abrdn plc Takes Position in Steven Madden, Ltd. (NASDAQ:SHOO)

abrdn plc bought a new stake in Steven Madden, Ltd. (NASDAQ:SHOO) during the fourth quarter, Holdings Channel reports. The institutional investor bought 484,550 shares of the textile maker’s stock, valued at approximately $20,351,000.

A number of other institutional investors have also modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of Steven Madden by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 8,329,605 shares of the textile maker’s stock valued at $264,632,000 after acquiring an additional 80,199 shares during the period. Wellington Management Group LLP grew its position in Steven Madden by 5.3% in the 3rd quarter. Wellington Management Group LLP now owns 6,264,768 shares of the textile maker’s stock valued at $199,032,000 after buying an additional 316,676 shares during the last quarter. Pacer Advisors Inc. grew its position in Steven Madden by 30.7% in the 4th quarter. Pacer Advisors Inc. now owns 1,469,956 shares of the textile maker’s stock valued at $61,738,000 after buying an additional 345,558 shares during the last quarter. Victory Capital Management Inc. grew its position in Steven Madden by 52.9% in the 3rd quarter. Victory Capital Management Inc. now owns 1,319,809 shares of the textile maker’s stock valued at $41,930,000 after buying an additional 456,412 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in Steven Madden by 9.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,209,651 shares of the textile maker’s stock valued at $38,431,000 after buying an additional 108,359 shares during the last quarter. 99.88% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Edward R. Rosenfeld sold 48,500 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $41.49, for a total value of $2,012,265.00. Following the sale, the chief executive officer now directly owns 697,038 shares in the company, valued at approximately $28,920,106.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Peter Allan Davis sold 1,200 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $42.13, for a total value of $50,556.00. Following the completion of the transaction, the director now owns 5,751 shares of the company’s stock, valued at approximately $242,289.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Edward R. Rosenfeld sold 48,500 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $41.49, for a total transaction of $2,012,265.00. Following the completion of the transaction, the chief executive officer now directly owns 697,038 shares of the company’s stock, valued at approximately $28,920,106.62. The disclosure for this sale can be found here. Insiders have sold 59,346 shares of company stock worth $2,464,841 in the last three months. Corporate insiders own 2.01% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Williams Trading reiterated a “hold” rating and issued a $44.00 price objective on shares of Steven Madden in a research report on Wednesday, February 21st. Citigroup lifted their price objective on shares of Steven Madden from $41.00 to $43.00 and gave the company a “neutral” rating in a research report on Thursday, February 29th. Wedbush lifted their price objective on shares of Steven Madden from $36.00 to $38.00 and gave the company a “neutral” rating in a research report on Wednesday, February 7th. Telsey Advisory Group lifted their price objective on shares of Steven Madden from $39.00 to $44.00 and gave the company a “market perform” rating in a research report on Thursday, February 29th. Finally, Piper Sandler began coverage on shares of Steven Madden in a research report on Wednesday, February 14th. They set a “neutral” rating and a $45.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $41.38.

Steven Madden Stock Performance

Shares of NASDAQ SHOO opened at $40.44 on Wednesday. The firm has a market capitalization of $2.97 billion, a P/E ratio of 17.58 and a beta of 1.16. Steven Madden, Ltd. has a one year low of $29.92 and a one year high of $45.63. The company’s fifty day moving average is $41.61 and its two-hundred day moving average is $39.67.

Steven Madden (NASDAQ:SHOO) last issued its earnings results on Wednesday, February 28th. The textile maker reported $0.61 EPS for the quarter, topping the consensus estimate of $0.56 by $0.05. Steven Madden had a net margin of 8.67% and a return on equity of 21.61%. The company had revenue of $519.71 million for the quarter, compared to analyst estimates of $511.96 million. During the same period in the previous year, the firm earned $0.44 EPS. The business’s revenue was up 10.4% on a year-over-year basis. On average, sell-side analysts forecast that Steven Madden, Ltd. will post 2.61 earnings per share for the current fiscal year.

Steven Madden Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were given a $0.21 dividend. The ex-dividend date was Thursday, March 7th. This represents a $0.84 annualized dividend and a dividend yield of 2.08%. Steven Madden’s dividend payout ratio is presently 36.52%.

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.