Steven Madden, Ltd. (NASDAQ:SHOO) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lowered its stake in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 2.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 37,730 shares of the textile maker’s stock after selling 1,066 shares during the period. The Manufacturers Life Insurance Company owned 0.05% of Steven Madden worth $1,604,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in SHOO. Barclays PLC boosted its stake in Steven Madden by 286.9% in the 3rd quarter. Barclays PLC now owns 139,206 shares of the textile maker’s stock worth $6,819,000 after buying an additional 103,226 shares during the last quarter. Moody National Bank Trust Division lifted its stake in shares of Steven Madden by 21.3% in the 4th quarter. Moody National Bank Trust Division now owns 11,983 shares of the textile maker’s stock valued at $510,000 after purchasing an additional 2,107 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Steven Madden by 278.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 106,972 shares of the textile maker’s stock valued at $4,548,000 after buying an additional 78,672 shares during the period. Hennion & Walsh Asset Management Inc. raised its holdings in shares of Steven Madden by 75.2% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 7,323 shares of the textile maker’s stock valued at $311,000 after buying an additional 3,143 shares during the period. Finally, Fort Washington Investment Advisors Inc. OH raised its holdings in shares of Steven Madden by 8.2% during the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 462,786 shares of the textile maker’s stock valued at $19,678,000 after buying an additional 35,140 shares during the period. 99.88% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on SHOO shares. Needham & Company LLC reiterated a “hold” rating on shares of Steven Madden in a report on Friday, May 2nd. StockNews.com downgraded Steven Madden from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Telsey Advisory Group reissued a “market perform” rating and set a $24.00 price target on shares of Steven Madden in a research report on Thursday. Citigroup dropped their price target on Steven Madden from $35.00 to $23.00 and set a “neutral” rating on the stock in a research report on Thursday, May 1st. Finally, Loop Capital dropped their price target 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. Nine research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $32.00.

Steven Madden Price Performance

Shares of SHOO opened at $22.98 on Monday. The company has a market cap of $1.67 billion, a P/E ratio of 9.78 and a beta of 1.04. The stock has a fifty day moving average price of $23.61 and a 200 day moving average price of $35.39. Steven Madden, Ltd. has a 12 month low of $19.05 and a 12 month high of $50.01.

Steven Madden (NASDAQ:SHOO) last issued its quarterly earnings data on Wednesday, May 7th. The textile maker reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.14. The firm had revenue of $551.38 million during the quarter, compared to the consensus estimate of $557.81 million. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. The firm’s revenue was up .2% on a year-over-year basis. During the same period in the prior year, the business earned $0.65 EPS. As a group, research analysts anticipate that Steven Madden, Ltd. will post 2.66 earnings per share for the current year.

Steven Madden Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Monday, June 9th will be paid a $0.21 dividend. The ex-dividend date is Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 3.66%. Steven Madden’s payout ratio is 36.21%.

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.