Voya Investment Management LLC cut its holdings in shares of Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 22.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 188,212 shares of the textile maker's stock after selling 52,941 shares during the quarter. Voya Investment Management LLC owned about 0.26% of Steven Madden worth $8,003,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Pacer Advisors Inc. acquired a new stake in shares of Steven Madden during the 4th quarter valued at about $72,795,000. First Trust Advisors LP lifted its stake in Steven Madden by 36.9% during the fourth quarter. First Trust Advisors LP now owns 2,002,228 shares of the textile maker's stock worth $85,135,000 after purchasing an additional 539,738 shares during the period. Raymond James Financial Inc. acquired a new stake in Steven Madden during the fourth quarter valued at approximately $13,652,000. Norges Bank bought a new stake in shares of Steven Madden in the 4th quarter valued at approximately $9,399,000. Finally, Trexquant Investment LP raised its holdings 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 buying an additional 153,280 shares in the last quarter. 99.88% of the stock is currently owned by institutional investors and hedge funds.
Steven Madden Stock Performance
NASDAQ SHOO opened at $20.97 on Wednesday. Steven Madden, Ltd. has a 52 week low of $19.05 and a 52 week high of $50.01. The stock has a market capitalization of $1.52 billion, a P/E ratio of 8.92 and a beta of 0.98. The stock has a fifty day moving average of $25.64 and a 200-day moving average of $36.88.
Steven Madden (NASDAQ:SHOO - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The textile maker reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.02. The firm had revenue of $582.32 million during the quarter, compared to analysts' expectations of $550.37 million. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. Equities research analysts forecast that Steven Madden, Ltd. will post 2.66 earnings per share for the current fiscal year.
Steven Madden Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 10th were paid a $0.21 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.84 dividend on an annualized basis and a yield of 4.01%. Steven Madden's payout ratio is presently 35.74%.
Wall Street Analysts Forecast Growth
A number of analysts have weighed in on SHOO shares. UBS Group lowered their price target on Steven Madden from $24.00 to $22.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 23rd. Piper Sandler lowered their target price on shares of Steven Madden from $35.00 to $25.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Loop Capital cut their price target on shares of Steven Madden from $40.00 to $35.00 and set a "hold" rating for the company in a report on Thursday, February 27th. Citigroup reduced their price target on shares of Steven Madden from $38.00 to $35.00 and set a "neutral" rating on the stock in a research report on Thursday, February 27th. Finally, Telsey Advisory Group cut their target price on shares of Steven Madden from $44.00 to $38.00 and set a "market perform" rating for the company in a research note on Thursday, February 27th. Nine research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $35.57.
View Our Latest Research Report on SHOO
About Steven Madden
(
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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