Russell Investments Group Ltd. Reduces Holdings in Steven Madden, Ltd. (NASDAQ:SHOO)

Russell Investments Group Ltd. decreased its holdings in Steven Madden, Ltd. (NASDAQ:SHOO – Get Rating) by 29.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 67,372 shares of the textile maker’s stock after selling 28,434 shares during the quarter. Russell Investments Group Ltd. owned 0.09% of Steven Madden worth $2,153,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in SHOO. Bank of Montreal Can increased its position in Steven Madden by 1.9% in the first quarter. Bank of Montreal Can now owns 22,683 shares of the textile maker’s stock worth $912,000 after purchasing an additional 414 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in Steven Madden by 1.0% in the first quarter. BNP Paribas Arbitrage SA now owns 52,702 shares of the textile maker’s stock worth $2,036,000 after purchasing an additional 538 shares during the last quarter. Arizona State Retirement System increased its position in Steven Madden by 2.7% in the fourth quarter. Arizona State Retirement System now owns 21,177 shares of the textile maker’s stock worth $677,000 after purchasing an additional 559 shares during the last quarter. PNC Financial Services Group Inc. increased its position in Steven Madden by 5.8% in the first quarter. PNC Financial Services Group Inc. now owns 14,050 shares of the textile maker’s stock worth $544,000 after purchasing an additional 767 shares during the last quarter. Finally, Prelude Capital Management LLC increased its position in Steven Madden by 10.0% in the third quarter. Prelude Capital Management LLC now owns 8,617 shares of the textile maker’s stock worth $230,000 after purchasing an additional 781 shares during the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. UBS Group boosted their price target on shares of Steven Madden from $33.00 to $35.00 and gave the stock a “neutral” rating in a research report on Thursday, March 30th. StockNews.com lowered shares of Steven Madden from a “buy” rating to a “hold” rating in a research note on Saturday, May 13th. Citigroup raised shares of Steven Madden from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $40.00 to $42.00 in a research note on Thursday, April 13th. Loop Capital lifted their price objective on shares of Steven Madden from $30.00 to $32.00 and gave the stock a “hold” rating in a research note on Tuesday, February 14th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $34.00 price objective on shares of Steven Madden in a research note on Thursday, February 23rd. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.14.

Steven Madden Trading Down 5.1 %

Shares of SHOO opened at $30.98 on Monday. The firm has a market capitalization of $2.35 billion, a P/E ratio of 13.41 and a beta of 1.14. Steven Madden, Ltd. has a 12-month low of $26.36 and a 12-month high of $40.28. The firm has a fifty day moving average price of $34.46 and a 200-day moving average price of $33.97.

Steven Madden (NASDAQ:SHOO – Get Rating) last released its quarterly earnings data on Tuesday, May 9th. The textile maker reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.02). The firm had revenue of $461.70 million during the quarter, compared to the consensus estimate of $449.83 million. Steven Madden had a net margin of 8.80% and a return on equity of 21.62%. The business’s revenue was down 17.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.92 earnings per share. Analysts predict that Steven Madden, Ltd. will post 2.48 earnings per share for the current year.

Steven Madden Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 23rd. Investors of record on Monday, June 12th will be issued a $0.21 dividend. The ex-dividend date is Friday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 2.71%. Steven Madden’s payout ratio is currently 36.36%.

Steven Madden Profile

(Get Rating)

Steven Madden Ltd. engages in the design, marketing, and sale of fashion-forward footwear for women, men, and children. It operates through the following segments: Wholesale Footwear, Wholesale Accessories and Apparel, Direct-to-Consumer, First Cost, and Licensing. The Wholesale Footwear segment includes branded and private label women’s, men’s, girl’s and children’s footwear.