Nisa Investment Advisors LLC Sells 1,919 Shares of Steven Madden, Ltd. (NASDAQ:SHOO)

Nisa Investment Advisors LLC lessened its holdings in Steven Madden, Ltd. (NASDAQ:SHOO) by 47.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,133 shares of the textile maker’s stock after selling 1,919 shares during the period. Nisa Investment Advisors LLC’s holdings in Steven Madden were worth $104,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Blue Trust Inc. lifted its stake in Steven Madden by 9,166.7% in the second quarter. Blue Trust Inc. now owns 834 shares of the textile maker’s stock worth $35,000 after purchasing an additional 825 shares during the last quarter. Exchange Traded Concepts LLC bought a new position in Steven Madden in the third quarter worth approximately $59,000. GAMMA Investing LLC boosted its position in Steven Madden by 80.6% during the third quarter. GAMMA Investing LLC now owns 1,329 shares of the textile maker’s stock valued at $65,000 after purchasing an additional 593 shares in the last quarter. EntryPoint Capital LLC purchased a new stake in Steven Madden during the first quarter valued at approximately $81,000. Finally, International Assets Investment Management LLC grew its stake in Steven Madden by 4,800.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,911 shares of the textile maker’s stock worth $94,000 after buying an additional 1,872 shares during the last quarter. 99.88% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SHOO. Wedbush reiterated a “neutral” rating and set a $41.00 price objective on shares of Steven Madden in a research note on Wednesday, August 7th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $50.00 price target on shares of Steven Madden in a report on Thursday. Piper Sandler restated a “neutral” rating and set a $45.00 price target on shares of Steven Madden in a research report on Friday, August 23rd. Finally, StockNews.com upgraded shares of Steven Madden from a “hold” rating to a “buy” rating in a research report on Wednesday, September 18th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Steven Madden currently has an average rating of “Hold” and an average target price of $45.14.

Steven Madden Stock Up 3.1 %

NASDAQ:SHOO opened at $45.60 on Friday. Steven Madden, Ltd. has a 52 week low of $32.65 and a 52 week high of $50.01. The company has a market capitalization of $3.31 billion, a P/E ratio of 18.61 and a beta of 1.08. The stock’s fifty day moving average is $46.42 and its two-hundred day moving average is $44.13.

Steven Madden Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Friday, September 13th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.84%. Steven Madden’s payout ratio is currently 34.29%.

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.