Steven Madden, Ltd. (NASDAQ:SHOO) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP decreased its holdings in Steven Madden, Ltd. (NASDAQ:SHOO) by 0.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,718,033 shares of the textile maker’s stock after selling 31,603 shares during the quarter. Wellington Management Group LLP owned approximately 6.52% of Steven Madden worth $200,611,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Arrowstreet Capital Limited Partnership boosted its position in shares of Steven Madden by 8.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 527,351 shares of the textile maker’s stock worth $22,423,000 after acquiring an additional 40,750 shares during the last quarter. Pictet Asset Management Holding SA grew its stake in shares of Steven Madden by 17.9% during the 4th quarter. Pictet Asset Management Holding SA now owns 10,503 shares of the textile maker’s stock valued at $447,000 after buying an additional 1,594 shares during the period. New Age Alpha Advisors LLC purchased a new stake in shares of Steven Madden during the 4th quarter valued at $177,000. Norges Bank purchased a new position in shares of Steven Madden in the 4th quarter worth $9,399,000. Finally, JPMorgan Chase & Co. raised its position in shares of Steven Madden by 26.4% in the 4th quarter. JPMorgan Chase & Co. now owns 584,068 shares of the textile maker’s stock worth $24,835,000 after buying an additional 121,972 shares during the period. Hedge funds and other institutional investors own 99.88% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Piper Sandler dropped their price target on Steven Madden from $45.00 to $40.00 and set a “neutral” rating for the company in a research note on Tuesday, February 4th. StockNews.com cut shares of Steven Madden from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Jefferies Financial Group reissued a “hold” rating on shares of Steven Madden in a research report on Monday, February 3rd. Citigroup reduced their target price on shares of Steven Madden from $38.00 to $35.00 and set a “neutral” rating on the stock in a report on Thursday, February 27th. Finally, Telsey Advisory Group lowered their price target on Steven Madden from $44.00 to $38.00 and set a “market perform” rating for the company in a report on Thursday, February 27th. Eight research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $40.33.

Steven Madden Price Performance

Shares of SHOO stock opened at $28.28 on Thursday. The company’s fifty day moving average price is $33.37 and its two-hundred day moving average price is $40.76. The firm has a market capitalization of $2.05 billion, a P/E ratio of 12.03 and a beta of 1.06. Steven Madden, Ltd. has a 12 month low of $24.56 and a 12 month high of $50.01.

Steven Madden (NASDAQ:SHOO) last released its quarterly earnings results on Wednesday, February 26th. The textile maker reported $0.55 EPS for the quarter, topping the consensus estimate of $0.53 by $0.02. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. The business had revenue of $582.32 million for the quarter, compared to analysts’ expectations of $550.37 million. On average, sell-side analysts anticipate that Steven Madden, Ltd. will post 2.66 EPS for the current year.

Steven Madden Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date was Monday, March 10th. Steven Madden’s 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.