Fort Washington Investment Advisors Inc. OH Grows Position in Steven Madden, Ltd. (NASDAQ:SHOO)

Fort Washington Investment Advisors Inc. OH boosted its position in Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 6.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 491,626 shares of the textile maker's stock after purchasing an additional 28,840 shares during the quarter. Fort Washington Investment Advisors Inc. OH owned about 0.68% of Steven Madden worth $13,097,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in SHOO. CX Institutional bought a new stake in shares of Steven Madden during the 1st quarter worth $32,000. SG Americas Securities LLC boosted its stake in shares of Steven Madden by 86.9% in the 1st quarter. SG Americas Securities LLC now owns 17,034 shares of the textile maker's stock valued at $454,000 after purchasing an additional 7,922 shares in the last quarter. Harbor Capital Advisors Inc. grew its holdings in shares of Steven Madden by 62.3% during the 1st quarter. Harbor Capital Advisors Inc. now owns 201,696 shares of the textile maker's stock valued at $5,373,000 after purchasing an additional 77,425 shares during the last quarter. Vest Financial LLC grew its holdings in shares of Steven Madden by 41.8% during the 1st quarter. Vest Financial LLC now owns 80,010 shares of the textile maker's stock valued at $2,131,000 after purchasing an additional 23,587 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Steven Madden by 3,814.9% during the 1st quarter. GAMMA Investing LLC now owns 36,683 shares of the textile maker's stock valued at $977,000 after acquiring an additional 35,746 shares during the period. 99.88% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on SHOO shares. Piper Sandler decreased their price objective on shares of Steven Madden from $35.00 to $25.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Citigroup reduced their target price on Steven Madden from $35.00 to $23.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Telsey Advisory Group reissued a "market perform" rating and set a $24.00 price target on shares of Steven Madden in a research report on Wednesday, June 4th. Needham & Company LLC reiterated a "hold" rating on shares of Steven Madden in a research note on Friday, May 2nd. Finally, Loop Capital reduced their price objective on Steven Madden from $40.00 to $35.00 and set a "hold" rating for the company in a report on Thursday, February 27th. Nine research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $28.50.

Steven Madden Stock Down 4.6%

NASDAQ:SHOO traded down $1.12 during mid-day trading on Friday, hitting $23.02. 1,394,982 shares of the company traded hands, compared to its average volume of 1,084,520. The stock's fifty day moving average price is $23.10 and its 200-day moving average price is $32.37. The firm has a market cap of $1.67 billion, a price-to-earnings ratio of 9.80 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.

Steven Madden (NASDAQ:SHOO - Get Free Report) last released its earnings results 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 company had revenue of $551.38 million for the quarter, compared to analysts' expectations of $557.81 million. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. The firm's revenue was up .2% compared to the same quarter last year. During the same quarter last year, the business earned $0.65 EPS. 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 Friday, June 20th. Shareholders of record on Monday, June 9th will be paid a $0.21 dividend. The ex-dividend date is Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a yield of 3.65%. Steven Madden's payout ratio is presently 36.21%.

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.