First Eagle Investment Management LLC Has $4.13 Million Position in Steven Madden, Ltd. (NASDAQ:SHOO)

First Eagle Investment Management LLC cut its position in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 3.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 97,226 shares of the textile maker’s stock after selling 3,100 shares during the period. First Eagle Investment Management LLC owned 0.13% of Steven Madden worth $4,134,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Vestcor Inc acquired a new position in shares of Steven Madden during the 4th quarter worth about $242,000. HighTower Advisors LLC increased its stake in shares of Steven Madden by 11.7% during the 4th quarter. HighTower Advisors LLC now owns 6,439 shares of the textile maker’s stock worth $274,000 after purchasing an additional 676 shares during the last quarter. Moran Wealth Management LLC increased its stake in shares of Steven Madden by 1.6% during the 4th quarter. Moran Wealth Management LLC now owns 21,126 shares of the textile maker’s stock worth $898,000 after purchasing an additional 325 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Steven Madden by 40.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,716 shares of the textile maker’s stock worth $1,008,000 after purchasing an additional 6,826 shares during the last quarter. Finally, AlphaQuest LLC increased its stake in shares of Steven Madden by 248.3% during the 4th quarter. AlphaQuest LLC now owns 29,135 shares of the textile maker’s stock worth $1,239,000 after purchasing an additional 20,769 shares during the last quarter. 99.88% of the stock is currently owned by institutional investors and hedge funds.

Steven Madden Stock Down 1.5 %

NASDAQ SHOO opened at $25.30 on Friday. The company has a market capitalization 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. The firm has a 50-day moving average price of $37.18 and a two-hundred day moving average price of $42.36.

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

Steven Madden Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on SHOO shares. Loop Capital lowered their price objective on shares of Steven Madden from $40.00 to $35.00 and set a “hold” rating on the stock in a research note on Thursday, February 27th. Telsey Advisory Group decreased their price target on shares of 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. Jefferies Financial Group reiterated a “hold” rating on shares of Steven Madden in a research note on Monday, February 3rd. Citigroup decreased 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 note on Thursday, February 27th. Finally, Piper Sandler decreased their price target on shares of Steven Madden from $45.00 to $40.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 4th. Eight analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $40.33.

Steven Madden Profile

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.