Steven Madden, Ltd. (NASDAQ:SHOO) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. trimmed its stake in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 1.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,241,420 shares of the textile maker’s stock after selling 88,185 shares during the quarter. Vanguard Group Inc. owned about 11.14% of Steven Madden worth $346,140,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in SHOO. Wellington Management Group LLP raised its holdings in Steven Madden by 5.3% during the third quarter. Wellington Management Group LLP now owns 6,264,768 shares of the textile maker’s stock worth $199,032,000 after purchasing an additional 316,676 shares in the last quarter. Pacer Advisors Inc. grew its holdings in Steven Madden by 30.7% during the fourth quarter. Pacer Advisors Inc. now owns 1,469,956 shares of the textile maker’s stock worth $61,738,000 after acquiring an additional 345,558 shares during the period. Victory Capital Management Inc. lifted its holdings in Steven Madden by 10.3% in the 4th quarter. Victory Capital Management Inc. now owns 1,455,980 shares of the textile maker’s stock valued at $61,151,000 after acquiring an additional 136,171 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Steven Madden by 2.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,024,238 shares of the textile maker’s stock valued at $43,018,000 after purchasing an additional 26,177 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in shares of Steven Madden by 67.8% in the 3rd quarter. American Century Companies Inc. now owns 678,183 shares of the textile maker’s stock worth $21,546,000 after purchasing an additional 274,123 shares during the last quarter. 99.88% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Steven Madden news, Director Rose Peabody Lynch sold 1,600 shares of the company’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $44.41, for a total value of $71,056.00. Following the transaction, the director now directly owns 21,303 shares of the company’s stock, valued at approximately $946,066.23. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Rose Peabody Lynch sold 1,600 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $44.41, for a total value of $71,056.00. Following the completion of the sale, the director now owns 21,303 shares of the company’s stock, valued at approximately $946,066.23. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Karla Frieders sold 10,000 shares of Steven Madden stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $44.91, for a total transaction of $449,100.00. Following the completion of the sale, the insider now owns 86,658 shares of the company’s stock, valued at $3,891,810.78. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,600 shares of company stock worth $651,586. Corporate insiders own 2.08% of the company’s stock.

Wall Street Analyst Weigh In

SHOO has been the subject of several recent research reports. Wedbush reissued a “neutral” rating and set a $41.00 target price on shares of Steven Madden in a research note on Friday, May 17th. Telsey Advisory Group reiterated a “market perform” rating and set a $44.00 price objective on shares of Steven Madden in a research report on Friday, April 26th. Finally, BTIG Research lifted their target price on Steven Madden from $50.00 to $53.00 and gave the stock a “buy” rating in a report on Thursday, June 6th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Steven Madden currently has a consensus rating of “Hold” and an average target price of $43.38.

Steven Madden Trading Down 0.1 %

Shares of Steven Madden stock opened at $42.30 on Friday. Steven Madden, Ltd. has a 1 year low of $30.35 and a 1 year high of $45.91. The company has a market cap of $3.10 billion, a P/E ratio of 17.48 and a beta of 1.12. The stock has a 50-day moving average price of $42.39 and a 200 day moving average price of $42.06.

Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings results on Wednesday, May 1st. The textile maker reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.09. Steven Madden had a net margin of 8.65% and a return on equity of 22.68%. The business had revenue of $552.38 million during the quarter, compared to analyst estimates of $525.04 million. During the same period in the prior year, the firm earned $0.50 earnings per share. The firm’s revenue was up 19.1% compared to the same quarter last year. On average, equities analysts forecast that Steven Madden, Ltd. will post 2.62 earnings per share for the current fiscal year.

Steven Madden Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Monday, June 10th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date was Monday, June 10th. Steven Madden’s dividend payout ratio (DPR) is presently 34.71%.

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.