Man Group plc grew its position in Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 714.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 104,914 shares of the textile maker's stock after acquiring an additional 92,028 shares during the period. Man Group plc owned about 0.15% of Steven Madden worth $4,461,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of 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 grew its position in shares of Steven Madden by 403.6% in the 4th quarter. Quarry LP now owns 1,385 shares of the textile maker's stock valued at $59,000 after acquiring an additional 1,110 shares during the period. Blue Trust Inc. grew its position in shares of Steven Madden by 20.9% in the 4th 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 period. KBC Group NV lifted its stake in shares of Steven Madden by 36.5% during the 4th quarter. KBC Group NV now owns 3,013 shares of the textile maker's stock worth $128,000 after buying an additional 805 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in shares of 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 buying an additional 741 shares during the last quarter. Institutional investors own 99.88% of the company's stock.
Steven Madden Price Performance
Steven Madden stock traded up $1.65 during midday trading on Tuesday, hitting $26.20. The company's stock had a trading volume of 1,193,441 shares, compared to its average volume of 1,042,183. Steven Madden, Ltd. has a 1-year low of $19.05 and a 1-year high of $50.01. The company has a 50-day moving average price of $23.37 and a two-hundred day moving average price of $33.84. The company has a market cap of $1.90 billion, a price-to-earnings ratio of 11.15 and a beta of 1.04.
Steven Madden (NASDAQ:SHOO - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The textile maker reported $0.60 earnings per share for the quarter, topping 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 previous year, the company earned $0.65 EPS. The business's revenue was up .2% on a year-over-year basis. Sell-side analysts forecast that Steven Madden, Ltd. will post 2.66 EPS for the current year.
Steven Madden Announces Dividend
The firm also recently disclosed 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. This represents a $0.84 annualized dividend and a yield of 3.21%. The ex-dividend date of this dividend is Monday, June 9th. Steven Madden's dividend payout ratio (DPR) is 36.21%.
Analysts Set New Price Targets
A number of analysts have recently issued reports on SHOO shares. Jefferies Financial Group restated a "hold" rating on shares of Steven Madden in a research note on Monday, February 3rd. Needham & Company LLC restated a "hold" rating on shares of Steven Madden in a research note on Friday, May 2nd. UBS Group raised their target price on shares of Steven Madden from $22.00 to $23.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Piper Sandler cut their target price 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. Finally, Citigroup cut their target price on shares of Steven Madden from $35.00 to $23.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. Nine investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Steven Madden has an average rating of "Hold" and a consensus target price of $32.00.
Read Our Latest Research Report on Steven Madden
About Steven Madden
(
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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