Moody National Bank Trust Division Reduces Position in Steven Madden, Ltd. (NASDAQ:SHOO)

Moody National Bank Trust Division lowered its position in shares of Steven Madden, Ltd. (NASDAQ:SHOOFree Report) by 10.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,983 shares of the textile maker’s stock after selling 1,139 shares during the period. Moody National Bank Trust Division’s holdings in Steven Madden were worth $419,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Balyasny Asset Management L.P. acquired a new stake in shares of Steven Madden during the 1st quarter worth about $47,876,000. Wellington Management Group LLP lifted its position 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 acquiring an additional 648,822 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Steven Madden by 71.9% during the fourth quarter. Victory Capital Management Inc. now owns 1,347,639 shares of the textile maker’s stock worth $43,071,000 after purchasing an additional 563,607 shares during the last quarter. Norges Bank acquired a new stake in shares of Steven Madden during the fourth quarter worth about $15,660,000. Finally, Lazard Asset Management LLC lifted its holdings in shares of Steven Madden by 348.9% in the 3rd quarter. Lazard Asset Management LLC now owns 447,018 shares of the textile maker’s stock valued at $14,201,000 after purchasing an additional 347,431 shares during the last quarter. 99.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Steven Madden

In related news, CEO Edward R. Rosenfeld sold 48,500 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $41.49, for a total value of $2,012,265.00. Following the sale, the chief executive officer now directly owns 697,038 shares in the company, valued at approximately $28,920,106.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Edward R. Rosenfeld sold 48,500 shares of Steven Madden stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $41.49, for a total transaction of $2,012,265.00. Following the completion of the transaction, the chief executive officer now directly owns 697,038 shares in the company, valued at approximately $28,920,106.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Zine Mazouzi sold 7,246 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $41.66, for a total value of $301,868.36. Following the completion of the sale, the chief financial officer now directly owns 68,785 shares in the company, valued at approximately $2,865,583.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 59,346 shares of company stock valued at $2,464,841. Insiders own 2.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on SHOO shares. Wedbush raised their price target on Steven Madden from $36.00 to $38.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 7th. Piper Sandler assumed coverage on shares of Steven Madden in a report on Wednesday, February 14th. They issued a “neutral” rating and a $45.00 target price on the stock. Williams Trading reiterated a “hold” rating and set a $44.00 price target on shares of Steven Madden in a research note on Wednesday, February 21st. Telsey Advisory Group lifted their price objective on shares of Steven Madden from $39.00 to $44.00 and gave the company a “market perform” rating in a research note on Thursday, February 29th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $40.00 target price on shares of Steven Madden in a research note on Thursday, January 4th. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $41.38.

View Our Latest Research Report on Steven Madden

Steven Madden Stock Performance

Steven Madden stock opened at $41.14 on Friday. Steven Madden, Ltd. has a one year low of $29.92 and a one year high of $45.63. The company has a market cap of $3.04 billion, a P/E ratio of 17.89 and a beta of 1.16. The business has a fifty day moving average of $42.37 and a two-hundred day moving average of $38.30.

Steven Madden (NASDAQ:SHOOGet Free Report) last issued its earnings results on Wednesday, February 28th. The textile maker reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.05. The company had revenue of $519.71 million during the quarter, compared to analysts’ expectations of $511.96 million. Steven Madden had a net margin of 8.67% and a return on equity of 21.61%. The firm’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same period last year, the company posted $0.44 earnings per share. Sell-side analysts predict that Steven Madden, Ltd. will post 2.61 EPS for the current year.

Steven Madden Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend was Thursday, March 7th. Steven Madden’s dividend payout ratio (DPR) is 36.52%.

Steven Madden Profile

(Free Report)

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.

Further Reading

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

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