Bank of America Corp DE Sells 128,796 Shares of Steven Madden, Ltd. (NASDAQ:SHOO)

Bank of America Corp DE reduced its holdings in Steven Madden, Ltd. (NASDAQ:SHOO) by 16.4% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 657,167 shares of the textile maker’s stock after selling 128,796 shares during the quarter. Bank of America Corp DE owned 0.91% of Steven Madden worth $27,943,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. R Squared Ltd purchased a new stake in Steven Madden in the fourth quarter valued at approximately $55,000. Quarry LP raised its position in Steven Madden by 403.6% during the fourth quarter. Quarry LP now owns 1,385 shares of the textile maker’s stock valued at $59,000 after purchasing an additional 1,110 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of Steven Madden by 20.9% in the 4th quarter. Blue Trust Inc. now owns 1,958 shares of the textile maker’s stock worth $83,000 after purchasing an additional 339 shares in the last quarter. KBC Group NV raised its holdings in shares of Steven Madden by 36.5% during the 4th quarter. KBC Group NV now owns 3,013 shares of the textile maker’s stock valued at $128,000 after buying an additional 805 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in Steven Madden by 21.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 4,171 shares of the textile maker’s stock worth $176,000 after buying an additional 741 shares in the last quarter. Institutional investors own 99.88% of the company’s stock.

Steven Madden Trading Down 1.4%

SHOO opened at $26.18 on Friday. The stock has a fifty day simple moving average of $23.41 and a two-hundred day simple moving average of $34.80. The company has a market cap of $1.90 billion, a price-to-earnings ratio of 11.14 and a beta of 1.04. Steven Madden, Ltd. has a 12-month low of $19.05 and a 12-month high of $50.01.

Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings data on Wednesday, May 7th. The textile maker reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.14. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. The business had revenue of $551.38 million during the quarter, compared to the consensus estimate of $557.81 million. During the same quarter in the prior year, the company earned $0.65 earnings per share. The firm’s quarterly revenue was up .2% compared to the same quarter last year. On average, analysts predict that Steven Madden, Ltd. will post 2.66 EPS for the current year.

Steven Madden Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Monday, June 9th will be issued a dividend of $0.21 per share. The ex-dividend date is Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 3.21%. Steven Madden’s payout ratio is presently 36.21%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on SHOO shares. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $24.00 target price on shares of Steven Madden in a research note on Thursday, May 8th. Needham & Company LLC reissued a “hold” rating on shares of Steven Madden in a research note on Friday, May 2nd. UBS Group increased their price objective on Steven Madden from $22.00 to $23.00 and gave the company a “neutral” rating in a research note on Thursday, May 8th. Jefferies Financial Group reissued a “hold” rating on shares of Steven Madden in a research note on Monday, February 3rd. Finally, Piper Sandler dropped their price objective on Steven Madden from $35.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Nine equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $32.00.

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.