Kennedy Capital Management LLC Has $2.79 Million Stake in Steven Madden, Ltd. (NASDAQ:SHOO)

Kennedy Capital Management LLC reduced its stake in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 85.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 65,530 shares of the textile maker’s stock after selling 391,038 shares during the quarter. Kennedy Capital Management LLC owned about 0.09% of Steven Madden worth $2,786,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. State Street Corp increased its stake in shares of Steven Madden by 1.7% in the 3rd quarter. State Street Corp now owns 2,756,075 shares of the textile maker’s stock valued at $135,020,000 after buying an additional 47,017 shares during the period. Barclays PLC boosted its holdings in Steven Madden by 286.9% in the third quarter. Barclays PLC now owns 139,206 shares of the textile maker’s stock valued at $6,819,000 after acquiring an additional 103,226 shares during the last quarter. Geode Capital Management LLC increased its position in Steven Madden by 3.0% in the third quarter. Geode Capital Management LLC now owns 1,710,492 shares of the textile maker’s stock worth $83,812,000 after purchasing an additional 49,075 shares during the period. Tidal Investments LLC raised its holdings in Steven Madden by 15.1% during the 3rd quarter. Tidal Investments LLC now owns 17,375 shares of the textile maker’s stock worth $851,000 after purchasing an additional 2,278 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Steven Madden by 5.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 462,096 shares of the textile maker’s stock valued at $22,638,000 after purchasing an additional 21,942 shares during the period. Institutional investors and hedge funds own 99.88% of the company’s stock.

Analysts Set New Price Targets

SHOO has been the subject of a number of recent research reports. Jefferies Financial Group reissued a “hold” rating on shares of Steven Madden in a research note on Monday, February 3rd. Citigroup cut their price target on Steven Madden from $38.00 to $35.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. Loop Capital decreased their price objective on Steven Madden from $40.00 to $35.00 and set a “hold” rating for the company in a research note on Thursday, February 27th. Needham & Company LLC reissued a “hold” rating on shares of Steven Madden in a research note on Thursday, February 27th. Finally, Piper Sandler decreased their target price on Steven Madden from $35.00 to $25.00 and set a “neutral” rating for the company in a research report on Friday. Eight investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $37.83.

Steven Madden Trading Down 1.8 %

NASDAQ:SHOO opened at $20.80 on Monday. Steven Madden, Ltd. has a 1 year low of $19.05 and a 1 year high of $50.01. The stock has a 50-day moving average price of $29.98 and a two-hundred day moving average price of $39.13. The stock has a market cap of $1.51 billion, a price-to-earnings ratio of 8.85 and a beta of 0.98.

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

Steven Madden Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors 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 dividend on an annualized basis and a dividend yield of 4.04%. Steven Madden’s payout ratio is 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.