Bank of New York Mellon Corp Buys 17,173 Shares of Steven Madden, Ltd. (NASDAQ:SHOO)

Bank of New York Mellon Corp increased its stake in Steven Madden, Ltd. (NASDAQ:SHOO) by 2.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 837,865 shares of the textile maker’s stock after purchasing an additional 17,173 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.16% of Steven Madden worth $35,626,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Y Intercept Hong Kong Ltd bought a new stake in Steven Madden during the fourth quarter valued at about $831,000. Hussman Strategic Advisors Inc. purchased a new position in shares of Steven Madden during the fourth quarter valued at about $1,786,000. Handelsbanken Fonder AB grew its position in shares of Steven Madden by 11.7% during the fourth quarter. Handelsbanken Fonder AB now owns 22,003 shares of the textile maker’s stock valued at $936,000 after purchasing an additional 2,300 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Steven Madden by 3.1% during the fourth quarter. Principal Financial Group Inc. now owns 381,196 shares of the textile maker’s stock valued at $16,208,000 after purchasing an additional 11,602 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D grew its position in shares of Steven Madden by 12.4% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 49,357 shares of the textile maker’s stock valued at $2,099,000 after purchasing an additional 5,434 shares in the last quarter. 99.88% of the stock is owned by institutional investors.

Steven Madden Stock Down 1.8 %

SHOO opened at $28.89 on Friday. The company has a market cap of $2.09 billion, a PE ratio of 12.29 and a beta of 1.06. Steven Madden, Ltd. has a twelve month low of $28.47 and a twelve month high of $50.01. The company has a 50-day moving average price of $39.04 and a 200 day moving average price of $43.11.

Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings results on Wednesday, February 26th. The textile maker reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.02. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. The business had revenue of $582.32 million during the quarter, compared to analysts’ expectations of $550.37 million. As a group, sell-side analysts expect that Steven Madden, Ltd. will post 2.66 earnings per share for the current year.

Steven Madden Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Monday, March 10th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date of this dividend is Monday, March 10th. Steven Madden’s dividend payout ratio is currently 35.74%.

Analysts Set New Price Targets

Several research analysts recently commented on SHOO shares. Needham & Company LLC reiterated a “hold” rating on shares of Steven Madden in a research report on Thursday, February 27th. Telsey Advisory Group dropped their target price on Steven Madden from $44.00 to $38.00 and set a “market perform” rating for the company in a research report on Thursday, February 27th. Citigroup dropped their target price on Steven Madden from $38.00 to $35.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. Jefferies Financial Group restated a “hold” rating on shares of Steven Madden in a research report on Monday, February 3rd. Finally, StockNews.com lowered Steven Madden from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Eight research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $40.33.

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.