Deutsche Bank AG boosted its position in Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 49.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 64,998 shares of the textile maker's stock after acquiring an additional 21,363 shares during the period. Deutsche Bank AG owned 0.09% of Steven Madden worth $2,764,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. R Squared Ltd bought a new position in shares of Steven Madden in the 4th quarter valued at about $55,000. Quarry LP lifted its holdings in Steven Madden by 403.6% in the fourth 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 period. Blue Trust Inc. boosted its stake in Steven Madden by 20.9% in the fourth quarter. Blue Trust Inc. now owns 1,958 shares of the textile maker's stock valued at $83,000 after acquiring an additional 339 shares during the last quarter. KBC Group NV boosted its stake in Steven Madden by 36.5% in the fourth quarter. KBC Group NV now owns 3,013 shares of the textile maker's stock valued at $128,000 after acquiring an additional 805 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in Steven Madden by 21.6% during 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 and hedge funds.
Steven Madden Stock Performance
SHOO stock traded up $0.73 during mid-day trading on Tuesday, hitting $25.28. 105,177 shares of the company were exchanged, compared to its average volume of 1,038,055. The firm has a market cap of $1.84 billion, a P/E ratio of 10.74 and a beta of 1.04. Steven Madden, Ltd. has a 1-year low of $19.05 and a 1-year high of $50.01. The firm's 50 day simple moving average is $23.36 and its 200 day simple moving average is $33.90.
Steven Madden (NASDAQ:SHOO - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The textile maker reported $0.60 EPS for the quarter, topping analysts' consensus estimates of $0.46 by $0.14. The business had revenue of $551.38 million for the quarter, compared to analyst estimates of $557.81 million. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. The firm's quarterly revenue was up .2% on a year-over-year basis. During the same period last year, the business posted $0.65 earnings per share. On average, equities research analysts predict 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 will be paid on Friday, June 20th. Investors of record on Monday, June 9th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date is Monday, June 9th. Steven Madden's dividend payout ratio is presently 36.21%.
Wall Street Analyst Weigh In
A number of research firms have recently weighed in on SHOO. Piper Sandler cut 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. Needham & Company LLC reissued a "hold" rating on shares of Steven Madden in a research note on Friday, May 2nd. Citigroup decreased their target price on Steven Madden from $35.00 to $23.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. UBS Group upped 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. Finally, Telsey Advisory Group reissued a "market perform" rating and set a $24.00 price objective on shares of Steven Madden in a research note on Thursday, May 8th. Nine research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Steven Madden currently has an average rating of "Hold" and an average target price of $32.00.
Read Our Latest Stock Analysis on Steven Madden
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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