Great Lakes Advisors LLC trimmed its position in shares of Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 26.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 124,847 shares of the textile maker's stock after selling 44,518 shares during the quarter. Great Lakes Advisors LLC owned approximately 0.17% of Steven Madden worth $5,244,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of SHOO. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Steven Madden by 1.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 34,365 shares of the textile maker's stock worth $1,092,000 after acquiring an additional 482 shares during the last quarter. Teacher Retirement System of Texas increased its stake in Steven Madden by 18.2% during the third quarter. Teacher Retirement System of Texas now owns 27,784 shares of the textile maker's stock valued at $883,000 after purchasing an additional 4,279 shares during the last quarter. Victory Capital Management Inc. grew its stake in Steven Madden by 52.9% during the 3rd quarter. Victory Capital Management Inc. now owns 1,319,809 shares of the textile maker's stock worth $41,930,000 after buying an additional 456,412 shares during the last quarter. Los Angeles Capital Management LLC increased its stake in shares of Steven Madden by 2.3% in the third quarter. Los Angeles Capital Management LLC now owns 13,979 shares of the textile maker's stock valued at $444,000 after purchasing an additional 315 shares during the period. Finally, Assenagon Asset Management S.A. bought a new stake in Steven Madden during the third quarter worth approximately $1,118,000. 99.88% of the stock is owned by hedge funds and other institutional investors.
Steven Madden Price Performance
SHOO stock traded down $0.11 during midday trading on Friday, reaching $41.66. 400,452 shares of the company were exchanged, compared to its average volume of 636,924. Steven Madden, Ltd. has a one year low of $29.92 and a one year high of $45.63. The firm has a market capitalization of $3.06 billion, a price-to-earnings ratio of 17.21 and a beta of 1.15. The business has a 50-day moving average price of $40.79 and a two-hundred day moving average price of $40.72.
Steven Madden (NASDAQ:SHOO - Get Free Report) last posted its quarterly earnings data on Wednesday, May 1st. The textile maker reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.09. Steven Madden had a return on equity of 22.68% and a net margin of 8.65%. The firm had revenue of $552.38 million for the quarter, compared to analysts' expectations of $525.04 million. During the same quarter last year, the business earned $0.50 EPS. The company's quarterly revenue was up 19.1% compared to the same quarter last year. As a group, analysts anticipate that Steven Madden, Ltd. will post 2.62 earnings per share for the current fiscal year.
Steven Madden Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Monday, June 10th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date of this dividend is Monday, June 10th. Steven Madden's payout ratio is currently 34.71%.
Insider Activity at Steven Madden
In related news, CEO Edward R. Rosenfeld sold 48,500 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now owns 697,038 shares in the company, valued at approximately $28,920,106.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Edward R. Rosenfeld sold 48,500 shares of the company's 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 approximately $28,920,106.62. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Peter Allan Davis sold 1,200 shares of Steven Madden stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $42.13, for a total transaction of $50,556.00. Following the sale, the director now directly 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 valued at $2,464,841 over the last quarter. 2.08% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
A number of research firms have recently issued reports on SHOO. Piper Sandler assumed coverage on Steven Madden in a report on Wednesday, February 14th. They issued a "neutral" rating and a $45.00 target price for the company. Wedbush reaffirmed a "neutral" rating and issued a $41.00 price target on shares of Steven Madden in a report on Friday. StockNews.com raised shares of Steven Madden from a "hold" rating to a "buy" rating in a report on Thursday, February 29th. Telsey Advisory Group reiterated a "market perform" rating and set a $44.00 price objective on shares of Steven Madden in a research note on Friday, April 26th. Finally, Williams Trading restated a "hold" rating and set a $44.00 price target on shares of Steven Madden in a research report on Wednesday, February 21st. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Steven Madden presently has an average rating of "Hold" and an average price target of $41.75.
Check Out Our Latest Research Report on Steven Madden
Steven Madden 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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