Macquarie Group Ltd. lifted its position in Steven Madden, Ltd. (NASDAQ:SHOO) by 11.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,713,069 shares of the textile maker’s stock after purchasing an additional 269,647 shares during the quarter. Macquarie Group Ltd. owned about 4.59% of Steven Madden worth $126,700,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Wolverine Trading LLC grew its position in Steven Madden by 311.2% in the fourth quarter. Wolverine Trading LLC now owns 4,523 shares of the textile maker’s stock worth $211,000 after acquiring an additional 3,423 shares in the last quarter. Public Employees Retirement System of Ohio grew its position in Steven Madden by 9.1% in the second quarter. Public Employees Retirement System of Ohio now owns 4,990 shares of the textile maker’s stock worth $199,000 after acquiring an additional 415 shares in the last quarter. Sawgrass Asset Management LLC purchased a new position in Steven Madden in the third quarter worth about $238,000. Jefferies Group LLC purchased a new position in Steven Madden in the fourth quarter worth about $261,000. Finally, Boothbay Fund Management LLC purchased a new position in Steven Madden in the third quarter worth about $242,000. 95.52% of the stock is currently owned by hedge funds and other institutional investors.
Steven Madden, Ltd. (SHOO) opened at $45.25 on Friday. Steven Madden, Ltd. has a 12-month low of $35.55 and a 12-month high of $49.28. The stock has a market capitalization of $2,645.19, a P/E ratio of 20.18, a price-to-earnings-growth ratio of 1.44 and a beta of 0.45.
Steven Madden (NASDAQ:SHOO) last announced its earnings results on Tuesday, February 27th. The textile maker reported $0.48 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.48. Steven Madden had a return on equity of 16.68% and a net margin of 7.63%. The business had revenue of $364.40 million during the quarter, compared to analyst estimates of $360.27 million. During the same quarter in the previous year, the business earned $0.49 earnings per share. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. analysts forecast that Steven Madden, Ltd. will post 2.67 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Monday, March 12th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, March 9th. This represents a $0.80 annualized dividend and a dividend yield of 1.77%. Steven Madden’s dividend payout ratio (DPR) is presently 39.02%.
Several research firms recently commented on SHOO. BidaskClub upgraded Steven Madden from a “sell” rating to a “hold” rating in a research report on Thursday, March 8th. B. Riley reiterated a “buy” rating on shares of Steven Madden in a research report on Wednesday, February 28th. Canaccord Genuity set a $52.00 price target on Steven Madden and gave the stock a “buy” rating in a research report on Tuesday, February 27th. Zacks Investment Research lowered Steven Madden from a “buy” rating to a “hold” rating in a research report on Saturday, February 24th. Finally, Citigroup restated a “buy” rating and set a $56.00 target price on shares of Steven Madden in a research report on Tuesday, January 16th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Steven Madden has an average rating of “Buy” and a consensus target price of $49.29.
In related news, COO Awadhesh K. Sinha sold 6,500 shares of the business’s stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $45.03, for a total value of $292,695.00. Following the completion of the sale, the chief operating officer now owns 63,383 shares in the company, valued at $2,854,136.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.06% of the stock is owned by insiders.
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About Steven Madden
Steven Madden, Ltd. and its subsidiaries design, source, market and sell name brand and private label footwear for women, men and children, and name brand and private label fashion handbags and accessories. The Company operates through five segments: Wholesale Footwear, Wholesale Accessories, Retail, First Cost and Licensing.
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