First Trust Advisors LP Buys 539,738 Shares of Steven Madden, Ltd. (NASDAQ:SHOO)

First Trust Advisors LP grew its position in shares of Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 36.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,002,228 shares of the textile maker's stock after purchasing an additional 539,738 shares during the period. First Trust Advisors LP owned about 2.77% of Steven Madden worth $85,135,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in SHOO. Vanguard Group Inc. lifted its stake in shares of Steven Madden by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 8,097,339 shares of the textile maker's stock valued at $344,299,000 after acquiring an additional 54,877 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Steven Madden by 8.6% in the 4th quarter. Invesco Ltd. now owns 1,745,456 shares of the textile maker's stock valued at $74,217,000 after acquiring an additional 138,065 shares during the last quarter. Pacer Advisors Inc. bought a new stake in shares of Steven Madden in the 4th quarter valued at about $72,795,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Steven Madden by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,122,680 shares of the textile maker's stock valued at $47,736,000 after acquiring an additional 25,903 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Steven Madden by 2.1% in the 4th quarter. Bank of New York Mellon Corp now owns 837,865 shares of the textile maker's stock valued at $35,626,000 after acquiring an additional 17,173 shares during the last quarter. Institutional investors own 99.88% of the company's stock.

Steven Madden Trading Down 1.7 %

Shares of SHOO stock traded down $0.36 during midday trading on Friday, reaching $20.80. 793,098 shares of the stock were exchanged, compared to its average volume of 933,133. Steven Madden, Ltd. has a 1 year low of $19.05 and a 1 year high of $50.01. The company's 50 day moving average is $26.36 and its two-hundred day moving average is $37.18. The firm has a market cap of $1.51 billion, a PE ratio of 8.85 and a beta of 0.98.

Steven Madden (NASDAQ:SHOO - Get Free Report) last posted its earnings results on Wednesday, February 26th. The textile maker reported $0.55 earnings per share for the quarter, topping analysts' consensus estimates of $0.53 by $0.02. The firm had revenue of $582.32 million for the quarter, compared to the consensus estimate of $550.37 million. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. As a group, equities analysts expect that Steven Madden, Ltd. will post 2.66 EPS for the current fiscal year.

Steven Madden Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 4.04%. The ex-dividend date was Monday, March 10th. Steven Madden's dividend payout ratio is presently 35.74%.

Analyst Ratings Changes

A number of research firms have recently weighed in on SHOO. StockNews.com lowered Steven Madden from a "buy" rating to a "hold" rating in a research note on Tuesday, January 14th. Loop Capital reduced their price target on Steven Madden from $40.00 to $35.00 and set a "hold" rating on the stock in a report on Thursday, February 27th. Telsey Advisory Group reduced their price target on Steven Madden from $44.00 to $38.00 and set a "market perform" rating on the stock in a report on Thursday, February 27th. Needham & Company LLC restated a "hold" rating on shares of Steven Madden in a report on Thursday, February 27th. Finally, Piper Sandler reduced their price target on Steven Madden from $35.00 to $25.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Nine analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Steven Madden presently has an average rating of "Hold" and a consensus price target of $35.57.

Steven Madden Company Profile

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.