Steven Madden, Ltd. (NASDAQ:SHOO) Shares Sold by Royce & Associates LP

Royce & Associates LP reduced its holdings in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 26.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 155,989 shares of the textile maker’s stock after selling 54,932 shares during the quarter. Royce & Associates LP’s holdings in Steven Madden were worth $6,633,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in SHOO. Pacer Advisors Inc. acquired a new position in Steven Madden during the 4th quarter worth $72,795,000. FMR LLC increased its holdings in Steven Madden by 8,180.4% in the third quarter. FMR LLC now owns 535,081 shares of the textile maker’s stock valued at $26,214,000 after buying an additional 528,619 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Steven Madden during the fourth quarter valued at approximately $13,652,000. Weiss Asset Management LP bought a new position in Steven Madden during the 3rd quarter worth approximately $12,558,000. Finally, Barclays PLC grew its position in shares of 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. Institutional investors and hedge funds own 99.88% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on SHOO shares. StockNews.com cut Steven Madden from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Piper Sandler decreased their price target on shares of Steven Madden from $45.00 to $40.00 and set a “neutral” rating for the company in a report on Tuesday, February 4th. Citigroup dropped their price objective on shares of Steven Madden from $38.00 to $35.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. Needham & Company LLC reaffirmed a “hold” rating on shares of Steven Madden in a report on Thursday, February 27th. Finally, Loop Capital cut their price target on Steven Madden from $40.00 to $35.00 and set a “hold” rating on the stock in a report on Thursday, February 27th. Eight research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Steven Madden currently has an average rating of “Hold” and a consensus price target of $40.33.

Steven Madden Price Performance

SHOO opened at $25.31 on Wednesday. The stock’s 50 day moving average price is $36.53 and its 200 day moving average price is $42.07. The stock has a market cap of $1.83 billion, a P/E ratio of 10.77 and a beta of 1.06. Steven Madden, Ltd. has a 12 month low of $24.97 and a 12 month high of $50.01.

Steven Madden (NASDAQ:SHOO) last issued its quarterly earnings results on Wednesday, February 26th. The textile maker reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. The company had revenue of $582.32 million for the quarter, compared to analyst estimates of $550.37 million. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. Equities analysts anticipate that Steven Madden, Ltd. will post 2.66 EPS for the current year.

Steven Madden Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Monday, March 10th will be given a $0.21 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.84 dividend on an annualized basis and a yield of 3.32%. Steven Madden’s dividend payout ratio (DPR) is 35.74%.

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.