Thrivent Financial for Lutherans Sells 36,399 Shares of Steven Madden, Ltd. (NASDAQ:SHOO)

Thrivent Financial for Lutherans lessened its holdings in Steven Madden, Ltd. (NASDAQ:SHOO) by 39.5% in the fourth quarter, Holdings Channel reports. The firm owned 55,800 shares of the textile maker’s stock after selling 36,399 shares during the period. Thrivent Financial for Lutherans’ holdings in Steven Madden were worth $2,373,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. R Squared Ltd purchased a new position in shares of Steven Madden in the 4th quarter worth about $55,000. Blue Trust Inc. raised its position in Steven Madden by 20.9% in the fourth quarter. Blue Trust Inc. now owns 1,958 shares of the textile maker’s stock worth $83,000 after acquiring an additional 339 shares during the period. KBC Group NV boosted its stake in Steven Madden by 36.5% in the fourth quarter. KBC Group NV now owns 3,013 shares of the textile maker’s stock valued at $128,000 after acquiring an additional 805 shares during the last quarter. 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 valued at $176,000 after acquiring an additional 741 shares during the last quarter. Finally, Central Pacific Bank Trust Division grew its position in shares of Steven Madden by 7.4% during the 4th quarter. Central Pacific Bank Trust Division now owns 4,202 shares of the textile maker’s stock valued at $179,000 after acquiring an additional 290 shares during the period. 99.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SHOO has been the topic of a number of research reports. StockNews.com cut shares of Steven Madden from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Loop Capital lowered their target price on Steven Madden from $40.00 to $35.00 and set a “hold” rating on the stock in a research note on Thursday, February 27th. Needham & Company LLC reiterated a “hold” rating on shares of Steven Madden in a research note on Thursday, February 27th. Telsey Advisory Group lowered their price objective on Steven Madden from $44.00 to $38.00 and set a “market perform” rating on the stock in a research note on Thursday, February 27th. Finally, Jefferies Financial Group reiterated a “hold” rating on shares of Steven Madden in a research report on Monday, February 3rd. Eight equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Steven Madden currently has an average rating of “Hold” and a consensus price target of $40.33.

Steven Madden Stock Down 1.0 %

SHOO stock opened at $27.10 on Friday. The stock has a 50-day simple moving average of $34.52 and a two-hundred day simple moving average of $41.25. Steven Madden, Ltd. has a twelve month low of $24.56 and a twelve month high of $50.01. The firm has a market capitalization of $1.96 billion, a PE ratio of 11.53 and a beta of 1.06.

Steven Madden (NASDAQ:SHOO) last issued its quarterly earnings data on Wednesday, February 26th. The textile maker reported $0.55 EPS for the quarter, beating the consensus estimate of $0.53 by $0.02. The company had revenue of $582.32 million during the quarter, compared to analysts’ expectations of $550.37 million. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. On average, equities research analysts anticipate that Steven Madden, Ltd. will post 2.66 EPS for the current fiscal year.

Steven Madden Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were issued a $0.21 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.84 annualized dividend and a dividend yield of 3.10%. Steven Madden’s payout ratio is currently 35.74%.

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.