Cibc World Markets Corp Purchases Shares of 6,784 Steven Madden, Ltd. (NASDAQ:SHOO)

Cibc World Markets Corp acquired a new position in Steven Madden, Ltd. (NASDAQ:SHOO) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 6,784 shares of the textile maker’s stock, valued at approximately $288,000.

Several other hedge funds have also recently made changes to their positions in SHOO. R Squared Ltd bought a new stake in Steven Madden in the fourth quarter valued at $55,000. Blue Trust Inc. lifted its position in shares of 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 purchasing an additional 339 shares during the period. KBC Group NV increased its position in shares of Steven Madden by 36.5% during the fourth 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 during the period. Smartleaf Asset Management LLC raised 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 worth $176,000 after buying an additional 741 shares in the last quarter. Finally, Central Pacific Bank Trust Division lifted its holdings in Steven Madden by 7.4% in the fourth quarter. Central Pacific Bank Trust Division now owns 4,202 shares of the textile maker’s stock worth $179,000 after buying an additional 290 shares during the period. 99.88% of the stock is owned by hedge funds and other institutional investors.

Steven Madden Stock Performance

NASDAQ:SHOO opened at $27.43 on Tuesday. The firm has a 50-day simple moving average of $35.34 and a two-hundred day simple moving average of $41.56. The firm has a market cap of $1.99 billion, a P/E ratio of 11.67 and a beta of 1.06. Steven Madden, Ltd. has a fifty-two week low of $24.56 and a fifty-two week high of $50.01.

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

Steven Madden Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Monday, March 10th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.84 annualized dividend and a dividend yield of 3.06%. Steven Madden’s dividend payout ratio (DPR) is presently 35.74%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on SHOO shares. Needham & Company LLC reiterated a “hold” rating on shares of Steven Madden in a report on Thursday, February 27th. Telsey Advisory Group decreased their price objective on Steven Madden from $44.00 to $38.00 and set a “market perform” rating for the company in a report on Thursday, February 27th. Piper Sandler lowered their price objective on Steven Madden from $45.00 to $40.00 and set a “neutral” rating for the company in a research report on Tuesday, February 4th. StockNews.com downgraded shares of Steven Madden from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Finally, Loop Capital lowered 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 report on Thursday, February 27th. Eight research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Steven Madden presently has a consensus rating of “Hold” and a consensus target price of $40.33.

About Steven Madden

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.