Corient Private Wealth LLC Trims Stake in Steven Madden, Ltd. (NASDAQ:SHOO)

Corient Private Wealth LLC cut its stake in Steven Madden, Ltd. (NASDAQ:SHOO) by 54.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,938 shares of the textile maker’s stock after selling 8,451 shares during the quarter. Corient Private Wealth LLC’s holdings in Steven Madden were worth $295,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of SHOO. R Squared Ltd acquired a new stake in Steven Madden in the fourth quarter valued at approximately $55,000. Blue Trust Inc. lifted its position 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 valued at $83,000 after buying an additional 339 shares in the last quarter. KBC Group NV grew its stake in Steven Madden by 36.5% in the 4th quarter. KBC Group NV now owns 3,013 shares of the textile maker’s stock valued at $128,000 after acquiring an additional 805 shares during the period. Smartleaf Asset Management LLC raised its position in Steven Madden by 21.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 4,171 shares of the textile maker’s stock worth $176,000 after acquiring an additional 741 shares during the period. Finally, Central Pacific Bank Trust Division lifted its holdings in 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 purchasing an additional 290 shares in the last quarter. Hedge funds and other institutional investors own 99.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SHOO. Citigroup cut their target price on shares of Steven Madden from $38.00 to $35.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. Needham & Company LLC reissued a “hold” rating on shares of Steven Madden in a 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. Loop Capital decreased their price objective on Steven Madden from $40.00 to $35.00 and set a “hold” rating on the stock in a report on Thursday, February 27th. Finally, Piper Sandler dropped their target price on shares of Steven Madden from $45.00 to $40.00 and set a “neutral” rating for the company in a report on Tuesday, February 4th. Eight equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $40.33.

Steven Madden Stock Down 0.0 %

NASDAQ SHOO opened at $26.64 on Tuesday. The business’s fifty day simple moving average is $33.94 and its 200-day simple moving average is $40.97. The firm has a market cap of $1.93 billion, a PE ratio of 11.34 and a beta of 1.06. Steven Madden, Ltd. has a 52 week low of $24.56 and a 52 week high of $50.01.

Steven Madden (NASDAQ:SHOO) last issued its earnings results on Wednesday, February 26th. The textile maker reported $0.55 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 7.68% and a return on equity of 23.41%. Research analysts expect that Steven Madden, Ltd. will post 2.66 EPS for the current year.

Steven Madden Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 10th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.84 annualized dividend and a yield of 3.15%. Steven Madden’s dividend payout ratio (DPR) is 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.