Schroder Investment Management Group Cuts Stock Holdings in Steven Madden, Ltd. (NASDAQ:SHOO)

Schroder Investment Management Group lessened its holdings in Steven Madden, Ltd. (NASDAQ:SHOO) by 75.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 61,202 shares of the textile maker’s stock after selling 185,941 shares during the period. Schroder Investment Management Group’s holdings in Steven Madden were worth $2,585,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SHOO. Central Pacific Bank Trust Division grew its stake in Steven Madden by 7.4% in the fourth quarter. Central Pacific Bank Trust Division now owns 4,202 shares of the textile maker’s stock valued at $179,000 after purchasing an additional 290 shares during the last quarter. Moran Wealth Management LLC grew its position in shares of Steven Madden by 1.6% in the 4th quarter. Moran Wealth Management LLC now owns 21,126 shares of the textile maker’s stock worth $898,000 after buying an additional 325 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Steven Madden by 20.9% during the 4th quarter. Blue Trust Inc. now owns 1,958 shares of the textile maker’s stock worth $83,000 after acquiring an additional 339 shares in the last quarter. Xponance Inc. lifted its position in Steven Madden by 12.3% during the fourth quarter. Xponance Inc. now owns 5,320 shares of the textile maker’s stock valued at $226,000 after acquiring an additional 584 shares during the last quarter. Finally, New York State Teachers Retirement System boosted its stake in Steven Madden by 0.8% in the fourth quarter. New York State Teachers Retirement System now owns 79,672 shares of the textile maker’s stock valued at $3,388,000 after acquiring an additional 652 shares in the last quarter. 99.88% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Telsey Advisory Group reduced their price target on Steven Madden from $44.00 to $38.00 and set a “market perform” rating on the stock in a research report on Thursday, February 27th. Piper Sandler decreased 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. Citigroup dropped their price target on Steven Madden from $38.00 to $35.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. StockNews.com cut shares of Steven Madden from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Finally, Jefferies Financial Group restated a “hold” rating on shares of Steven Madden in a research note on Monday, February 3rd. Eight equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $40.33.

Steven Madden Price Performance

SHOO stock opened at $24.10 on Monday. The firm’s fifty day simple moving average is $32.66 and its 200-day simple moving average is $40.39. Steven Madden, Ltd. has a 12 month low of $22.24 and a 12 month high of $50.01. The company has a market capitalization of $1.74 billion, a P/E ratio of 10.26 and a beta of 0.98.

Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings results on Wednesday, February 26th. The textile maker reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.02. The company had revenue of $582.32 million for the quarter, compared to the consensus estimate of $550.37 million. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. As a group, sell-side analysts forecast that Steven Madden, Ltd. will post 2.66 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 21st. Shareholders of record on Monday, March 10th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date of this dividend was Monday, March 10th. Steven Madden’s payout ratio is presently 35.74%.

About Steven Madden

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.