By otakuyassine3@gmail.com 
Prudential Financial Inc. lessened its stake in Steven Madden, Ltd. (NASDAQ:SHOO – Free Report) by 2.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 73,327 shares of the textile maker’s stock after selling 1,802 shares during the quarter. Prudential Financial Inc.’s holdings in Steven Madden were worth $3,170,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Central Pacific Bank Trust Division grew its position in Steven Madden by 7.4% during the fourth quarter. Central Pacific Bank Trust Division now owns 4,202 shares of the textile maker’s stock worth $179,000 after buying an additional 290 shares during the period. Moran Wealth Management LLC grew its holdings in shares of Steven Madden by 1.6% in the 4th 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 period. Blue Trust Inc. increased its stake in Steven Madden by 20.9% in the 4th quarter. Blue Trust Inc. now owns 1,958 shares of the textile maker’s stock valued at $83,000 after purchasing an additional 339 shares in the last quarter. Xponance Inc. raised its holdings in Steven Madden by 12.3% during the fourth quarter. Xponance Inc. now owns 5,320 shares of the textile maker’s stock worth $226,000 after purchasing an additional 584 shares during the last quarter. Finally, New York State Teachers Retirement System boosted its position in 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 worth $3,388,000 after purchasing an additional 652 shares in the last quarter. Institutional investors and hedge funds own 99.88% of the company’s stock.
Wall Street Analyst Weigh In
A number of brokerages have recently weighed in on SHOO. Telsey Advisory Group dropped their price target on Steven Madden from $44.00 to $38.00 and set a “market perform” rating for the company in a research report on Thursday, February 27th. StockNews.com cut shares of Steven Madden from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Loop Capital lowered their price target on shares of Steven Madden from $40.00 to $35.00 and set a “hold” rating on the stock in a research report on Thursday, February 27th. Piper Sandler cut 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. Finally, Jefferies Financial Group reiterated a “hold” rating on shares of Steven Madden in a report on Monday, February 3rd. Eight 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.com, the company presently has a consensus rating of “Hold” and a consensus price target of $40.33.
Read Our Latest Stock Analysis on Steven Madden
Steven Madden Stock Performance
Shares of NASDAQ SHOO opened at $28.28 on Thursday. The firm has a market cap of $2.05 billion, a P/E ratio of 12.03 and a beta of 1.06. Steven Madden, Ltd. has a 1 year low of $24.56 and a 1 year high of $50.01. The firm’s 50 day moving average price is $33.37 and its 200 day moving average price is $40.76.
Steven Madden (NASDAQ:SHOO – Get Free Report) last posted 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. The business had revenue of $582.32 million for 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%. As a group, equities analysts predict that Steven Madden, Ltd. will post 2.66 EPS for the current 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 issued a dividend of $0.21 per share. The ex-dividend date was Monday, March 10th. This represents a $0.84 annualized dividend and a dividend yield of 2.97%. 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.
See Also
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