Northern Trust Corp Raises Stock Position in Steven Madden, Ltd. (NASDAQ:SHOO)

Northern Trust Corp lifted its position in Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 9.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 810,263 shares of the textile maker's stock after acquiring an additional 71,816 shares during the quarter. Northern Trust Corp owned 1.12% of Steven Madden worth $34,452,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Pacer Advisors Inc. bought a new stake in Steven Madden during the 4th quarter valued at about $72,795,000. First Trust Advisors LP raised its holdings in shares of Steven Madden by 36.9% in the 4th quarter. First Trust Advisors LP now owns 2,002,228 shares of the textile maker's stock valued at $85,135,000 after purchasing an additional 539,738 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Steven Madden in the 4th quarter worth approximately $13,652,000. Norges Bank purchased a new stake in shares of Steven Madden in the 4th quarter worth approximately $9,399,000. Finally, Trexquant Investment LP lifted its position in shares of Steven Madden by 147.3% in the 4th quarter. Trexquant Investment LP now owns 257,334 shares of the textile maker's stock worth $10,942,000 after purchasing an additional 153,280 shares during the period. Institutional investors own 99.88% of the company's stock.

Steven Madden Stock Down 2.5%

NASDAQ SHOO traded down $0.66 on Friday, hitting $25.88. 341,293 shares of the stock were exchanged, compared to its average volume of 1,588,173. The company has a market cap of $1.88 billion, a PE ratio of 10.99 and a beta of 1.04. Steven Madden, Ltd. has a fifty-two week low of $19.05 and a fifty-two week high of $50.01. The company has a 50-day moving average price of $23.42 and a 200-day moving average price of $35.00.

Steven Madden (NASDAQ:SHOO - Get Free Report) last issued its earnings results on Wednesday, May 7th. The textile maker reported $0.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.46 by $0.14. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. The company had revenue of $551.38 million during the quarter, compared to analysts' expectations of $557.81 million. During the same period last year, the company posted $0.65 earnings per share. The firm's quarterly revenue was up .2% compared to the same quarter last year. As a group, equities research analysts predict that Steven Madden, Ltd. will post 2.66 EPS for the current fiscal year.

Steven Madden Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Monday, June 9th will be given a dividend of $0.21 per share. The ex-dividend date is Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a yield of 3.25%. Steven Madden's dividend payout ratio (DPR) is currently 36.21%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on SHOO shares. Jefferies Financial Group reaffirmed a "hold" rating on shares of Steven Madden in a research report on Monday, February 3rd. Telsey Advisory Group reiterated a "market perform" rating and set a $24.00 price objective on shares of Steven Madden in a research note on Thursday, May 8th. Citigroup reduced their price objective on shares of Steven Madden from $35.00 to $23.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. Piper Sandler cut their price target on shares of Steven Madden from $35.00 to $25.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Finally, Needham & Company LLC restated a "hold" rating on shares of Steven Madden in a research note on Friday, May 2nd. Nine investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Steven Madden currently has a consensus rating of "Hold" and a consensus target price of $32.00.

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.