Lazard Asset Management LLC lifted its position in shares of Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 70.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 62,191 shares of the textile maker's stock after acquiring an additional 25,616 shares during the quarter. Lazard Asset Management LLC owned 0.09% of Steven Madden worth $2,644,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in SHOO. Pacer Advisors Inc. acquired a new position in Steven Madden during the fourth quarter worth about $72,795,000. First Trust Advisors LP grew its position in Steven Madden by 36.9% during the fourth quarter. First Trust Advisors LP now owns 2,002,228 shares of the textile maker's stock worth $85,135,000 after buying an additional 539,738 shares during the period. Raymond James Financial Inc. acquired a new position in Steven Madden during the fourth quarter worth about $13,652,000. Norges Bank acquired a new position in Steven Madden during the fourth quarter worth about $9,399,000. Finally, Trexquant Investment LP grew its position in 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 buying an additional 153,280 shares during the period. 99.88% of the stock is currently owned by institutional investors and hedge funds.
Steven Madden Price Performance
SHOO traded up $0.72 during trading on Tuesday, hitting $26.49. The company's stock had a trading volume of 1,168,942 shares, compared to its average volume of 1,028,420. The firm's 50 day moving average price is $23.41 and its 200-day moving average price is $34.59. The stock has a market cap of $1.92 billion, a PE ratio of 11.27 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 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 company had revenue of $551.38 million for 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%. Steven Madden's revenue was up .2% on a year-over-year basis. During the same quarter last year, the firm posted $0.65 earnings per share. Equities analysts anticipate that Steven Madden, Ltd. will post 2.66 earnings per share for the current year.
Steven Madden Announces Dividend
The business 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 dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date of this dividend is Monday, June 9th. Steven Madden's dividend payout ratio is currently 36.21%.
Analyst Ratings Changes
SHOO has been the topic of several recent analyst reports. Citigroup lowered their target price on shares of Steven Madden from $35.00 to $23.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $24.00 price target on shares of Steven Madden in a report on Thursday, May 8th. Needham & Company LLC reaffirmed a "hold" rating on shares of Steven Madden in a report on Friday, May 2nd. Jefferies Financial Group reaffirmed a "hold" rating on shares of Steven Madden in a report on Monday, February 3rd. Finally, Piper Sandler reduced their price target on shares of Steven Madden from $35.00 to $25.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Nine equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $32.00.
Get Our Latest Stock Report on Steven Madden
Steven Madden Company Profile
(
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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