Great Lakes Advisors LLC Sells 9,256 Shares of Steven Madden, Ltd. (NASDAQ:SHOO)

Great Lakes Advisors LLC reduced its holdings in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 8.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 98,112 shares of the textile maker’s stock after selling 9,256 shares during the quarter. Great Lakes Advisors LLC owned approximately 0.14% of Steven Madden worth $4,172,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Gladius Capital Management LP bought a new stake in Steven Madden during the third quarter worth $36,000. R Squared Ltd bought a new stake in Steven Madden during the fourth quarter worth $55,000. Blue Trust Inc. lifted its holdings in Steven Madden by 20.9% during the fourth quarter. Blue Trust Inc. now owns 1,958 shares of the textile maker’s stock worth $83,000 after acquiring an additional 339 shares during the period. KBC Group NV lifted its holdings in Steven Madden by 34.1% during the third quarter. KBC Group NV now owns 2,208 shares of the textile maker’s stock worth $108,000 after acquiring an additional 561 shares during the period. Finally, Smartleaf Asset Management LLC raised its stake in shares of Steven Madden by 21.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 4,171 shares of the textile maker’s stock valued at $176,000 after buying an additional 741 shares during the period. 99.88% of the stock is currently owned by institutional investors.

Steven Madden Stock Performance

Shares of NASDAQ SHOO opened at $25.30 on Friday. The stock has a market cap of $1.83 billion, a PE ratio of 10.77 and a beta of 1.06. Steven Madden, Ltd. has a fifty-two week low of $24.97 and a fifty-two week high of $50.01. The stock has a fifty day moving average of $37.51 and a 200-day moving average of $42.51.

Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings results on Wednesday, February 26th. The textile maker reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.02. The company 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%. On average, sell-side analysts predict that Steven Madden, Ltd. will post 2.66 EPS for the current year.

Steven Madden Announces Dividend

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

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SHOO. Piper Sandler lowered their target price on Steven Madden from $45.00 to $40.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 4th. Needham & Company LLC restated a “hold” rating on shares of Steven Madden in a research note on Thursday, February 27th. StockNews.com lowered Steven Madden from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Telsey Advisory Group lowered their target price on Steven Madden from $44.00 to $38.00 and set a “market perform” rating on the stock in a research note on Thursday, February 27th. Finally, Loop Capital lowered their target price 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. Eight analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $40.33.

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.