Nisa Investment Advisors LLC Cuts Stock Position in Steven Madden, Ltd. (NASDAQ:SHOO)

Nisa Investment Advisors LLC reduced its position in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 47.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 2,133 shares of the textile maker’s stock after selling 1,919 shares during the period. Nisa Investment Advisors LLC’s holdings in Steven Madden were worth $104,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Seven Eight Capital LP lifted its position in Steven Madden by 902.5% during the 1st quarter. Seven Eight Capital LP now owns 49,265 shares of the textile maker’s stock worth $2,083,000 after acquiring an additional 44,351 shares during the period. Harbor Capital Advisors Inc. lifted its holdings in Steven Madden by 273.4% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 48,840 shares of the textile maker’s stock valued at $2,066,000 after purchasing an additional 35,761 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of Steven Madden in the first quarter valued at $1,968,000. Magnetar Financial LLC purchased a new position in Steven Madden during the first quarter worth approximately $876,000. Finally, Jane Street Group LLC grew its holdings in shares of Steven Madden by 36.9% during the 1st quarter. Jane Street Group LLC now owns 183,423 shares of the textile maker’s stock worth $7,755,000 after purchasing an additional 49,432 shares during the period. Institutional investors and hedge funds own 99.88% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on SHOO. Wedbush restated a “neutral” rating and issued a $41.00 target price on shares of Steven Madden in a research note on Wednesday, August 7th. Telsey Advisory Group restated a “market perform” rating and issued a $50.00 target price on shares of Steven Madden in a research report on Thursday. StockNews.com upgraded shares of Steven Madden from a “hold” rating to a “buy” rating in a research note on Wednesday, September 18th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $45.00 price target on shares of Steven Madden in a report on Friday, August 23rd. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $45.14.

Steven Madden Stock Performance

NASDAQ SHOO opened at $45.60 on Friday. The firm has a 50-day simple moving average of $46.42 and a 200 day simple moving average of $44.13. The stock has a market cap of $3.31 billion, a PE ratio of 18.61 and a beta of 1.08. Steven Madden, Ltd. has a twelve month low of $32.65 and a twelve month high of $50.01.

Steven Madden Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Friday, September 13th were paid a dividend of $0.21 per share. The ex-dividend date was Friday, September 13th. This represents a $0.84 dividend on an annualized basis and a yield of 1.84%. Steven Madden’s dividend payout ratio is currently 34.29%.

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.