Steven Madden, Ltd. (NASDAQ:SHOO) Shares Bought by Bank of Montreal Can

Bank of Montreal Can grew its stake in Steven Madden, Ltd. (NASDAQ:SHOO) by 5.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,660 shares of the textile maker’s stock after buying an additional 554 shares during the period. Bank of Montreal Can’s holdings in Steven Madden were worth $453,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in SHOO. Pacer Advisors Inc. acquired a new stake in shares of Steven Madden in the fourth quarter worth $72,795,000. Raymond James Financial Inc. acquired a new position in shares of Steven Madden in the 4th quarter valued at about $13,652,000. Norges Bank purchased a new stake in shares of Steven Madden in the fourth quarter worth about $9,399,000. Trexquant Investment LP grew its holdings in Steven Madden by 147.3% during the fourth quarter. Trexquant Investment LP now owns 257,334 shares of the textile maker’s stock worth $10,942,000 after acquiring an additional 153,280 shares during the period. Finally, ExodusPoint Capital Management LP acquired a new position in Steven Madden in the fourth quarter valued at approximately $5,726,000. 99.88% of the stock is currently owned by institutional investors and hedge funds.

Steven Madden Trading Up 0.5 %

SHOO opened at $19.99 on Tuesday. The firm has a market capitalization of $1.45 billion, a PE ratio of 8.51 and a beta of 0.98. The firm’s 50-day moving average price is $27.87 and its 200 day moving average price is $37.92. Steven Madden, Ltd. has a twelve month low of $19.05 and a twelve month high of $50.01.

Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings results on Wednesday, February 26th. The textile maker reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. The business had revenue of $582.32 million during the quarter, compared to the consensus estimate of $550.37 million. As a group, analysts predict that Steven Madden, Ltd. will post 2.66 earnings per share for the current fiscal year.

Steven Madden Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date was Monday, March 10th. Steven Madden’s dividend payout ratio (DPR) is 35.74%.

Analyst Upgrades and Downgrades

SHOO has been the subject of several recent research reports. Telsey Advisory Group cut their target price on shares of Steven Madden from $44.00 to $38.00 and set a “market perform” rating for the company in a report on Thursday, February 27th. Jefferies Financial Group reissued a “hold” rating on shares of Steven Madden in a research note on Monday, February 3rd. Piper Sandler reduced their price target on Steven Madden from $35.00 to $25.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Needham & Company LLC reissued a “hold” rating on shares of Steven Madden in a report on Thursday, February 27th. Finally, Citigroup reduced their target price on Steven Madden from $38.00 to $35.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. Eight research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Steven Madden has an average rating of “Hold” and a consensus target price of $37.83.

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.