Victory Capital Management Inc. Buys 136,171 Shares of Steven Madden, Ltd. (NASDAQ:SHOO)

Victory Capital Management Inc. grew its position in Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 10.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,455,980 shares of the textile maker's stock after purchasing an additional 136,171 shares during the quarter. Victory Capital Management Inc. owned about 1.95% of Steven Madden worth $61,151,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SHOO. abrdn plc purchased a new position in Steven Madden in the 4th quarter worth $20,351,000. Lazard Asset Management LLC lifted its holdings in shares of Steven Madden by 348.9% during the third quarter. Lazard Asset Management LLC now owns 447,018 shares of the textile maker's stock worth $14,201,000 after purchasing an additional 347,431 shares during the period. Pacer Advisors Inc. boosted its position in Steven Madden by 30.7% in the fourth quarter. Pacer Advisors Inc. now owns 1,469,956 shares of the textile maker's stock valued at $61,738,000 after buying an additional 345,558 shares during the last quarter. Wellington Management Group LLP boosted its position in Steven Madden by 5.3% in the third quarter. Wellington Management Group LLP now owns 6,264,768 shares of the textile maker's stock valued at $199,032,000 after buying an additional 316,676 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in Steven Madden by 67.8% in the 3rd quarter. American Century Companies Inc. now owns 678,183 shares of the textile maker's stock worth $21,546,000 after buying an additional 274,123 shares during the period. 99.88% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Edward R. Rosenfeld sold 48,500 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $41.49, for a total transaction of $2,012,265.00. Following the completion of the sale, the chief executive officer now directly owns 697,038 shares in the company, valued at $28,920,106.62. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 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 transaction, the director now owns 5,751 shares of the company's stock, valued at $242,289.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Edward R. Rosenfeld sold 48,500 shares of the business'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 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 ninety days. 2.08% of the stock is currently owned by company insiders.

Steven Madden Stock Down 1.3 %

Shares of SHOO stock traded down $0.52 during trading hours on Friday, hitting $39.59. 671,859 shares of the company were exchanged, compared to its average volume of 682,306. The firm has a market cap of $2.90 billion, a PE ratio of 16.36 and a beta of 1.15. The firm has a fifty day moving average of $41.05 and a 200 day moving average of $40.10. Steven Madden, Ltd. has a 1 year low of $29.92 and a 1 year high of $45.63.

Steven Madden (NASDAQ:SHOO - Get Free Report) last announced its earnings results on Wednesday, May 1st. The textile maker reported $0.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.56 by $0.09. Steven Madden had a return on equity of 22.68% and a net margin of 8.65%. The business had revenue of $552.38 million for the quarter, compared to analyst estimates of $525.04 million. During the same period in the previous year, the company earned $0.50 earnings per share. The company's revenue for the quarter was up 19.1% compared to the same quarter last year. Analysts expect that Steven Madden, Ltd. will post 2.62 earnings per share for the current year.

Steven Madden Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Monday, June 10th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend is Friday, June 7th. Steven Madden's dividend payout ratio is 34.71%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. StockNews.com raised shares of Steven Madden from a "hold" rating to a "buy" rating in a report on Thursday, February 29th. Wedbush increased their price target on Steven Madden from $36.00 to $38.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 7th. Telsey Advisory Group reaffirmed a "market perform" rating and set a $44.00 price objective on shares of Steven Madden in a report on Friday, April 26th. Citigroup lifted their price target on Steven Madden from $41.00 to $43.00 and gave the stock a "neutral" rating in a research note on Thursday, February 29th. Finally, Williams Trading reaffirmed a "hold" rating and set a $44.00 price objective on shares of Steven Madden in a research note on Wednesday, February 21st. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Steven Madden currently has a consensus rating of "Hold" and an average target price of $41.38.

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.