abrdn plc Acquires Shares of 484,550 Steven Madden, Ltd. (NASDAQ:SHOO)

abrdn plc acquired a new stake in shares of Steven Madden, Ltd. (NASDAQ:SHOO) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 484,550 shares of the textile maker’s stock, valued at approximately $20,351,000. abrdn plc owned about 0.65% of Steven Madden as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the business. Los Angeles Capital Management LLC boosted its stake in shares of Steven Madden by 2.3% during the 3rd quarter. Los Angeles Capital Management LLC now owns 13,979 shares of the textile maker’s stock worth $444,000 after purchasing an additional 315 shares during the period. O Shaughnessy Asset Management LLC boosted its stake in shares of Steven Madden by 5.1% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 7,544 shares of the textile maker’s stock worth $240,000 after purchasing an additional 363 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Steven Madden by 1.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 34,365 shares of the textile maker’s stock worth $1,092,000 after purchasing an additional 482 shares during the period. Strs Ohio boosted its stake in shares of Steven Madden by 3.3% during the 3rd quarter. Strs Ohio now owns 31,100 shares of the textile maker’s stock worth $988,000 after purchasing an additional 1,000 shares during the period. Finally, Rhumbline Advisers boosted its stake in shares of Steven Madden by 0.5% during the 3rd quarter. Rhumbline Advisers now owns 232,540 shares of the textile maker’s stock worth $7,388,000 after purchasing an additional 1,081 shares during the period. Institutional investors own 99.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SHOO. Citigroup boosted their price objective on shares of Steven Madden from $41.00 to $43.00 and gave the company a “neutral” rating in a research report on Thursday, February 29th. Williams Trading reissued a “hold” rating and issued a $44.00 price objective on shares of Steven Madden in a research report on Wednesday, February 21st. Telsey Advisory Group boosted 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 report on Thursday, February 29th. Piper Sandler began coverage on shares of Steven Madden in a research report on Wednesday, February 14th. They issued a “neutral” rating and a $45.00 price objective for the company. Finally, StockNews.com raised shares of Steven Madden from a “hold” rating to a “buy” rating in a research report on Thursday, February 29th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Steven Madden presently has a consensus rating of “Hold” and an average price target of $41.38.

Steven Madden Stock Performance

NASDAQ:SHOO opened at $40.44 on Wednesday. The firm has a market cap of $2.97 billion, a P/E ratio of 17.58 and a beta of 1.16. The firm has a 50-day simple moving average of $41.61 and a 200-day simple moving average of $39.67. Steven Madden, Ltd. has a one year low of $29.92 and a one year high of $45.63.

Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings data on Wednesday, February 28th. The textile maker reported $0.61 EPS for the quarter, topping the consensus estimate of $0.56 by $0.05. The firm had revenue of $519.71 million during the quarter, compared to analyst estimates of $511.96 million. Steven Madden had a net margin of 8.67% and a return on equity of 21.61%. Steven Madden’s revenue was up 10.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.44 EPS. On average, research analysts predict that Steven Madden, Ltd. will post 2.61 EPS for the current fiscal year.

Steven Madden Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were paid a dividend of $0.21 per share. The ex-dividend date was Thursday, March 7th. This represents a $0.84 annualized dividend and a dividend yield of 2.08%. Steven Madden’s dividend payout ratio (DPR) is presently 36.52%.

Insider Buying and Selling at Steven Madden

In other Steven Madden news, Director Peter Allan Davis sold 1,200 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $42.13, for a total transaction of $50,556.00. Following the transaction, the director now owns 5,751 shares in the company, valued at approximately $242,289.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Steven Madden news, CEO Edward R. Rosenfeld sold 48,500 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $41.49, for a total transaction of $2,012,265.00. Following the transaction, the chief executive officer now owns 697,038 shares in the company, valued at approximately $28,920,106.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Peter Allan Davis sold 1,200 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $42.13, for a total transaction of $50,556.00. Following the transaction, the director now owns 5,751 shares in the company, valued at approximately $242,289.63. The disclosure for this sale can be found here. In the last quarter, insiders have sold 59,346 shares of company stock worth $2,464,841. 2.01% of the stock is owned by corporate insiders.

Steven Madden Profile

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.