abrdn plc Purchases Shares of 484,550 Steven Madden, Ltd. (NASDAQ:SHOO)

abrdn plc purchased a new stake in shares of Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 484,550 shares of the textile maker's stock, valued at approximately $20,351,000. abrdn plc owned 0.65% of Steven Madden as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. International Assets Investment Management LLC boosted its holdings in 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 worth $69,000 after buying an additional 1,599 shares in the last quarter. Counterpoint Mutual Funds LLC acquired a new stake in shares of Steven Madden during the 3rd quarter valued at $105,000. Covestor Ltd boosted its stake in shares of Steven Madden by 32.9% during the 3rd quarter. Covestor Ltd now owns 5,320 shares of the textile maker's stock worth $169,000 after acquiring an additional 1,316 shares in the last quarter. Mackenzie Financial Corp acquired a new position in shares of Steven Madden in the 4th quarter worth $207,000. Finally, Vest Financial LLC acquired a new stake in shares of Steven Madden during the fourth quarter worth $238,000. Institutional investors own 99.88% of the company's stock.

Steven Madden Stock Up 0.0 %

Shares of NASDAQ:SHOO traded up $0.02 on Wednesday, reaching $40.46. The company had a trading volume of 426,407 shares, compared to its average volume of 790,598. The stock has a market capitalization of $2.97 billion, a P/E ratio of 17.59 and a beta of 1.16. The stock has a 50-day moving average price of $41.61 and a 200 day moving average price of $39.67. Steven Madden, Ltd. has a twelve month low of $29.92 and a twelve month 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 EPS for the quarter, beating analysts' consensus estimates of $0.56 by $0.05. Steven Madden had a net margin of 8.67% and a return on equity of 21.61%. The company had revenue of $519.71 million for the quarter, compared to analyst estimates of $511.96 million. During the same quarter last year, the firm posted $0.44 earnings per share. The company's quarterly revenue was up 10.4% compared to the same quarter last year. On average, sell-side analysts predict that Steven Madden, Ltd. will post 2.61 earnings per share for the current fiscal year.

Steven Madden Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.08%. The ex-dividend date of this dividend was Thursday, March 7th. Steven Madden's dividend payout ratio is currently 36.52%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on SHOO shares. StockNews.com upgraded shares of Steven Madden from a "hold" rating to a "buy" rating in a report on Thursday, February 29th. Piper Sandler began coverage on shares of Steven Madden in a research note on Wednesday, February 14th. They set a "neutral" rating and a $45.00 target price on the stock. Citigroup raised their target price on Steven Madden from $41.00 to $43.00 and gave the stock a "neutral" rating in a research report on Thursday, February 29th. Telsey Advisory Group upped their price target on Steven Madden from $39.00 to $44.00 and gave the company a "market perform" rating in a research report on Thursday, February 29th. Finally, Williams Trading restated a "hold" rating and set a $44.00 price objective on shares of Steven Madden in a research report on Wednesday, February 21st. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $41.38.

Insider Transactions at Steven Madden

In related news, Director Peter Allan Davis sold 1,200 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $42.13, for a total value of $50,556.00. Following the completion of the sale, the director now owns 5,751 shares in the company, valued at $242,289.63. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Steven Madden news, CEO Edward R. Rosenfeld sold 48,500 shares of the firm's stock in a transaction dated 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 owns 697,038 shares in the company, valued at $28,920,106.62. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Peter Allan Davis sold 1,200 shares of the company's stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $42.13, for a total value of $50,556.00. Following the completion of the sale, the director now owns 5,751 shares in the company, valued at $242,289.63. The disclosure for this sale can be found here. Insiders sold a total of 59,346 shares of company stock worth $2,464,841 over the last three months. 2.01% of the stock is currently owned by insiders.

Steven Madden 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.