Nuveen Asset Management LLC cut its stake in Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 2.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 981,886 shares of the textile maker's stock after selling 26,505 shares during the period. Nuveen Asset Management LLC owned about 1.36% of Steven Madden worth $41,750,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SHOO. R Squared Ltd purchased a new position in shares of Steven Madden during the 4th quarter valued at approximately $55,000. Quarry LP grew its position 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 valued at $59,000 after buying an additional 1,110 shares during the last quarter. Blue Trust Inc. grew its position in Steven Madden by 20.9% during the 4th quarter. Blue Trust Inc. now owns 1,958 shares of the textile maker's stock worth $83,000 after purchasing an additional 339 shares during the last quarter. KBC Group NV lifted 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 during the period. Finally, Smartleaf Asset Management LLC lifted 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 during the period. 99.88% of the stock is currently owned by institutional investors.
Steven Madden Stock Performance
Shares of NASDAQ:SHOO traded down $0.52 on Friday, hitting $24.55. The stock had a trading volume of 874,180 shares, compared to its average volume of 1,041,574. The firm's 50 day moving average price is $23.38 and its 200-day moving average price is $34.04. The company has a market capitalization of $1.78 billion, a price-to-earnings ratio of 10.45 and a beta of 1.04. Steven Madden, Ltd. has a twelve month low of $19.05 and a twelve month high of $50.01.
Steven Madden (NASDAQ:SHOO - Get Free Report) last released its 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 company had revenue of $551.38 million for the quarter, compared to the consensus estimate of $557.81 million. During the same period in the prior year, the company posted $0.65 EPS. The company's revenue was up .2% compared to the same quarter last year. 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 business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Monday, June 9th will be issued a dividend of $0.21 per share. The ex-dividend date is Monday, June 9th. This represents a $0.84 annualized dividend and a yield of 3.42%. Steven Madden's dividend payout ratio (DPR) is currently 36.21%.
Wall Street Analysts Forecast Growth
Several equities analysts have weighed in on the stock. Citigroup dropped their target price on shares of Steven Madden from $35.00 to $23.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Piper Sandler lowered their target price on shares of Steven Madden from $35.00 to $25.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Loop Capital decreased their price objective on shares of Steven Madden from $40.00 to $35.00 and set a "hold" rating for the company in a research note on Thursday, February 27th. Jefferies Financial Group reissued a "hold" rating on shares of Steven Madden in a research report on Monday, February 3rd. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Steven Madden in a report on Friday, May 2nd. Nine investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, Steven Madden has a consensus rating of "Hold" and an average target price of $32.00.
View Our Latest Report on SHOO
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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