Steven Madden, Ltd. $SHOO Shares Sold by CX Institutional

CX Institutional cut its holdings in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 13.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 280,304 shares of the textile maker’s stock after selling 43,914 shares during the quarter. CX Institutional’s holdings in Steven Madden were worth $11,672,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Public Employees Retirement System of Ohio boosted its position in Steven Madden by 13.9% during the third quarter. Public Employees Retirement System of Ohio now owns 2,324 shares of the textile maker’s stock worth $78,000 after acquiring an additional 283 shares during the last quarter. First Horizon Corp raised its stake in Steven Madden by 55.1% during the fourth quarter. First Horizon Corp now owns 892 shares of the textile maker’s stock worth $37,000 after purchasing an additional 317 shares during the period. Thrivent Financial for Lutherans raised its stake in Steven Madden by 0.7% during the second quarter. Thrivent Financial for Lutherans now owns 53,404 shares of the textile maker’s stock worth $1,281,000 after purchasing an additional 378 shares during the period. GAMMA Investing LLC raised its stake in Steven Madden by 4.1% during the fourth quarter. GAMMA Investing LLC now owns 10,076 shares of the textile maker’s stock worth $420,000 after purchasing an additional 396 shares during the period. Finally, Farther Finance Advisors LLC raised its stake in Steven Madden by 79.4% during the fourth quarter. Farther Finance Advisors LLC now owns 983 shares of the textile maker’s stock worth $41,000 after purchasing an additional 435 shares during the period. 99.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SHOO has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Steven Madden in a research note on Tuesday, April 21st. Williams Trading set a $48.00 target price on shares of Steven Madden in a research note on Tuesday, March 10th. BTIG Research reaffirmed a “buy” rating and set a $50.00 target price on shares of Steven Madden in a research note on Thursday. Telsey Advisory Group reaffirmed an “outperform” rating and set a $50.00 target price on shares of Steven Madden in a research note on Thursday, February 26th. Finally, Jefferies Financial Group downgraded shares of Steven Madden from a “hold” rating to an “underperform” rating and set a $30.00 target price on the stock. in a research note on Thursday, February 5th. Five research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $43.75.

Insider Activity

In other news, Director Arian Simone Reed sold 3,600 shares of the business’s stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $33.44, for a total value of $120,384.00. Following the sale, the director directly owned 8,705 shares of the company’s stock, valued at approximately $291,095.20. The trade was a 29.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.21% of the company’s stock.

Steven Madden Price Performance

Steven Madden stock opened at $37.50 on Friday. The company’s 50 day simple moving average is $35.71 and its 200-day simple moving average is $38.88. The company has a market capitalization of $2.74 billion, a price-to-earnings ratio of 60.48 and a beta of 1.12. Steven Madden, Ltd. has a 1 year low of $19.75 and a 1 year high of $46.88. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.11 and a current ratio of 1.90.

Steven Madden (NASDAQ:SHOO) last released its quarterly earnings results on Wednesday, February 25th. The textile maker reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.02. The business had revenue of $753.70 million for the quarter, compared to the consensus estimate of $758.53 million. Steven Madden had a net margin of 1.76% and a return on equity of 13.60%. The business’s revenue was up 29.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.55 EPS. As a group, equities research analysts expect that Steven Madden, Ltd. will post 2.09 earnings per share for the current year.

Steven Madden Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 20th. Stockholders of record on Wednesday, March 11th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Wednesday, March 11th. Steven Madden’s payout ratio is 135.48%.

Steven Madden Company Profile

Steven Madden, Inc (NASDAQ: SHOO) is a New York–based designer and marketer of fashion footwear, handbags and accessories. The company’s product portfolio spans a range of contemporary and lifestyle brands for women, men and children, including its core Steve Madden label as well as the Madden Girl and Dolce Vita brands. In addition to footwear, the company licenses its trademarks for use on apparel, eyewear and other fashion accessories.

Steven Madden distributes its products through multiple channels, including wholesale partners, e-commerce platforms and its own brick-and-mortar retail stores.