Steven Madden, Ltd. (NASDAQ:SHOO) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue cut its holdings in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 1.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 41,028 shares of the textile maker’s stock after selling 411 shares during the quarter. State of Alaska Department of Revenue owned about 0.06% of Steven Madden worth $1,744,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Gladius Capital Management LP purchased a new stake in shares of Steven Madden in the third quarter valued at approximately $36,000. R Squared Ltd acquired a new position in Steven Madden during the fourth quarter worth $55,000. Exchange Traded Concepts LLC purchased a new stake in Steven Madden in the 3rd quarter valued at $59,000. GAMMA Investing LLC increased its stake in shares of Steven Madden by 80.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,329 shares of the textile maker’s stock worth $65,000 after acquiring an additional 593 shares during the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of Steven Madden by 94.1% during the 3rd quarter. Blue Trust Inc. now owns 1,619 shares of the textile maker’s stock worth $79,000 after acquiring an additional 785 shares during the period. Institutional investors and hedge funds own 99.88% of the company’s stock.

Steven Madden Stock Up 1.4 %

SHOO opened at $38.24 on Wednesday. Steven Madden, Ltd. has a 52 week low of $36.40 and a 52 week high of $50.01. The business has a fifty day simple moving average of $41.65 and a 200-day simple moving average of $44.00. The firm has a market cap of $2.76 billion, a P/E ratio of 16.27 and a beta of 1.07.

Steven Madden Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend was Friday, December 13th. Steven Madden’s dividend payout ratio (DPR) is 35.74%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Citigroup cut their price objective on shares of Steven Madden from $45.00 to $38.00 and set a “neutral” rating for the company in a research report on Tuesday, February 4th. Telsey Advisory Group cut their price target on shares of Steven Madden from $50.00 to $44.00 and set a “market perform” rating for the company in a report on Tuesday, February 4th. Piper Sandler decreased their price objective on Steven Madden from $45.00 to $40.00 and set a “neutral” rating on the stock in a report on Tuesday, February 4th. Needham & Company LLC reissued a “hold” rating on shares of Steven Madden in a research note on Thursday, February 6th. Finally, StockNews.com downgraded Steven Madden from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $43.33.

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.