HighTower Advisors LLC Raises Stock Holdings in Steven Madden, Ltd. (NASDAQ:SHOO)

HighTower Advisors LLC boosted its holdings in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 11.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,439 shares of the textile maker’s stock after acquiring an additional 676 shares during the quarter. HighTower Advisors LLC’s holdings in Steven Madden were worth $274,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. R Squared Ltd bought a new stake in shares of Steven Madden during the fourth quarter worth $55,000. Blue Trust Inc. increased its stake in 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 buying an additional 339 shares during the period. KBC Group NV lifted its holdings in 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. Smartleaf Asset Management LLC lifted its holdings in Steven Madden by 21.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 4,171 shares of the textile maker’s stock valued at $176,000 after buying an additional 741 shares in the last quarter. Finally, Central Pacific Bank Trust Division boosted its position in Steven Madden by 7.4% in the 4th quarter. Central Pacific Bank Trust Division now owns 4,202 shares of the textile maker’s stock valued at $179,000 after buying an additional 290 shares during the period. Institutional investors own 99.88% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on SHOO shares. Loop Capital decreased their price target on shares of Steven Madden from $40.00 to $35.00 and set a “hold” rating for the company in a research note on Thursday, February 27th. StockNews.com lowered Steven Madden from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Citigroup lowered their target price on Steven Madden from $38.00 to $35.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. Piper Sandler cut their price target on Steven Madden from $45.00 to $40.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 4th. Finally, Jefferies Financial Group reaffirmed a “hold” rating on shares of Steven Madden in a research note on Monday, February 3rd. Eight equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $40.33.

Steven Madden Trading Up 3.1 %

Shares of NASDAQ SHOO opened at $28.28 on Thursday. The stock has a market capitalization of $2.05 billion, a PE ratio of 12.03 and a beta of 1.06. Steven Madden, Ltd. has a 12-month low of $24.56 and a 12-month high of $50.01. The stock’s fifty day simple moving average is $33.37 and its two-hundred day simple moving average is $40.76.

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

Steven Madden Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Monday, March 10th were paid a dividend of $0.21 per share. The ex-dividend date was Monday, March 10th. This represents a $0.84 annualized dividend and a dividend yield of 2.97%. Steven Madden’s dividend payout ratio (DPR) is presently 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.