Vest Financial LLC Raises Stock Position in Steven Madden, Ltd. (NASDAQ:SHOO)

Vest Financial LLC lifted its position in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 79.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 56,423 shares of the textile maker’s stock after acquiring an additional 24,953 shares during the quarter. Vest Financial LLC’s holdings in Steven Madden were worth $2,399,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Pacer Advisors Inc. acquired a new stake in Steven Madden in the 4th quarter valued at approximately $72,795,000. FMR LLC lifted its stake in Steven Madden by 8,180.4% during the 3rd quarter. FMR LLC now owns 535,081 shares of the textile maker’s stock worth $26,214,000 after acquiring an additional 528,619 shares in the last quarter. Weiss Asset Management LP purchased a new position in Steven Madden during the 3rd quarter valued at about $12,558,000. Barclays PLC grew its position in Steven Madden by 286.9% in the 3rd quarter. Barclays PLC now owns 139,206 shares of the textile maker’s stock valued at $6,819,000 after acquiring an additional 103,226 shares in the last quarter. Finally, Edgestream Partners L.P. increased its stake in Steven Madden by 269.7% during the third quarter. Edgestream Partners L.P. now owns 134,716 shares of the textile maker’s stock worth $6,600,000 after purchasing an additional 98,274 shares during the period. Hedge funds and other institutional investors own 99.88% of the company’s stock.

Steven Madden Price Performance

NASDAQ SHOO opened at $37.19 on Friday. The firm’s fifty day moving average price is $41.98 and its 200 day moving average price is $44.06. Steven Madden, Ltd. has a 12 month low of $36.88 and a 12 month high of $50.01. The company has a market capitalization of $2.68 billion, a price-to-earnings ratio of 15.83 and a beta of 1.07.

Steven Madden (NASDAQ:SHOO) last posted its earnings results on Thursday, November 7th. The textile maker reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.02. The business had revenue of $624.68 million during the quarter, compared to the consensus estimate of $607.89 million. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. The business’s quarterly revenue was up 13.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.88 EPS. As a group, sell-side analysts forecast that Steven Madden, Ltd. will post 2.66 earnings per share for the current year.

Steven Madden Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend was Friday, December 13th. Steven Madden’s payout ratio is currently 35.74%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SHOO. Piper Sandler dropped their price objective 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. StockNews.com lowered Steven Madden from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Telsey Advisory Group reduced their price objective on Steven Madden from $50.00 to $44.00 and set a “market perform” rating on the stock in a research note on Tuesday, February 4th. Citigroup cut their price target on Steven Madden from $45.00 to $38.00 and set a “neutral” rating on the stock in a report on Tuesday, February 4th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Steven Madden in a research note on Thursday. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Steven Madden currently has an average rating of “Hold” and a consensus target price of $43.33.

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.