Swiss National Bank Lowers Stake in Steven Madden, Ltd. (NASDAQ:SHOO)

Swiss National Bank cut its position in shares of Steven Madden, Ltd. (NASDAQ:SHOOGet Rating) by 5.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 182,125 shares of the textile maker’s stock after selling 10,300 shares during the quarter. Swiss National Bank’s holdings in Steven Madden were worth $5,866,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of SHOO. Wellington Management Group LLP grew its holdings in Steven Madden by 9.4% in the first quarter. Wellington Management Group LLP now owns 7,529,549 shares of the textile maker’s stock valued at $290,941,000 after purchasing an additional 648,822 shares during the period. Leeward Investments LLC MA purchased a new stake in Steven Madden in the first quarter valued at approximately $9,244,000. First Trust Advisors LP grew its holdings in Steven Madden by 287.2% in the first quarter. First Trust Advisors LP now owns 321,678 shares of the textile maker’s stock valued at $12,430,000 after purchasing an additional 238,605 shares during the period. Assenagon Asset Management S.A. grew its holdings in Steven Madden by 45.3% in the second quarter. Assenagon Asset Management S.A. now owns 511,946 shares of the textile maker’s stock valued at $16,490,000 after purchasing an additional 159,630 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its holdings in Steven Madden by 20.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 936,435 shares of the textile maker’s stock valued at $30,162,000 after purchasing an additional 158,963 shares during the period. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Steven Madden Trading Down 0.8 %

NASDAQ SHOO opened at $34.41 on Thursday. The company’s fifty day simple moving average is $29.64 and its 200-day simple moving average is $32.32. Steven Madden, Ltd. has a 52 week low of $26.36 and a 52 week high of $49.85. The stock has a market cap of $2.68 billion, a P/E ratio of 10.89 and a beta of 1.09.

Steven Madden Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Friday, December 16th will be given a dividend of $0.21 per share. The ex-dividend date is Thursday, December 15th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.44%. Steven Madden’s payout ratio is currently 26.58%.

Wall Street Analyst Weigh In

SHOO has been the subject of a number of recent analyst reports. Loop Capital downgraded shares of Steven Madden from a “buy” rating to a “hold” rating and set a $30.00 target price for the company. in a report on Tuesday, September 13th. B. Riley lowered their target price on shares of Steven Madden from $58.00 to $49.00 in a report on Thursday, July 28th. StockNews.com assumed coverage on shares of Steven Madden in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Wedbush cut shares of Steven Madden from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $43.00 to $29.00 in a research report on Tuesday, November 1st. Finally, Exane BNP Paribas assumed coverage on shares of Steven Madden in a research report on Wednesday, September 21st. They set an “outperform” rating on the stock. Six analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $40.88.

About Steven Madden

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Steven Madden, Ltd. designs, sources, markets, and sells fashion-forward branded and private label footwear, accessories, and apparel for women, men, and children in the United States and internationally. Its Wholesale Footwear segment provides footwear under the Steve Madden, Steven by Steve Madden, Madden Girl, BB Dakota, Dolce Vita, DV Dolce Vita, Betsey Johnson, GREATS, Blondo, Anne Klein, Mad Love, Superga, Madden NYC, and COOL Planet brands, as well as private label footwear.

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Institutional Ownership by Quarter for Steven Madden (NASDAQ:SHOO)

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