Steven Madden, Ltd. (NASDAQ:SHOO) Stock Position Lowered by Wells Fargo & Company MN

Wells Fargo & Company MN trimmed its position in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 7.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 89,354 shares of the textile maker’s stock after selling 6,988 shares during the period. Wells Fargo & Company MN’s holdings in Steven Madden were worth $3,799,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Central Pacific Bank Trust Division raised its position in Steven Madden by 7.4% during the fourth 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. Moran Wealth Management LLC increased its holdings in shares of Steven Madden by 1.6% in the 4th quarter. Moran Wealth Management LLC now owns 21,126 shares of the textile maker’s stock valued at $898,000 after purchasing an additional 325 shares during the period. Blue Trust Inc. lifted its position in shares of 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 purchasing an additional 339 shares in the last quarter. Xponance Inc. boosted its holdings in shares of Steven Madden by 12.3% during the fourth quarter. Xponance Inc. now owns 5,320 shares of the textile maker’s stock worth $226,000 after purchasing an additional 584 shares during the period. Finally, New York State Teachers Retirement System increased its stake in Steven Madden by 0.8% in the 4th quarter. New York State Teachers Retirement System now owns 79,672 shares of the textile maker’s stock valued at $3,388,000 after buying an additional 652 shares during the period. 99.88% of the stock is owned by institutional investors and hedge funds.

Steven Madden Price Performance

Steven Madden stock opened at $19.99 on Tuesday. Steven Madden, Ltd. has a fifty-two week low of $19.05 and a fifty-two week high of $50.01. The firm has a fifty day moving average price of $27.87 and a two-hundred day moving average price of $37.92. The firm has a market cap of $1.45 billion, a price-to-earnings ratio of 8.51 and a beta of 0.98.

Steven Madden (NASDAQ:SHOO) last announced its earnings results on Wednesday, February 26th. The textile maker reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.02. The firm had revenue of $582.32 million during 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%. As a group, sell-side analysts expect that Steven Madden, Ltd. will post 2.66 earnings per share for the current year.

Steven Madden Dividend Announcement

The business also recently announced 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. This represents a $0.84 annualized dividend and a yield of 4.20%. The ex-dividend date of this dividend was Monday, March 10th. Steven Madden’s payout ratio is currently 35.74%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on SHOO shares. Loop Capital dropped their price target on shares of 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 reaffirmed a “hold” rating on shares of Steven Madden in a research report on Thursday, February 27th. StockNews.com downgraded Steven Madden from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Citigroup lowered their price target on Steven Madden from $38.00 to $35.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. Finally, Piper Sandler reduced their target price on shares of Steven Madden from $35.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Eight investment 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 currently has a consensus rating of “Hold” and a consensus price target of $37.83.

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.