Assenagon Asset Management S.A. Buys 78,672 Shares of Steven Madden, Ltd. (NASDAQ:SHOO)

Assenagon Asset Management S.A. raised its stake in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 278.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 106,972 shares of the textile maker’s stock after acquiring an additional 78,672 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.15% of Steven Madden worth $4,548,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Mackenzie Financial Corp lifted its holdings in shares of Steven Madden by 3.1% during the second quarter. Mackenzie Financial Corp now owns 8,232 shares of the textile maker’s stock valued at $348,000 after acquiring an additional 248 shares during the period. Central Pacific Bank Trust Division lifted its holdings in shares of Steven Madden by 7.4% during the fourth quarter. Central Pacific Bank Trust Division now owns 4,202 shares of the textile maker’s stock valued at $179,000 after acquiring an additional 290 shares during the period. Louisiana State Employees Retirement System raised its holdings in shares of Steven Madden by 1.2% in the third quarter. Louisiana State Employees Retirement System now owns 35,100 shares of the textile maker’s stock valued at $1,720,000 after buying an additional 400 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Steven Madden by 1.2% in the second quarter. The Manufacturers Life Insurance Company now owns 40,141 shares of the textile maker’s stock valued at $1,698,000 after buying an additional 484 shares during the last quarter. Finally, KBC Group NV raised its holdings in shares of Steven Madden by 34.1% in the third quarter. KBC Group NV now owns 2,208 shares of the textile maker’s stock valued at $108,000 after buying an additional 561 shares during the last quarter. 99.88% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on SHOO. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $50.00 price target on shares of Steven Madden in a report on Wednesday, November 13th. Needham & Company LLC reaffirmed a “hold” rating on shares of Steven Madden in a report on Thursday, December 5th. Citigroup lifted their price target on Steven Madden from $43.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Finally, StockNews.com cut Steven Madden from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $46.33.

Steven Madden Trading Up 0.8 %

Shares of NASDAQ:SHOO opened at $41.12 on Tuesday. The stock has a market capitalization of $2.97 billion, a P/E ratio of 17.50 and a beta of 1.08. Steven Madden, Ltd. has a 1-year low of $37.99 and a 1-year high of $50.01. The business has a 50-day moving average price of $43.02 and a two-hundred day moving average price of $44.43.

Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings data on Thursday, November 7th. The textile maker reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.02. The firm had revenue of $624.68 million during the quarter, compared to analysts’ expectations of $607.89 million. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. The company’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.88 EPS. As a group, equities analysts predict that Steven Madden, Ltd. will post 2.66 EPS for the current year.

Steven Madden Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were given a dividend of $0.21 per share. The ex-dividend date was Friday, December 13th. This represents a $0.84 annualized dividend and a dividend yield of 2.04%. Steven Madden’s payout ratio is currently 35.74%.

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.