Steven Madden, Ltd. (NASDAQ:SHOO) Shares Sold by Royce & Associates LP

Key Points

• Royce & Associates LP reduced its stake in Steven Madden, Ltd. by 60.9%, selling nearly 95,000 shares, and now owns 61,025 shares valued at approximately $1.63 million.
• Several institutional investors, including CWMLLC and Quarry LP, have recently increased their holdings in Steven Madden, showcasing a significant interest by institutional investors in the stock.
• Steven Madden has seen varied analyst ratings, with Citigroup upgrading it from a "neutral" to a "buy" with a target price increase from $26 to $32, while other analysts maintain a range of hold and neutral ratings.

Royce & Associates LP reduced its position in shares of Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 60.9% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 61,025 shares of the textile maker's stock after selling 94,964 shares during the quarter. Royce & Associates LP owned about 0.08% of Steven Madden worth $1,626,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of SHOO. Mariner LLC raised its position in shares of Steven Madden by 7.2% in the 4th quarter. Mariner LLC now owns 4,740 shares of the textile maker's stock worth $202,000 after acquiring an additional 319 shares in the last quarter. Tidal Investments LLC grew its stake in Steven Madden by 2.4% during the 4th quarter. Tidal Investments LLC now owns 17,784 shares of the textile maker's stock worth $756,000 after buying an additional 409 shares during the last quarter. Bank of Montreal Can grew its stake in Steven Madden by 5.5% during the 4th quarter. Bank of Montreal Can now owns 10,660 shares of the textile maker's stock worth $453,000 after buying an additional 554 shares during the last quarter. HighTower Advisors LLC grew its stake in Steven Madden by 11.7% during the 4th quarter. HighTower Advisors LLC now owns 6,439 shares of the textile maker's stock worth $274,000 after buying an additional 676 shares during the last quarter. Finally, Vident Advisory LLC grew its stake in Steven Madden by 4.6% during the 4th quarter. Vident Advisory LLC now owns 17,267 shares of the textile maker's stock worth $734,000 after buying an additional 756 shares during the last quarter. 99.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Piper Sandler dropped their price target on Steven Madden from $35.00 to $25.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Telsey Advisory Group reiterated a "market perform" rating and set a $26.00 price target (up previously from $24.00) on shares of Steven Madden in a research note on Wednesday. UBS Group boosted their price target on Steven Madden from $23.00 to $26.00 and gave the company a "neutral" rating in a research note on Monday. Needham & Company LLC reiterated a "hold" rating on shares of Steven Madden in a research note on Wednesday. Finally, Citigroup raised Steven Madden from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $26.00 to $32.00 in a report on Thursday, July 17th. Eight equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Steven Madden presently has a consensus rating of "Hold" and an average target price of $30.83.

Steven Madden Price Performance

NASDAQ SHOO traded down $0.18 during trading hours on Friday, reaching $23.84. The company's stock had a trading volume of 911,497 shares, compared to its average volume of 1,552,835. The firm has a market capitalization of $1.73 billion, a price-to-earnings ratio of 18.76 and a beta of 1.10. Steven Madden, Ltd. has a 1-year low of $19.05 and a 1-year high of $50.01. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.01 and a quick ratio of 1.64. The company's 50-day moving average is $25.01 and its two-hundred day moving average is $27.99.

Steven Madden (NASDAQ:SHOO - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The textile maker reported $0.20 earnings per share for the quarter, missing analysts' consensus estimates of $0.24 by ($0.04). The business had revenue of $556.09 million during the quarter, compared to analyst estimates of $575.83 million. Steven Madden had a return on equity of 18.32% and a net margin of 3.92%. The business's revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.57 EPS. On average, equities analysts predict that Steven Madden, Ltd. will post 2.66 EPS for the current year.

Steven Madden Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 23rd. Investors of record on Friday, September 12th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Friday, September 12th. This represents a $0.84 dividend on an annualized basis and a yield of 3.5%. Steven Madden's dividend payout ratio is presently 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.