Hennion & Walsh Asset Management Inc. Acquires 3,143 Shares of Steven Madden, Ltd. (NASDAQ:SHOO)

Hennion & Walsh Asset Management Inc. boosted its position in Steven Madden, Ltd. (NASDAQ:SHOO) by 75.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,323 shares of the textile maker’s stock after buying an additional 3,143 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Steven Madden were worth $311,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mackenzie Financial Corp boosted its stake in Steven Madden by 3.1% during the 2nd quarter. Mackenzie Financial Corp now owns 8,232 shares of the textile maker’s stock valued at $348,000 after purchasing an additional 248 shares during the last quarter. Central Pacific Bank Trust Division raised its holdings in Steven Madden by 7.4% during the 4th quarter. Central Pacific Bank Trust Division now owns 4,202 shares of the textile maker’s stock valued at $179,000 after acquiring an additional 290 shares during the period. Louisiana State Employees Retirement System raised its holdings in Steven Madden by 1.2% during the 3rd quarter. Louisiana State Employees Retirement System now owns 35,100 shares of the textile maker’s stock valued at $1,720,000 after acquiring an additional 400 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Steven Madden by 1.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 40,141 shares of the textile maker’s stock valued at $1,698,000 after acquiring an additional 484 shares during the period. Finally, KBC Group NV raised its holdings in Steven Madden by 34.1% during the 3rd quarter. KBC Group NV now owns 2,208 shares of the textile maker’s stock valued at $108,000 after acquiring an additional 561 shares during the period. 99.88% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SHOO has been the topic of several research analyst reports. StockNews.com cut shares of Steven Madden from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Needham & Company LLC restated a “hold” rating on shares of Steven Madden in a research report on Thursday, December 5th. Citigroup increased their target price on shares of Steven Madden from $43.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $50.00 price target on shares of Steven Madden in a research note on Wednesday, November 13th. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $46.33.

Steven Madden Stock Up 2.4 %

NASDAQ:SHOO opened at $42.12 on Wednesday. The company’s 50 day moving average price is $42.96 and its 200-day moving average price is $44.43. Steven Madden, Ltd. has a 52 week low of $37.99 and a 52 week high of $50.01. The stock has a market cap of $3.04 billion, a price-to-earnings ratio of 17.92 and a beta of 1.08.

Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings results on Thursday, November 7th. The textile maker reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.02. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. The firm had revenue of $624.68 million for the quarter, compared to analysts’ expectations of $607.89 million. During the same quarter in the prior year, the company posted $0.88 earnings per share. The business’s revenue for the quarter was up 13.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Steven Madden, Ltd. will post 2.66 earnings per share for the current year.

Steven Madden Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.99%. The ex-dividend date was Friday, December 13th. Steven Madden’s dividend payout ratio is presently 35.74%.

Steven Madden Company 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.