Steven Madden, Ltd. (NASDAQ:SHOO) Holdings Lowered by Fisher Asset Management LLC

Fisher Asset Management LLC lowered its stake in Steven Madden, Ltd. (NASDAQ:SHOO) by 1.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 600,742 shares of the textile maker’s stock after selling 11,501 shares during the quarter. Fisher Asset Management LLC’s holdings in Steven Madden were worth $25,231,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the company. Los Angeles Capital Management LLC lifted its position in shares of Steven Madden by 2.3% in the 3rd quarter. Los Angeles Capital Management LLC now owns 13,979 shares of the textile maker’s stock valued at $444,000 after acquiring an additional 315 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its holdings in shares of Steven Madden by 5.1% in the third quarter. O Shaughnessy Asset Management LLC now owns 7,544 shares of the textile maker’s stock valued at $240,000 after purchasing an additional 363 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Steven Madden by 1.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 34,365 shares of the textile maker’s stock worth $1,092,000 after buying an additional 482 shares during the period. Yousif Capital Management LLC grew its holdings in shares of Steven Madden by 1.8% during the fourth quarter. Yousif Capital Management LLC now owns 35,824 shares of the textile maker’s stock valued at $1,505,000 after buying an additional 634 shares in the last quarter. Finally, GAMMA Investing LLC acquired a new position in Steven Madden during the fourth quarter valued at $32,000. 99.88% of the stock is owned by hedge funds and other institutional investors.

Steven Madden Trading Down 1.3 %

Steven Madden stock opened at $39.59 on Friday. The company has a market capitalization of $2.90 billion, a P/E ratio of 16.36 and a beta of 1.15. Steven Madden, Ltd. has a 1-year low of $29.92 and a 1-year high of $45.63. The firm’s fifty day simple moving average is $41.05 and its 200-day simple moving average is $40.06.

Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings results on Wednesday, May 1st. The textile maker reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.09. The company had revenue of $552.38 million during the quarter, compared to analysts’ expectations of $525.04 million. Steven Madden had a return on equity of 22.68% and a net margin of 8.65%. The business’s quarterly revenue was up 19.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.50 earnings per share. On average, equities research analysts predict that Steven Madden, Ltd. will post 2.62 earnings per share for the current year.

Steven Madden Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Monday, June 10th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $0.84 annualized dividend and a yield of 2.12%. Steven Madden’s dividend payout ratio (DPR) is presently 34.71%.

Analyst Upgrades and Downgrades

SHOO has been the subject of a number of research reports. Citigroup raised their price objective on Steven Madden from $41.00 to $43.00 and gave the stock a “neutral” rating in a research report on Thursday, February 29th. StockNews.com raised shares of Steven Madden from a “hold” rating to a “buy” rating in a research report on Thursday, February 29th. Piper Sandler started coverage on shares of Steven Madden in a research note on Wednesday, February 14th. They issued a “neutral” rating and a $45.00 price objective on the stock. Telsey Advisory Group reissued a “market perform” rating and set a $44.00 target price on shares of Steven Madden in a research note on Friday, April 26th. Finally, Wedbush upped their price target on shares of Steven Madden from $36.00 to $38.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 7th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $41.38.

Insider Activity

In related news, CEO Edward R. Rosenfeld sold 48,500 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 697,038 shares of the company’s stock, valued at approximately $28,920,106.62. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CFO Zine Mazouzi sold 7,246 shares of the stock in a transaction 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 transaction, the chief financial officer now owns 68,785 shares in the company, valued at approximately $2,865,583.10. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Edward R. Rosenfeld sold 48,500 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $41.49, for a total value of $2,012,265.00. Following the transaction, the chief executive officer now owns 697,038 shares of the company’s stock, valued at approximately $28,920,106.62. The disclosure for this sale can be found here. Insiders have sold a total of 59,346 shares of company stock valued at $2,464,841 over the last 90 days. 2.08% of the stock is currently owned by company insiders.

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.