HighTower Advisors LLC Grows Holdings in Steven Madden, Ltd. (NASDAQ:SHOO)

HighTower Advisors LLC grew its position in Steven Madden, Ltd. (NASDAQ:SHOO) by 11.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,439 shares of the textile maker’s stock after purchasing an additional 676 shares during the quarter. HighTower Advisors LLC’s holdings in Steven Madden were worth $274,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. R Squared Ltd purchased a new position in shares of Steven Madden during the 4th quarter valued at $55,000. Blue Trust Inc. lifted its position in shares of Steven Madden by 20.9% in the fourth quarter. Blue Trust Inc. now owns 1,958 shares of the textile maker’s stock valued at $83,000 after acquiring an additional 339 shares in the last quarter. KBC Group NV lifted its position in shares of Steven Madden by 36.5% in the fourth 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 in the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of Steven Madden by 21.6% in 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 grew its position 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 worth $179,000 after purchasing an additional 290 shares in the last quarter. 99.88% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on SHOO. Citigroup dropped their price target on Steven Madden from $38.00 to $35.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. Piper Sandler cut their target price on shares of Steven Madden from $45.00 to $40.00 and set a “neutral” rating for the company in a research note on Tuesday, February 4th. Telsey Advisory Group decreased their price target on shares of Steven Madden from $44.00 to $38.00 and set a “market perform” rating on the stock in a research note 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 downgraded Steven Madden from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Eight analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Steven Madden presently has a consensus rating of “Hold” and an average target price of $40.33.

Steven Madden Trading Up 3.1 %

Shares of NASDAQ:SHOO opened at $28.28 on Thursday. The company has a market cap of $2.05 billion, a price-to-earnings ratio of 12.03 and a beta of 1.06. Steven Madden, Ltd. has a 12 month low of $24.56 and a 12 month high of $50.01. The company has a 50-day moving average price of $33.37 and a 200 day moving average price of $40.76.

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

Steven Madden Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 10th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date was Monday, March 10th. 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.