D. E. Shaw & Co. Inc. trimmed its position in Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 43.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 35,513 shares of the textile maker's stock after selling 27,281 shares during the period. D. E. Shaw & Co. Inc.'s holdings in Steven Madden were worth $1,510,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of SHOO. Vanguard Group Inc. increased its holdings in Steven Madden by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 8,097,339 shares of the textile maker's stock valued at $344,299,000 after buying an additional 54,877 shares during the period. First Trust Advisors LP lifted its holdings in shares of Steven Madden by 36.9% in the fourth quarter. First Trust Advisors LP now owns 2,002,228 shares of the textile maker's stock valued at $85,135,000 after purchasing an additional 539,738 shares in the last quarter. Invesco Ltd. grew its stake in shares of Steven Madden by 8.6% during the 4th quarter. Invesco Ltd. now owns 1,745,456 shares of the textile maker's stock worth $74,217,000 after acquiring an additional 138,065 shares in the last quarter. Pacer Advisors Inc. bought a new stake in Steven Madden during the 4th quarter worth about $72,795,000. Finally, Charles Schwab Investment Management Inc. grew its stake in Steven Madden by 2.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,122,680 shares of the textile maker's stock valued at $47,736,000 after purchasing an additional 25,903 shares in the last quarter. 99.88% of the stock is owned by institutional investors and hedge funds.
Steven Madden Stock Performance
SHOO traded down $0.32 on Wednesday, hitting $25.89. The company had a trading volume of 86,090 shares, compared to its average volume of 1,038,456. The stock has a market capitalization of $1.88 billion, a price-to-earnings ratio of 11.02 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. The stock has a fifty day moving average price of $23.37 and a 200-day moving average price of $33.84.
Steven Madden (NASDAQ:SHOO - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The textile maker reported $0.60 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $557.81 million. During the same period in the prior year, the company earned $0.65 earnings per share. The firm's revenue was up .2% on a year-over-year basis. Analysts forecast that Steven Madden, Ltd. will post 2.66 EPS for the current fiscal year.
Steven Madden Announces Dividend
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 $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.25%. The ex-dividend date is Monday, June 9th. Steven Madden's payout ratio is currently 36.21%.
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on the company. Citigroup lowered their price objective on Steven Madden from $35.00 to $23.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. UBS Group raised their price objective on Steven Madden from $22.00 to $23.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Telsey Advisory Group reaffirmed a "market perform" rating and set a $24.00 target price on shares of Steven Madden in a research note on Thursday, May 8th. Loop Capital lowered their price target on Steven Madden from $40.00 to $35.00 and set a "hold" rating for the company in a research report on Thursday, February 27th. Finally, Jefferies Financial Group reiterated a "hold" rating on shares of Steven Madden in a research report on Monday, February 3rd. Nine analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $32.00.
Check Out Our Latest Report on Steven Madden
Steven Madden Company 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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