Steven Madden, Ltd. (NASDAQ:SHOO) Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. raised its stake in shares of Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 46.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,212,373 shares of the textile maker's stock after purchasing an additional 384,979 shares during the quarter. Victory Capital Management Inc. owned about 1.67% of Steven Madden worth $32,298,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. CX Institutional acquired a new stake in Steven Madden in the first quarter valued at approximately $32,000. Quarry LP increased its holdings in 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 purchasing an additional 1,110 shares during the last quarter. CWM LLC boosted its holdings in Steven Madden by 231.0% during the 1st quarter. CWM LLC now owns 2,277 shares of the textile maker's stock valued at $61,000 after acquiring an additional 1,589 shares during the period. New Age Alpha Advisors LLC acquired a new position in Steven Madden in the 4th quarter valued at about $177,000. Finally, Mariner LLC boosted its stake in shares of Steven Madden by 7.2% in the 4th quarter. Mariner LLC now owns 4,740 shares of the textile maker's stock valued at $202,000 after buying an additional 319 shares during the period. Institutional investors and hedge funds own 99.88% of the company's stock.

Analyst Upgrades and Downgrades

SHOO has been the topic of a number of analyst reports. Piper Sandler cut their price target on Steven Madden from $35.00 to $25.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Telsey Advisory Group reaffirmed a "market perform" rating and set a $24.00 price objective on shares of Steven Madden in a report on Wednesday. Citigroup upgraded Steven Madden from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $26.00 to $32.00 in a research report on Thursday, July 17th. UBS Group upped their target price on Steven Madden from $22.00 to $23.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Steven Madden in a report on Friday, May 2nd. Eight analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $30.00.

Steven Madden Price Performance

NASDAQ SHOO traded down $0.82 on Thursday, hitting $26.18. 1,116,230 shares of the company's stock were exchanged, compared to its average volume of 1,410,369. The firm has a market cap of $1.90 billion, a price-to-earnings ratio of 11.28 and a beta of 1.10. The firm's 50-day moving average price is $25.02 and its two-hundred day moving average price is $28.63. Steven Madden, Ltd. has a fifty-two week low of $19.05 and a fifty-two week high of $50.01.

Steven Madden (NASDAQ:SHOO - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The textile maker reported $0.60 earnings per share for the quarter, topping analysts' consensus estimates of $0.46 by $0.14. The business had revenue of $551.38 million for the quarter, compared to analysts' expectations of $557.81 million. Steven Madden had a net margin of 7.26% and a return on equity of 21.63%. The business's revenue for the quarter was up .2% on a year-over-year basis. During the same period in the prior year, the company posted $0.65 EPS. On average, research analysts predict that Steven Madden, Ltd. will post 2.66 earnings per share for the current fiscal year.

Steven Madden Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Monday, June 9th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date of this dividend was Monday, June 9th. Steven Madden's dividend payout ratio is currently 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.