New Age Alpha Advisors LLC Purchases New Stake in Steven Madden, Ltd. (NASDAQ:SHOO)

New Age Alpha Advisors LLC acquired a new position in Steven Madden, Ltd. (NASDAQ:SHOO) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 4,174 shares of the textile maker’s stock, valued at approximately $177,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Central Pacific Bank Trust Division boosted its holdings in shares of Steven Madden by 7.4% in the 4th quarter. Central Pacific Bank Trust Division now owns 4,202 shares of the textile maker’s stock valued at $179,000 after buying an additional 290 shares during the period. Moran Wealth Management LLC lifted its holdings in Steven Madden by 1.6% in the fourth quarter. Moran Wealth Management LLC now owns 21,126 shares of the textile maker’s stock worth $898,000 after acquiring an additional 325 shares during the last quarter. Blue Trust Inc. boosted its stake in Steven Madden by 20.9% in the fourth quarter. Blue Trust Inc. now owns 1,958 shares of the textile maker’s stock valued at $83,000 after acquiring an additional 339 shares during the period. Xponance Inc. grew its holdings in shares of Steven Madden by 12.3% during the fourth quarter. Xponance Inc. now owns 5,320 shares of the textile maker’s stock valued at $226,000 after purchasing an additional 584 shares during the last quarter. Finally, New York State Teachers Retirement System grew its holdings in shares of Steven Madden by 0.8% during the fourth quarter. New York State Teachers Retirement System now owns 79,672 shares of the textile maker’s stock valued at $3,388,000 after purchasing an additional 652 shares during the last quarter. Institutional investors own 99.88% of the company’s stock.

Wall Street Analysts Forecast Growth

SHOO has been the subject of a number of analyst reports. Piper Sandler reduced their price objective on Steven Madden from $45.00 to $40.00 and set a “neutral” rating for the company in a research report on Tuesday, February 4th. Loop Capital lowered their price target on shares of Steven Madden from $40.00 to $35.00 and set a “hold” rating for the company in a research report on Thursday, February 27th. Citigroup cut 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 report on Thursday, February 27th. Jefferies Financial Group restated a “hold” rating on shares of Steven Madden in a research report on Monday, February 3rd. Finally, StockNews.com cut Steven Madden from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Eight research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Steven Madden currently has a consensus rating of “Hold” and an average target price of $40.33.

Steven Madden Stock Performance

Shares of NASDAQ SHOO opened at $28.28 on Thursday. Steven Madden, Ltd. has a 1 year low of $24.56 and a 1 year high of $50.01. The firm has a market cap of $2.05 billion, a P/E ratio of 12.03 and a beta of 1.06. The stock has a fifty day moving average price of $33.37 and a two-hundred day moving average price of $40.76.

Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings data on Wednesday, February 26th. The textile maker reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.02. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. The company had revenue of $582.32 million for the quarter, compared to analysts’ expectations of $550.37 million. On average, research analysts predict that Steven Madden, Ltd. will post 2.66 earnings per share for the current fiscal year.

Steven Madden Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.97%. The ex-dividend date was Monday, March 10th. Steven Madden’s dividend payout ratio is presently 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.