Price T Rowe Associates Inc. MD Trims Position in Steven Madden, Ltd. (NASDAQ:SHOO)

Price T Rowe Associates Inc. MD cut its holdings in shares of Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 60.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 52,764 shares of the textile maker's stock after selling 79,945 shares during the quarter. Price T Rowe Associates Inc. MD owned about 0.07% of Steven Madden worth $2,244,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Steven Madden by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 8,097,339 shares of the textile maker's stock valued at $344,299,000 after buying an additional 54,877 shares in the last quarter. First Trust Advisors LP boosted its holdings in Steven Madden by 36.9% during 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 acquiring an additional 539,738 shares during the period. Invesco Ltd. grew its position in Steven Madden by 8.6% in the 4th quarter. Invesco Ltd. now owns 1,745,456 shares of the textile maker's stock valued at $74,217,000 after acquiring an additional 138,065 shares in the last quarter. Pacer Advisors Inc. purchased a new stake in Steven Madden during the fourth quarter worth about $72,795,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Steven Madden by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,122,680 shares of the textile maker's stock worth $47,736,000 after purchasing an additional 25,903 shares in the last quarter. 99.88% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

SHOO has been the subject of several recent research reports. Loop Capital decreased their price target on shares of Steven Madden from $40.00 to $35.00 and set a "hold" rating for the company in a research report on Thursday, February 27th. Piper Sandler decreased their target price on Steven Madden from $35.00 to $25.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Telsey Advisory Group restated a "market perform" rating and set a $24.00 price target on shares of Steven Madden in a report on Thursday. Jefferies Financial Group reiterated a "hold" rating on shares of Steven Madden in a research note on Monday, February 3rd. Finally, UBS Group upped their target price on shares of Steven Madden from $22.00 to $23.00 and gave the stock a "neutral" rating in a research note on Thursday. Nine analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $32.00.

Steven Madden Stock Down 3.6 %

Steven Madden stock traded down $0.87 during mid-day trading on Friday, hitting $22.98. The company had a trading volume of 2,093,110 shares, compared to its average volume of 979,683. Steven Madden, Ltd. has a 1 year low of $19.05 and a 1 year high of $50.01. The business has a fifty day moving average of $23.61 and a 200 day moving average of $35.46. The stock has a market cap of $1.67 billion, a price-to-earnings ratio of 9.78 and a beta of 1.04.

Steven Madden (NASDAQ:SHOO - Get Free Report) last posted its earnings results on Wednesday, May 7th. The textile maker reported $0.60 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 firm had revenue of $551.38 million for the quarter, compared to the consensus estimate of $557.81 million. During the same period last year, the firm posted $0.65 EPS. The company's revenue was up .2% on a year-over-year basis. Equities analysts anticipate that Steven Madden, Ltd. will post 2.66 earnings per share for the current year.

Steven Madden Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Monday, June 9th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a yield of 3.66%. Steven Madden's dividend payout ratio is presently 36.21%.

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.