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

Millennium Management LLC acquired a new position in shares of Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 48,572 shares of the textile maker's stock, valued at approximately $2,065,000. Millennium Management LLC owned about 0.07% of Steven Madden at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. R Squared Ltd bought a new stake in shares of Steven Madden in the 4th quarter worth $55,000. Quarry LP grew its stake in shares of Steven Madden by 403.6% in the 4th quarter. Quarry LP now owns 1,385 shares of the textile maker's stock worth $59,000 after acquiring an additional 1,110 shares in the last quarter. Blue Trust Inc. grew its stake in shares of Steven Madden by 20.9% in the 4th quarter. Blue Trust Inc. now owns 1,958 shares of the textile maker's stock worth $83,000 after acquiring an additional 339 shares in the last quarter. KBC Group NV grew its stake in shares of Steven Madden by 36.5% in the 4th quarter. KBC Group NV now owns 3,013 shares of the textile maker's stock worth $128,000 after acquiring an additional 805 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in shares of Steven Madden by 21.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,171 shares of the textile maker's stock worth $176,000 after acquiring an additional 741 shares in the last quarter. Institutional investors own 99.88% of the company's stock.

Analyst Ratings Changes

Several research firms have recently issued reports on SHOO. UBS Group upped 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. Loop Capital reduced their price target on shares of Steven Madden from $40.00 to $35.00 and set a "hold" rating for the company in a research report on Thursday, February 27th. Citigroup reduced their price target on shares of Steven Madden from $35.00 to $23.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Needham & Company LLC restated a "hold" rating on shares of Steven Madden in a research report on Friday, May 2nd. Finally, Piper Sandler reduced their price target on shares of Steven Madden from $35.00 to $25.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Nine investment 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 an average rating of "Hold" and an average target price of $32.00.

Steven Madden Price Performance

NASDAQ:SHOO traded down $0.40 on Thursday, reaching $24.27. 120,476 shares of the company's stock were exchanged, compared to its average volume of 1,053,585. The firm has a market cap of $1.76 billion, a price-to-earnings ratio of 10.29 and a beta of 1.04. Steven Madden, Ltd. has a 52 week low of $19.05 and a 52 week high of $50.01. The stock has a fifty day simple moving average of $23.14 and a 200-day simple moving average of $33.12.

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. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. The firm had revenue of $551.38 million during the quarter, compared to analyst estimates of $557.81 million. During the same quarter last year, the business earned $0.65 earnings per share. The company's quarterly revenue was up .2% on a year-over-year basis. As a group, sell-side analysts predict that Steven Madden, Ltd. will post 2.66 EPS for the current year.

Steven Madden Dividend Announcement

The company also recently declared 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. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date is Monday, June 9th. Steven Madden's payout ratio is 36.21%.

Steven Madden 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.