T. Rowe Price Investment Management Inc. Sells 559,413 Shares of Steven Madden, Ltd. (NASDAQ:SHOO)

T. Rowe Price Investment Management Inc. trimmed its position in shares of Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 19.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,346,379 shares of the textile maker's stock after selling 559,413 shares during the period. T. Rowe Price Investment Management Inc. owned 3.25% of Steven Madden worth $99,769,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in SHOO. Barclays PLC lifted its stake in Steven Madden by 286.9% in the 3rd quarter. Barclays PLC now owns 139,206 shares of the textile maker's stock worth $6,819,000 after acquiring an additional 103,226 shares in the last quarter. Tidal Investments LLC grew its stake in shares of Steven Madden by 15.1% in the 3rd quarter. Tidal Investments LLC now owns 17,375 shares of the textile maker's stock valued at $851,000 after buying an additional 2,278 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Steven Madden by 5.0% in the third quarter. JPMorgan Chase & Co. now owns 462,096 shares of the textile maker's stock worth $22,638,000 after buying an additional 21,942 shares during the last quarter. Central Pacific Bank Trust Division raised its position in Steven Madden by 7.4% during the fourth quarter. Central Pacific Bank Trust Division now owns 4,202 shares of the textile maker's stock valued at $179,000 after acquiring an additional 290 shares in the last quarter. Finally, Harbor Capital Advisors Inc. boosted its holdings in Steven Madden by 1.9% in the fourth quarter. Harbor Capital Advisors Inc. now owns 124,271 shares of the textile maker's stock worth $5,284,000 after purchasing an additional 2,266 shares in the last quarter. 99.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Loop Capital dropped their price objective on Steven Madden from $40.00 to $35.00 and set a "hold" rating on the stock in a research note on Thursday, February 27th. Citigroup dropped their price objective on Steven Madden from $38.00 to $35.00 and set a "neutral" rating for the company in a research note on Thursday, February 27th. Piper Sandler reduced their price objective on Steven Madden from $35.00 to $25.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Jefferies Financial Group reissued a "hold" rating on shares of Steven Madden in a report on Monday, February 3rd. Finally, UBS Group dropped their target price on shares of Steven Madden from $24.00 to $22.00 and set a "neutral" rating for the company in a research note on Wednesday, April 23rd. Nine equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $33.57.

Steven Madden Trading Down 1.4 %

Shares of SHOO stock traded down $0.29 on Wednesday, hitting $20.68. The stock had a trading volume of 291,726 shares, compared to its average volume of 931,385. Steven Madden, Ltd. has a twelve month low of $19.05 and a twelve month high of $50.01. The firm has a market cap of $1.50 billion, a P/E ratio of 8.80 and a beta of 0.98. The company has a fifty day moving average price of $25.64 and a two-hundred day moving average price of $36.88.

Steven Madden (NASDAQ:SHOO - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The textile maker reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.02. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. The business had revenue of $582.32 million during the quarter, compared to analyst estimates of $550.37 million. On average, analysts expect that Steven Madden, Ltd. will post 2.66 earnings per share for the current year.

Steven Madden Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Monday, March 10th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date was Monday, March 10th. Steven Madden's dividend payout ratio (DPR) is currently 35.74%.

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.