Vanguard Group Inc. Has $346.14 Million Position in Steven Madden, Ltd. (NASDAQ:SHOO)

Vanguard Group Inc. trimmed its holdings in Steven Madden, Ltd. (NASDAQ:SHOO) by 1.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,241,420 shares of the textile maker’s stock after selling 88,185 shares during the period. Vanguard Group Inc. owned about 0.11% of Steven Madden worth $346,140,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its holdings in Steven Madden by 2.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,024,238 shares of the textile maker’s stock worth $43,018,000 after purchasing an additional 26,177 shares in the last quarter. Pacer Advisors Inc. grew its holdings in Steven Madden by 30.7% during the fourth quarter. Pacer Advisors Inc. now owns 1,469,956 shares of the textile maker’s stock worth $61,738,000 after buying an additional 345,558 shares in the last quarter. Corient Private Wealth LLC purchased a new stake in Steven Madden in the 4th quarter valued at $809,000. Quantedge Capital Pte Ltd bought a new position in Steven Madden during the 4th quarter valued at $979,000. Finally, Raymond James & Associates boosted its holdings in Steven Madden by 4.1% during the 4th quarter. Raymond James & Associates now owns 105,879 shares of the textile maker’s stock worth $4,447,000 after acquiring an additional 4,136 shares during the last quarter. 99.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on SHOO shares. Wedbush reissued a “neutral” rating and set a $41.00 price target on shares of Steven Madden in a research report on Friday, May 17th. BTIG Research lifted their target price on shares of Steven Madden from $50.00 to $53.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $44.00 price target on shares of Steven Madden in a research report on Friday, April 26th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $43.38.

Insider Activity

In related news, Director Rose Peabody Lynch sold 1,600 shares of Steven Madden stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $44.41, for a total value of $71,056.00. Following the completion of the transaction, the director now directly owns 21,303 shares in the company, valued at approximately $946,066.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Karla Frieders sold 10,000 shares of the stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $44.91, for a total transaction of $449,100.00. Following the sale, the insider now owns 86,658 shares of the company’s stock, valued at approximately $3,891,810.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Rose Peabody Lynch sold 1,600 shares of Steven Madden stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $44.41, for a total value of $71,056.00. Following the transaction, the director now directly owns 21,303 shares of the company’s stock, valued at approximately $946,066.23. The disclosure for this sale can be found here. Insiders have sold a total of 14,600 shares of company stock valued at $651,586 over the last quarter. Company insiders own 2.08% of the company’s stock.

Steven Madden Trading Down 0.1 %

Steven Madden stock opened at $42.30 on Friday. The business’s 50 day simple moving average is $42.39 and its 200 day simple moving average is $42.06. Steven Madden, Ltd. has a 12 month low of $30.35 and a 12 month high of $45.91. The company has a market cap of $3.10 billion, a price-to-earnings ratio of 17.48 and a beta of 1.12.

Steven Madden (NASDAQ:SHOO) last issued its quarterly earnings results on Wednesday, May 1st. The textile maker reported $0.65 EPS for the quarter, beating 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 firm had revenue of $552.38 million for the quarter, compared to analysts’ expectations of $525.04 million. During the same quarter in the prior year, the firm earned $0.50 EPS. The business’s revenue for the quarter was up 19.1% compared to the same quarter last year. As a group, equities research analysts forecast that Steven Madden, Ltd. will post 2.62 earnings per share for the current fiscal year.

Steven Madden Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Monday, June 10th were paid a $0.21 dividend. The ex-dividend date of this dividend was Monday, June 10th. This represents a $0.84 annualized dividend and a dividend yield of 1.99%. Steven Madden’s payout ratio is 34.71%.

Steven Madden Company 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.