Principal Financial Group Inc. Has $16.21 Million Stock Position in Steven Madden, Ltd. (NASDAQ:SHOO)

Principal Financial Group Inc. boosted its holdings in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 3.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 381,196 shares of the textile maker’s stock after acquiring an additional 11,602 shares during the quarter. Principal Financial Group Inc.’s holdings in Steven Madden were worth $16,208,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Gladius Capital Management LP acquired a new stake in Steven Madden during the third quarter worth $36,000. R Squared Ltd acquired a new stake in Steven Madden during the fourth quarter worth $55,000. Blue Trust Inc. boosted its stake in Steven Madden by 94.1% during the third quarter. Blue Trust Inc. now owns 1,619 shares of the textile maker’s stock worth $79,000 after buying an additional 785 shares in the last quarter. International Assets Investment Management LLC boosted its stake in Steven Madden by 4,800.0% during the third 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 in the last quarter. Finally, KBC Group NV boosted its stake in Steven Madden by 34.1% during the third quarter. KBC Group NV now owns 2,208 shares of the textile maker’s stock worth $108,000 after buying an additional 561 shares in the last quarter. Institutional investors and hedge funds own 99.88% of the company’s stock.

Steven Madden Stock Down 1.7 %

Steven Madden stock opened at $37.89 on Wednesday. The stock has a 50-day simple moving average of $40.62 and a 200 day simple moving average of $43.70. Steven Madden, Ltd. has a 12-month low of $36.40 and a 12-month high of $50.01. The stock has a market capitalization of $2.74 billion, a price-to-earnings ratio of 16.12 and a beta of 1.07.

Steven Madden Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were issued a $0.21 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.22%. Steven Madden’s dividend payout ratio is 35.74%.

Analysts Set New Price Targets

A number of research firms have weighed in on SHOO. StockNews.com downgraded shares of Steven Madden from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Citigroup cut their price objective on Steven Madden from $45.00 to $38.00 and set a “neutral” rating for the company in a report on Tuesday, February 4th. Needham & Company LLC reissued a “hold” rating on shares of Steven Madden in a report on Thursday, February 13th. Jefferies Financial Group reissued a “hold” rating on shares of Steven Madden in a report on Monday, February 3rd. Finally, Telsey Advisory Group reissued a “market perform” rating and set a $44.00 price objective on shares of Steven Madden in a report on Friday, February 14th. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $43.20.

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.