Deutsche Bank AG raised its position in Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 49.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 64,998 shares of the textile maker's stock after purchasing an additional 21,363 shares during the quarter. Deutsche Bank AG owned about 0.09% of Steven Madden worth $2,764,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its position in Steven Madden by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 8,097,339 shares of the textile maker's stock worth $344,299,000 after acquiring an additional 54,877 shares during the period. First Trust Advisors LP lifted its stake in shares of Steven Madden by 36.9% in the 4th 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 during the last quarter. Invesco Ltd. grew its holdings 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 purchasing an additional 138,065 shares during the period. Pacer Advisors Inc. acquired a new stake in shares of Steven Madden during the 4th quarter worth about $72,795,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in Steven Madden by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,122,680 shares of the textile maker's stock valued at $47,736,000 after buying an additional 25,903 shares during the period. Institutional investors and hedge funds own 99.88% of the company's stock.
Analyst Ratings Changes
Several brokerages have weighed in on SHOO. Needham & Company LLC reaffirmed a "hold" rating on shares of Steven Madden in a research note on Friday, May 2nd. Telsey Advisory Group reissued a "market perform" rating and issued a $24.00 target price on shares of Steven Madden in a research report on Thursday, May 8th. Piper Sandler dropped their price objective on Steven Madden from $35.00 to $25.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Citigroup lowered their target price on Steven Madden from $35.00 to $23.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Finally, Jefferies Financial Group restated a "hold" rating on shares of Steven Madden in a report on Monday, February 3rd. Nine analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $32.00.
Check Out Our Latest Report on Steven Madden
Steven Madden Stock Up 6.7%
SHOO traded up $1.65 on Tuesday, reaching $26.20. The company's stock had a trading volume of 1,193,441 shares, compared to its average volume of 1,042,183. The company has a market capitalization of $1.90 billion, a price-to-earnings ratio of 11.15 and a beta of 1.04. Steven Madden, Ltd. has a fifty-two week low of $19.05 and a fifty-two week high of $50.01. The stock has a 50 day moving average of $23.37 and a two-hundred day moving average of $33.84.
Steven Madden (NASDAQ:SHOO - Get Free Report) last issued its earnings results on Wednesday, May 7th. The textile maker reported $0.60 earnings per share (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 business had revenue of $551.38 million during the quarter, compared to analysts' expectations of $557.81 million. During the same quarter in the prior year, the business posted $0.65 EPS. The company's revenue for the quarter was up .2% on a year-over-year basis. As a group, analysts anticipate that Steven Madden, Ltd. will post 2.66 earnings per share for the current fiscal year.
Steven Madden Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Monday, June 9th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.21%. The ex-dividend date is Monday, June 9th. Steven Madden's payout ratio is currently 36.21%.
Steven Madden Company Profile
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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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