Envestnet Asset Management Inc. Raises Position in Steven Madden, Ltd. (NASDAQ:SHOO)

Envestnet Asset Management Inc. boosted its holdings in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 3.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 22,198 shares of the textile maker’s stock after purchasing an additional 804 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Steven Madden were worth $944,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in SHOO. R Squared Ltd bought a new stake in shares of Steven Madden in the 4th quarter worth approximately $55,000. Blue Trust Inc. raised its stake 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 buying an additional 339 shares in the last quarter. KBC Group NV raised its position in Steven Madden by 36.5% in the fourth quarter. KBC Group NV now owns 3,013 shares of the textile maker’s stock worth $128,000 after acquiring an additional 805 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in Steven Madden by 21.6% in the 4th 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, New Age Alpha Advisors LLC acquired a new stake in Steven Madden in the 4th quarter valued at about $177,000. 99.88% of the stock is currently owned by institutional investors.

Steven Madden Trading Down 0.5 %

Shares of Steven Madden stock opened at $20.89 on Friday. The firm’s 50-day moving average price is $24.94 and its two-hundred day moving average price is $36.59. Steven Madden, Ltd. has a 1-year low of $19.05 and a 1-year high of $50.01. The stock has a market capitalization of $1.52 billion, a price-to-earnings ratio of 8.89 and a beta of 0.98.

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

Steven Madden Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Monday, March 10th were given a $0.21 dividend. The ex-dividend date was Monday, March 10th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.02%. Steven Madden’s dividend payout ratio is 35.74%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. UBS Group reduced their price objective on Steven Madden from $24.00 to $22.00 and set a “neutral” rating for the company in a research note on Wednesday, April 23rd. Loop Capital dropped their target price on Steven Madden from $40.00 to $35.00 and set a “hold” rating on the stock in a research report on Thursday, February 27th. Jefferies Financial Group reissued a “hold” rating on shares of Steven Madden in a research note on Monday, February 3rd. Piper Sandler cut their price objective on Steven Madden from $35.00 to $25.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Finally, StockNews.com lowered shares of Steven Madden from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Nine investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $31.86.

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.