Two Sigma Investments LP lowered its holdings in shares of Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 37.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 180,739 shares of the textile maker's stock after selling 108,281 shares during the period. Two Sigma Investments LP owned approximately 0.25% of Steven Madden worth $7,685,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the business. Pacer Advisors Inc. bought a new stake in Steven Madden in the fourth quarter valued at $72,795,000. First Trust Advisors LP grew 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 buying an additional 539,738 shares during the period. Raymond James Financial Inc. bought a new stake in Steven Madden in the 4th quarter valued at about $13,652,000. Norges Bank acquired a new position in Steven Madden during the 4th quarter worth approximately $9,399,000. Finally, Trexquant Investment LP raised its stake in Steven Madden by 147.3% during the 4th quarter. Trexquant Investment LP now owns 257,334 shares of the textile maker's stock worth $10,942,000 after buying an additional 153,280 shares during the period. 99.88% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of research analysts have recently issued reports on SHOO shares. Telsey Advisory Group reiterated a "market perform" rating and set a $24.00 price objective on shares of Steven Madden in a report on Thursday, May 8th. Loop Capital decreased 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. Citigroup lowered their price objective on Steven Madden from $35.00 to $23.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. Needham & Company LLC restated a "hold" rating on shares of Steven Madden in a report on Friday, May 2nd. Finally, Jefferies Financial Group reaffirmed a "hold" rating on shares of Steven Madden in a research report on Monday, February 3rd. Nine investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $32.00.
Read Our Latest Stock Report on Steven Madden
Steven Madden Stock Down 1.2%
SHOO traded down $0.32 during trading on Friday, reaching $25.05. 259,238 shares of the company were exchanged, compared to its average volume of 1,044,044. The company's 50-day moving average is $23.34 and its two-hundred day moving average is $33.65. Steven Madden, Ltd. has a 12-month low of $19.05 and a 12-month high of $50.01. The company has a market cap of $1.82 billion, a price-to-earnings ratio of 10.70 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 (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 the consensus estimate of $557.81 million. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. The firm's revenue was up .2% compared to the same quarter last year. During the same quarter last year, the business posted $0.65 earnings per share. Equities analysts forecast that Steven Madden, Ltd. will post 2.66 earnings per share for the current year.
Steven Madden Announces Dividend
The business 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. The ex-dividend date is Monday, June 9th. This represents a $0.84 annualized dividend and a yield of 3.35%. Steven Madden's dividend payout ratio (DPR) is presently 36.21%.
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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