Russell Investments Group Ltd. Reduces Stock Position in Steven Madden, Ltd. (NASDAQ:SHOO)

Russell Investments Group Ltd. decreased its position in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 12.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,410 shares of the textile maker’s stock after selling 9,992 shares during the quarter. Russell Investments Group Ltd. owned 0.09% of Steven Madden worth $2,909,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of SHOO. R Squared Ltd acquired a new stake in shares of Steven Madden in the fourth quarter worth approximately $55,000. Blue Trust Inc. increased its holdings in shares of Steven Madden by 20.9% during 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 last quarter. KBC Group NV raised its position in shares of Steven Madden by 36.5% in the 4th quarter. KBC Group NV now owns 3,013 shares of the textile maker’s stock worth $128,000 after buying an additional 805 shares during the period. Smartleaf Asset Management LLC boosted its holdings 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 valued at $176,000 after acquiring an additional 741 shares during the last quarter. Finally, New Age Alpha Advisors LLC acquired a new position in Steven Madden in the fourth quarter valued at $177,000. Institutional investors and hedge funds own 99.88% of the company’s stock.

Analyst Ratings Changes

SHOO has been the topic of several research reports. Loop Capital cut their price target on shares of Steven Madden from $40.00 to $35.00 and set a “hold” rating on the stock in a report on Thursday, February 27th. StockNews.com downgraded shares of Steven Madden from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Steven Madden in a research report on Monday, February 3rd. Telsey Advisory Group cut their price objective on Steven Madden from $44.00 to $38.00 and set a “market perform” rating on the stock in a research report on Thursday, February 27th. Finally, Piper Sandler decreased their target price 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. 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, Steven Madden has a consensus rating of “Hold” and an average price target of $37.83.

Steven Madden Price Performance

Shares of NASDAQ SHOO opened at $19.90 on Friday. Steven Madden, Ltd. has a one year low of $19.05 and a one year high of $50.01. The business’s 50-day moving average price is $28.59 and its two-hundred day moving average price is $38.47. The company has a market capitalization of $1.44 billion, a P/E ratio of 8.47 and a beta of 0.98.

Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings results on Wednesday, February 26th. The textile maker reported $0.55 EPS for the quarter, beating the consensus estimate of $0.53 by $0.02. The business had revenue of $582.32 million during the quarter, compared to analysts’ expectations 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 anticipate that Steven Madden, Ltd. will post 2.66 EPS for the current year.

Steven Madden Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.22%. Steven Madden’s dividend payout ratio is currently 35.74%.

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.