Lazard Asset Management LLC Purchases 25,616 Shares of Steven Madden, Ltd. (NASDAQ:SHOO)

Lazard Asset Management LLC grew its position in shares of Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 70.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,191 shares of the textile maker's stock after purchasing an additional 25,616 shares during the period. Lazard Asset Management LLC owned approximately 0.09% of Steven Madden worth $2,644,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Gotham Asset Management LLC purchased a new position in shares of Steven Madden during the 4th quarter valued at $370,000. Graham Capital Management L.P. purchased a new position in shares of Steven Madden during the 4th quarter valued at $1,043,000. Deutsche Bank AG grew its position in shares of Steven Madden by 49.0% during the 4th quarter. Deutsche Bank AG now owns 64,998 shares of the textile maker's stock valued at $2,764,000 after purchasing an additional 21,363 shares in the last quarter. Brevan Howard Capital Management LP purchased a new position in shares of Steven Madden during the 4th quarter valued at $442,000. Finally, Algert Global LLC purchased a new position in shares of Steven Madden during the 4th quarter valued at $478,000. 99.88% of the stock is currently owned by hedge funds and other institutional investors.

Steven Madden Price Performance

Steven Madden stock traded up $0.02 during mid-day trading on Thursday, hitting $24.71. The company's stock had a trading volume of 227,220 shares, compared to its average volume of 1,031,642. The stock has a market cap of $1.79 billion, a price-to-earnings ratio of 10.50 and a beta of 1.04. The business has a 50 day moving average price of $23.41 and a 200-day moving average price of $34.47. Steven Madden, Ltd. has a 12 month low of $19.05 and a 12 month 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 the consensus estimate of $0.46 by $0.14. The business had revenue of $551.38 million during the quarter, compared to the consensus estimate of $557.81 million. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. The firm's revenue for the quarter was up .2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.65 earnings per share. On average, equities research analysts expect that Steven Madden, Ltd. will post 2.66 earnings per share for the current fiscal year.

Steven Madden Dividend Announcement

The firm also recently declared 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 3.40%. The ex-dividend date is Monday, June 9th. Steven Madden's dividend payout ratio is presently 36.21%.

Analysts Set New Price Targets

SHOO has been the subject of a number of recent analyst reports. Telsey Advisory Group restated a "market perform" rating and set a $24.00 price target on shares of Steven Madden in a research report 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 report on Friday, April 11th. Needham & Company LLC reiterated a "hold" rating on shares of Steven Madden in a research report on Friday, May 2nd. Jefferies Financial Group reiterated a "hold" rating on shares of Steven Madden in a research report on Monday, February 3rd. Finally, Loop Capital cut their target price on shares of Steven Madden from $40.00 to $35.00 and set a "hold" rating for the company in a research report on Thursday, February 27th. Nine equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Steven Madden currently has a consensus rating of "Hold" and a consensus price target of $32.00.

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.