By otakuyassine3@gmail.com 
Pictet Asset Management Holding SA grew its holdings in Steven Madden, Ltd. (NASDAQ:SHOO – Free Report) by 17.9% during the 4th quarter, HoldingsChannel reports. The firm owned 10,503 shares of the textile maker’s stock after acquiring an additional 1,594 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Steven Madden were worth $447,000 as of its most recent filing with the SEC.
A number of other institutional investors have also made changes to their positions in the business. Pacer Advisors Inc. acquired a new position in Steven Madden during the 4th quarter valued at $72,795,000. Raymond James Financial Inc. bought a new position in shares of Steven Madden during the 4th quarter worth about $13,652,000. Norges Bank acquired a new position in shares of Steven Madden during the fourth quarter valued at about $9,399,000. JPMorgan Chase & Co. lifted its stake in shares of Steven Madden by 26.4% in the fourth quarter. JPMorgan Chase & Co. now owns 584,068 shares of the textile maker’s stock valued at $24,835,000 after buying an additional 121,972 shares during the period. Finally, Barclays PLC grew its position in Steven Madden by 286.9% during the third quarter. Barclays PLC now owns 139,206 shares of the textile maker’s stock worth $6,819,000 after buying an additional 103,226 shares in the last quarter. 99.88% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of brokerages have weighed in on SHOO. StockNews.com cut Steven Madden from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Needham & Company LLC reaffirmed a “hold” rating on shares of Steven Madden in a report on Thursday, February 27th. Piper Sandler reduced their target price on Steven Madden from $45.00 to $40.00 and set a “neutral” rating on the stock in a report on Tuesday, February 4th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Steven Madden in a report on Monday, February 3rd. Finally, Telsey Advisory Group reduced their price objective 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. Eight analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $40.33.
View Our Latest Stock Report on SHOO
Steven Madden Stock Up 10.5 %
Shares of NASDAQ:SHOO opened at $22.14 on Thursday. Steven Madden, Ltd. has a 12-month low of $19.05 and a 12-month high of $50.01. The business has a 50 day moving average of $30.65 and a 200-day moving average of $39.58. The stock has a market cap of $1.60 billion, a PE ratio of 9.42 and a beta of 0.98.
Steven Madden (NASDAQ:SHOO – Get Free Report) last announced its earnings results 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. 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 during the quarter, compared to analysts’ expectations of $550.37 million. Equities research analysts expect that Steven Madden, Ltd. will post 2.66 earnings per share for the current year.
Steven Madden Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Monday, March 10th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date of this dividend was Monday, March 10th. Steven Madden’s payout ratio is currently 35.74%.
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.
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