Steven Madden, Ltd. (NASDAQ:SHOO) Shares Sold by Royce & Associates LP

Royce & Associates LP cut its position in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 26.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 155,989 shares of the textile maker’s stock after selling 54,932 shares during the quarter. Royce & Associates LP owned approximately 0.22% of Steven Madden worth $6,633,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Central Pacific Bank Trust Division grew its stake in 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 worth $179,000 after acquiring an additional 290 shares during the period. Moran Wealth Management LLC boosted its holdings in shares of Steven Madden by 1.6% during the fourth 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. Blue Trust Inc. grew its position in shares of 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 purchasing an additional 339 shares during the period. KBC Group NV increased its stake in Steven Madden by 34.1% in the third quarter. KBC Group NV now owns 2,208 shares of the textile maker’s stock valued at $108,000 after purchasing an additional 561 shares during the last quarter. Finally, New York State Teachers Retirement System lifted 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 buying an additional 652 shares during the period. Institutional investors and hedge funds own 99.88% of the company’s stock.

Steven Madden Trading Down 1.7 %

Shares of NASDAQ SHOO opened at $25.31 on Wednesday. The stock has a fifty day moving average price of $36.53 and a 200 day moving average price of $42.07. Steven Madden, Ltd. has a 12-month low of $24.97 and a 12-month high of $50.01. The company has a market cap of $1.83 billion, a P/E ratio of 10.77 and a beta of 1.06.

Steven Madden (NASDAQ:SHOO) last announced its earnings results on Wednesday, February 26th. The textile maker reported $0.55 EPS for the quarter, beating the consensus estimate of $0.53 by $0.02. The business had revenue of $582.32 million for the quarter, compared to the consensus estimate 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 forecast that Steven Madden, Ltd. will post 2.66 EPS for the current fiscal year.

Steven Madden Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Investors 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 yield of 3.32%. The ex-dividend date is Monday, March 10th. Steven Madden’s payout ratio is 35.74%.

Analyst Ratings Changes

SHOO has been the subject of several recent analyst reports. Citigroup lowered their price target on Steven Madden from $38.00 to $35.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. Loop Capital dropped 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. 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 report on Tuesday, February 4th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Steven Madden in a research report on Monday, February 3rd. Finally, StockNews.com downgraded Steven Madden from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Eight equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus 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.