Ceredex Value Advisors LLC Has $11.51 Million Stake in Steven Madden, Ltd. (NASDAQ:SHOO)

Ceredex Value Advisors LLC reduced its stake in shares of Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 41.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 274,000 shares of the textile maker's stock after selling 190,350 shares during the quarter. Ceredex Value Advisors LLC owned 0.37% of Steven Madden worth $11,508,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Belpointe Asset Management LLC lifted its stake in shares of Steven Madden by 83.9% during the first quarter. Belpointe Asset Management LLC now owns 997 shares of the textile maker's stock valued at $36,000 after buying an additional 455 shares during the period. Industrial Alliance Investment Management Inc. lifted its stake in shares of Steven Madden by 312.3% during the fourth quarter. Industrial Alliance Investment Management Inc. now owns 1,542 shares of the textile maker's stock valued at $49,000 after buying an additional 1,168 shares during the period. Itau Unibanco Holding S.A. purchased a new position in shares of Steven Madden during the second quarter valued at approximately $55,000. Dark Forest Capital Management LP purchased a new position in shares of Steven Madden during the first quarter valued at approximately $56,000. Finally, International Assets Investment Management LLC lifted its stake in shares of Steven Madden by 4,100.0% during the fourth quarter. International Assets Investment Management LLC now owns 1,638 shares of the textile maker's stock valued at $69,000 after buying an additional 1,599 shares during the period. 99.88% of the stock is currently owned by institutional investors and hedge funds.

Steven Madden Price Performance

SHOO traded down $0.20 during trading hours on Monday, reaching $40.76. 625,273 shares of the stock traded hands, compared to its average volume of 828,776. The firm's fifty day simple moving average is $42.19 and its two-hundred day simple moving average is $39.05. The company has a market cap of $2.99 billion, a price-to-earnings ratio of 17.72 and a beta of 1.16. Steven Madden, Ltd. has a fifty-two week low of $29.92 and a fifty-two week high of $45.63.

Steven Madden (NASDAQ:SHOO - Get Free Report) last released its quarterly earnings results on Wednesday, February 28th. The textile maker reported $0.61 earnings per share for the quarter, beating analysts' consensus estimates of $0.56 by $0.05. The business had revenue of $519.71 million during the quarter, compared to analyst estimates of $511.96 million. Steven Madden had a net margin of 8.67% and a return on equity of 21.61%. The business's revenue was up 10.4% on a year-over-year basis. During the same period last year, the business earned $0.44 EPS. On average, research analysts predict that Steven Madden, Ltd. will post 2.61 earnings per share for the current year.

Steven Madden Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 2.06%. The ex-dividend date was Thursday, March 7th. Steven Madden's dividend payout ratio is currently 36.52%.

Insiders Place Their Bets

In other Steven Madden news, CEO Edward R. Rosenfeld sold 48,500 shares of the firm's stock in a transaction on Friday, March 15th. The shares were sold at an average price of $41.49, for a total transaction of $2,012,265.00. Following the completion of the transaction, the chief executive officer now directly owns 697,038 shares of the company's stock, valued at approximately $28,920,106.62. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Steven Madden news, CEO Edward R. Rosenfeld sold 48,500 shares of the firm's stock in a transaction on Friday, March 15th. The shares were sold at an average price of $41.49, for a total transaction of $2,012,265.00. Following the completion of the transaction, the chief executive officer now directly owns 697,038 shares of the company's stock, valued at approximately $28,920,106.62. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Zine Mazouzi sold 7,246 shares of the firm's stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $41.66, for a total transaction of $301,868.36. Following the transaction, the chief financial officer now directly owns 68,785 shares of the company's stock, valued at $2,865,583.10. The disclosure for this sale can be found here. Insiders sold a total of 59,346 shares of company stock valued at $2,464,841 in the last ninety days. Corporate insiders own 2.01% of the company's stock.

Analyst Ratings Changes

SHOO has been the topic of several recent analyst reports. Williams Trading reissued a "hold" rating and set a $44.00 price objective on shares of Steven Madden in a research note on Wednesday, February 21st. Citigroup increased their price objective on shares of Steven Madden from $41.00 to $43.00 and gave the stock a "neutral" rating in a research report on Thursday, February 29th. Wedbush increased their price objective on shares of Steven Madden from $36.00 to $38.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 7th. Jefferies Financial Group reissued a "hold" rating and issued a $40.00 price objective on shares of Steven Madden in a research report on Thursday, January 4th. Finally, Piper Sandler assumed coverage on shares of Steven Madden in a research report on Wednesday, February 14th. They issued a "neutral" rating and a $45.00 price objective for the company. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $41.38.

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.