Allspring Global Investments Holdings LLC Buys 332,689 Shares of Steven Madden, Ltd. (NASDAQ:SHOO)

Allspring Global Investments Holdings LLC boosted its holdings in shares of Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 29.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,455,381 shares of the textile maker's stock after buying an additional 332,689 shares during the quarter. Allspring Global Investments Holdings LLC owned about 2.01% of Steven Madden worth $39,907,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of SHOO. Mariner LLC grew its position in shares of Steven Madden by 7.2% in the fourth quarter. Mariner LLC now owns 4,740 shares of the textile maker's stock valued at $202,000 after purchasing an additional 319 shares during the last quarter. Moran Wealth Management LLC grew its position in shares of Steven Madden by 1.6% in the fourth quarter. Moran Wealth Management LLC now owns 21,126 shares of the textile maker's stock valued at $898,000 after purchasing an additional 325 shares during the last quarter. Tidal Investments LLC grew its position in shares of Steven Madden by 2.4% in the fourth quarter. Tidal Investments LLC now owns 17,784 shares of the textile maker's stock valued at $756,000 after purchasing an additional 409 shares during the last quarter. Bank of Montreal Can grew its position in shares of Steven Madden by 5.5% in the fourth quarter. Bank of Montreal Can now owns 10,660 shares of the textile maker's stock valued at $453,000 after purchasing an additional 554 shares during the last quarter. Finally, Xponance Inc. grew its position in shares of Steven Madden by 12.3% in the fourth quarter. Xponance Inc. now owns 5,320 shares of the textile maker's stock valued at $226,000 after purchasing an additional 584 shares during the last quarter. 99.88% of the stock is owned by institutional investors and hedge funds.

Steven Madden Stock Up 5.1%

SHOO traded up $1.22 during midday trading on Tuesday, reaching $25.20. 1,742,566 shares of the company's stock were exchanged, compared to its average volume of 1,113,879. The firm has a market capitalization of $1.83 billion, a price-to-earnings ratio of 10.86 and a beta of 1.12. Steven Madden, Ltd. has a one year low of $19.05 and a one year high of $50.01. The business has a 50-day simple moving average of $23.84 and a two-hundred day simple moving average of $30.44.

Steven Madden (NASDAQ:SHOO - Get Free Report) last posted 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 7.26% and a return on equity of 21.63%. The company had revenue of $551.38 million during the quarter, compared to analysts' expectations of $557.81 million. During the same quarter in the previous year, the company posted $0.65 earnings per share. Steven Madden's quarterly revenue was up .2% compared to the same quarter last year. As a group, research analysts anticipate that Steven Madden, Ltd. will post 2.66 EPS for the current fiscal year.

Steven Madden Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Monday, June 9th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date was Monday, June 9th. Steven Madden's dividend payout ratio (DPR) is currently 36.21%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on SHOO shares. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $24.00 price target on shares of Steven Madden in a research report on Wednesday, June 4th. Needham & Company LLC restated a "hold" rating on shares of Steven Madden in a research note on Friday, May 2nd. UBS Group boosted their price target on Steven Madden from $22.00 to $23.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. Citigroup lowered their price target on 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, Piper Sandler cut 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 note on Friday, April 11th. Nine investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Steven Madden has an average rating of "Hold" and an average target price of $28.50.

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.