC increased its position in shares of Steven Madden by 286.9% in the 3rd quarter. Barclays PLC now owns 139,206 shares of the textile maker's stock valued at $6,819,000 after acquiring an additional 103,226 shares during the period. SG Americas Securities LLC lifted its stake in Steven Madden by 181.2% in the 4th quarter. SG Americas Securities LLC now owns 9,112 shares of the textile maker's stock valued at $387,000 after buying an additional 5,872 shares in the last quarter. Blue Trust Inc. lifted its stake in Steven Madden by 20.9% in the 4th quarter. Blue Trust Inc. now owns 1,958 shares of the textile maker's stock valued at $83,000 after buying an additional 339 shares in the last quarter. KBC Group NV lifted its stake in Steven Madden by 36.5% in the 4th quarter. KBC Group NV now owns 3,013 shares of the textile maker's stock valued at $128,000 after buying an additional 805 shares in the last quarter. Finally, R Squared Ltd purchased a new position in Steven Madden in the 4th quarter valued at about $55,000. Hedge funds and other institutional investors own 99.88% of the company's stock.

Wall Street Analyst Weigh In

SHOO has been the topic of a number of research reports. Piper Sandler decreased 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. Needham & Company LLC reissued a "hold" rating on shares of Steven Madden in a research note on Friday, May 2nd. Telsey Advisory Group reissued a "market perform" rating and issued a $24.00 target price on shares of Steven Madden in a research note on Wednesday. Citigroup decreased their target price on shares of Steven Madden from $35.00 to $23.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. Finally, Loop Capital decreased their target price 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. Nine equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $32.00.

Steven Madden Price Performance

Shares of SHOO stock remained flat at $24.67 on Thursday. 1,306,126 shares of the company were exchanged, compared to its average volume of 1,060,924. The company's fifty day moving average price is $23.10 and its 200 day moving average price is $32.99. The stock has a market cap of $1.79 billion, a P/E ratio of 10.50 and a beta of 1.04. Steven Madden, Ltd. has a 12-month low of $19.05 and a 12-month high of $50.01.

Steven Madden (NASDAQ:SHOO - Get Free Report) last issued its earnings results on Wednesday, May 7th. The textile maker reported $0.60 EPS 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 the consensus estimate of $557.81 million. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. The company's revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.65 earnings per share. On average, sell-side analysts anticipate that Steven Madden, Ltd. will post 2.66 earnings per share for the current year.

Steven Madden Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Monday, June 9th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.84 annualized dividend and a yield of 3.40%. Steven Madden's dividend payout ratio is presently 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.