Steven Madden, Ltd. (NASDAQ:SHOO) Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. raised its holdings in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 10.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,455,980 shares of the textile maker’s stock after buying an additional 136,171 shares during the quarter. Victory Capital Management Inc. owned about 1.95% of Steven Madden worth $61,151,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of SHOO. Steele Capital Management Inc. acquired a new stake in Steven Madden in the 4th quarter valued at about $237,000. Russell Investments Group Ltd. increased its holdings in shares of Steven Madden by 24.2% in the fourth quarter. Russell Investments Group Ltd. now owns 84,528 shares of the textile maker’s stock valued at $3,550,000 after purchasing an additional 16,464 shares during the last quarter. Yousif Capital Management LLC increased its holdings in shares of Steven Madden by 1.8% in the fourth quarter. Yousif Capital Management LLC now owns 35,824 shares of the textile maker’s stock valued at $1,505,000 after purchasing an additional 634 shares during the last quarter. GAMMA Investing LLC acquired a new position in Steven Madden during the fourth quarter worth $32,000. Finally, abrdn plc acquired a new position in Steven Madden during the fourth quarter worth $20,351,000. 99.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SHOO has been the topic of several analyst reports. Citigroup lifted their price target on Steven Madden from $41.00 to $43.00 and gave the stock a “neutral” rating in a report on Thursday, February 29th. Williams Trading reissued a “hold” rating and issued a $44.00 price target on shares of Steven Madden in a research note on Wednesday, February 21st. StockNews.com raised shares of Steven Madden from a “hold” rating to a “buy” rating in a research report on Thursday, February 29th. Wedbush upped their price objective on Steven Madden from $36.00 to $38.00 and gave the company a “neutral” rating in a report on Wednesday, February 7th. Finally, 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. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Steven Madden presently has an average rating of “Hold” and an average price target of $41.38.

Steven Madden Stock Down 1.3 %

Shares of NASDAQ SHOO opened at $39.59 on Friday. The business’s 50 day moving average is $41.05 and its two-hundred day moving average is $40.06. Steven Madden, Ltd. has a 52-week low of $29.92 and a 52-week high of $45.63. The firm has a market cap of $2.90 billion, a price-to-earnings ratio of 16.36 and a beta of 1.15.

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

Steven Madden Announces Dividend

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

Insiders Place Their Bets

In other Steven Madden news, CEO Edward R. Rosenfeld sold 48,500 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now directly owns 697,038 shares in the company, valued at $28,920,106.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Edward R. Rosenfeld sold 48,500 shares of the company’s stock in a transaction 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 sale, the chief executive officer now owns 697,038 shares of the company’s stock, valued at $28,920,106.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Peter Allan Davis sold 1,200 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $42.13, for a total value of $50,556.00. Following the sale, the director now directly owns 5,751 shares in the company, valued at approximately $242,289.63. The disclosure for this sale can be found here. Insiders have sold 59,346 shares of company stock worth $2,464,841 over the last ninety days. Corporate insiders own 2.08% of the company’s stock.

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.