First Eagle Investment Management LLC Purchases 7,499 Shares of Steven Madden, Ltd. (NASDAQ:SHOO)

First Eagle Investment Management LLC raised its position in Steven Madden, Ltd. (NASDAQ:SHOO) by 3.4% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 229,826 shares of the textile maker’s stock after purchasing an additional 7,499 shares during the quarter. First Eagle Investment Management LLC’s holdings in Steven Madden were worth $9,653,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its stake in shares of Steven Madden by 2.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,024,238 shares of the textile maker’s stock valued at $43,018,000 after buying an additional 26,177 shares in the last quarter. Natixis Advisors L.P. grew its holdings in Steven Madden by 9.8% during the 4th quarter. Natixis Advisors L.P. now owns 14,467 shares of the textile maker’s stock worth $607,000 after acquiring an additional 1,292 shares during the last quarter. Victory Capital Management Inc. increased its position in Steven Madden by 10.3% in the 4th quarter. Victory Capital Management Inc. now owns 1,455,980 shares of the textile maker’s stock valued at $61,151,000 after acquiring an additional 136,171 shares in the last quarter. Steele Capital Management Inc. bought a new position in shares of Steven Madden in the fourth quarter worth about $237,000. Finally, Russell Investments Group Ltd. lifted its position in shares of Steven Madden by 24.2% during the fourth quarter. Russell Investments Group Ltd. now owns 84,528 shares of the textile maker’s stock worth $3,550,000 after purchasing an additional 16,464 shares in the last quarter. 99.88% of the stock is owned by institutional investors.

Analyst Ratings Changes

SHOO has been the subject of several research analyst reports. Citigroup boosted their price objective on shares of Steven Madden from $41.00 to $43.00 and gave the stock a “neutral” rating in a research report on Thursday, February 29th. Wedbush reaffirmed a “neutral” rating and set a $41.00 price target on shares of Steven Madden in a research note on Friday. Williams Trading reiterated a “hold” rating and issued a $44.00 price objective on shares of Steven Madden in a research report on Wednesday, February 21st. Piper Sandler began coverage on Steven Madden in a report on Wednesday, February 14th. They set a “neutral” rating and a $45.00 price objective for the company. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $44.00 target price on shares of Steven Madden in a research note on Friday, April 26th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $41.75.

Steven Madden Trading Down 0.3 %

NASDAQ SHOO opened at $41.66 on Friday. Steven Madden, Ltd. has a 12 month low of $29.92 and a 12 month high of $45.63. The stock has a 50-day simple moving average of $40.79 and a 200 day simple moving average of $40.60. The company has a market capitalization of $3.06 billion, a PE ratio of 17.21 and a beta of 1.15.

Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings results on Wednesday, May 1st. The textile maker reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.09. The company had revenue of $552.38 million during the quarter, compared to analysts’ expectations of $525.04 million. Steven Madden had a return on equity of 22.68% and a net margin of 8.65%. Steven Madden’s revenue was up 19.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.50 EPS. As a group, sell-side analysts predict that Steven Madden, Ltd. will post 2.62 earnings per share for the current fiscal year.

Steven Madden Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Monday, June 10th will be issued a $0.21 dividend. The ex-dividend date is Monday, June 10th. This represents a $0.84 annualized dividend and a yield of 2.02%. Steven Madden’s dividend payout ratio (DPR) is presently 34.71%.

Insider Transactions at Steven Madden

In related news, Director Peter Allan Davis sold 1,200 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $42.13, for a total value of $50,556.00. Following the completion of the sale, the director now owns 5,751 shares in the company, valued at approximately $242,289.63. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Steven Madden news, CEO Edward R. Rosenfeld sold 48,500 shares of Steven Madden stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $41.49, for a total value of $2,012,265.00. Following the transaction, the chief executive officer now owns 697,038 shares of the company’s stock, valued at $28,920,106.62. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Peter Allan Davis sold 1,200 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $42.13, for a total transaction of $50,556.00. Following the completion of the transaction, the director now owns 5,751 shares of the company’s stock, valued at approximately $242,289.63. The disclosure for this sale can be found here. Insiders have sold a total of 59,346 shares of company stock valued at $2,464,841 over the last three months. 2.08% of the stock is currently owned by corporate insiders.

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.