UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 12.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 191,667 shares of the textile maker's stock after acquiring an additional 21,270 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.27% of Steven Madden worth $8,150,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. First Trust Advisors LP boosted its stake in shares of Steven Madden by 36.9% during 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 fourth quarter valued at about $13,652,000. Norges Bank acquired a new position in Steven Madden in the fourth quarter valued at about $9,399,000. Trexquant Investment LP lifted its position in shares of Steven Madden by 147.3% during the fourth quarter. Trexquant Investment LP now owns 257,334 shares of the textile maker's stock worth $10,942,000 after purchasing an additional 153,280 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of Steven Madden by 8.6% during the fourth 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 in the last quarter. Institutional investors and hedge funds own 99.88% of the company's stock.
Wall Street Analysts Forecast Growth
SHOO has been the subject of several recent analyst reports. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $24.00 target price on shares of Steven Madden in a research note on Wednesday. Piper Sandler reduced their target price on shares of Steven Madden from $35.00 to $25.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Loop Capital reduced their target price on shares of Steven Madden from $40.00 to $35.00 and set a "hold" rating for the company in a report on Thursday, February 27th. UBS Group increased their target price on shares of Steven Madden from $22.00 to $23.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Finally, Citigroup reduced their target price on shares of Steven Madden from $35.00 to $23.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Nine equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $32.00.
Read Our Latest Stock Analysis on SHOO
Steven Madden Stock Down 0.5%
Shares of NASDAQ SHOO traded down $0.13 during mid-day trading on Wednesday, reaching $24.67. 922,156 shares of the company were exchanged, compared to its average volume of 1,057,170. The company's 50-day simple moving average is $23.14 and its 200-day simple moving average is $33.12. The stock has a market capitalization of $1.79 billion, a P/E ratio of 10.50 and a beta of 1.04. Steven Madden, Ltd. has a twelve month low of $19.05 and a twelve month high of $50.01.
Steven Madden (NASDAQ:SHOO - Get Free Report) last posted its earnings results 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 during 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%. Steven Madden's quarterly revenue was up .2% compared to the same quarter last year. During the same quarter last year, the company posted $0.65 EPS. As a group, equities research analysts expect that Steven Madden, Ltd. will post 2.66 EPS for the current year.
Steven Madden Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Monday, June 9th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.40%. The ex-dividend date is Monday, June 9th. Steven Madden's dividend 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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