Mutual of America Capital Management LLC Trims Stake in Steven Madden, Ltd. (NASDAQ:SHOO)

Mutual of America Capital Management LLC lessened its holdings in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 83.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,921 shares of the textile maker’s stock after selling 56,032 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Steven Madden were worth $535,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of SHOO. CANADA LIFE ASSURANCE Co raised its holdings in Steven Madden by 5.1% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 73,147 shares of the textile maker’s stock worth $3,089,000 after purchasing an additional 3,569 shares during the period. Price T Rowe Associates Inc. MD increased its position in Steven Madden by 6.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 134,309 shares of the textile maker’s stock worth $5,679,000 after buying an additional 7,547 shares in the last quarter. Jane Street Group LLC raised its stake in shares of Steven Madden by 36.9% in the first quarter. Jane Street Group LLC now owns 183,423 shares of the textile maker’s stock worth $7,755,000 after buying an additional 49,432 shares during the period. Harbor Capital Advisors Inc. lifted its position in shares of Steven Madden by 273.4% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 48,840 shares of the textile maker’s stock valued at $2,066,000 after buying an additional 35,761 shares in the last quarter. Finally, SG Americas Securities LLC grew its stake in shares of Steven Madden by 61.1% during the 2nd quarter. SG Americas Securities LLC now owns 21,058 shares of the textile maker’s stock valued at $891,000 after acquiring an additional 7,983 shares during the period. Institutional investors own 99.88% of the company’s stock.

Steven Madden Stock Down 2.8 %

SHOO opened at $44.16 on Wednesday. The company has a market capitalization of $3.19 billion, a PE ratio of 18.84 and a beta of 1.08. The firm has a 50-day simple moving average of $46.28 and a two-hundred day simple moving average of $44.47. Steven Madden, Ltd. has a 52 week low of $36.56 and a 52 week high of $50.01.

Steven Madden (NASDAQ:SHOO) last posted its earnings results on Thursday, November 7th. The textile maker reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.02. The company had revenue of $624.68 million for the quarter, compared to the consensus estimate of $607.89 million. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. The firm’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.88 earnings per share. As a group, sell-side analysts expect that Steven Madden, Ltd. will post 2.65 earnings per share for the current year.

Steven Madden Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date is Friday, December 13th. Steven Madden’s dividend payout ratio (DPR) is presently 35.74%.

Analysts Set New Price Targets

SHOO has been the topic of a number of recent analyst reports. Wedbush restated a “neutral” rating and set a $41.00 target price on shares of Steven Madden in a research note on Wednesday, August 7th. StockNews.com downgraded shares of Steven Madden from a “buy” rating to a “hold” rating in a research report on Sunday. Needham & Company LLC assumed coverage on shares of Steven Madden in a report on Friday, November 22nd. They issued a “hold” rating for the company. Telsey Advisory Group reissued a “market perform” rating and set a $50.00 price target on shares of Steven Madden in a report on Wednesday, November 13th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $45.00 price objective on shares of Steven Madden in a research note on Friday, August 23rd. Eight analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Steven Madden currently has a consensus rating of “Hold” and a consensus target price of $45.43.

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.