Blue Trust Inc. Buys 339 Shares of Steven Madden, Ltd. (NASDAQ:SHOO)

Blue Trust Inc. increased its stake in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 20.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,958 shares of the textile maker’s stock after buying an additional 339 shares during the quarter. Blue Trust Inc.’s holdings in Steven Madden were worth $83,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of SHOO. FMR LLC grew its stake in shares of Steven Madden by 8,180.4% in the 3rd quarter. FMR LLC now owns 535,081 shares of the textile maker’s stock worth $26,214,000 after acquiring an additional 528,619 shares in the last quarter. Weiss Asset Management LP purchased a new position in Steven Madden during the third quarter worth about $12,558,000. Barclays PLC grew its position in Steven Madden by 286.9% in the 3rd quarter. Barclays PLC now owns 139,206 shares of the textile maker’s stock worth $6,819,000 after purchasing an additional 103,226 shares in the last quarter. Edgestream Partners L.P. increased its stake in Steven Madden by 269.7% in the 3rd quarter. Edgestream Partners L.P. now owns 134,716 shares of the textile maker’s stock valued at $6,600,000 after buying an additional 98,274 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in Steven Madden by 278.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 106,972 shares of the textile maker’s stock valued at $4,548,000 after buying an additional 78,672 shares during the last quarter. 99.88% of the stock is owned by hedge funds and other institutional investors.

Steven Madden Stock Performance

Shares of SHOO opened at $37.19 on Friday. The stock’s 50-day simple moving average is $41.98 and its 200 day simple moving average is $44.07. Steven Madden, Ltd. has a 52-week low of $36.88 and a 52-week high of $50.01. The stock has a market capitalization of $2.68 billion, a price-to-earnings ratio of 15.83 and a beta of 1.07.

Steven Madden (NASDAQ:SHOO) last released its quarterly earnings results on Thursday, November 7th. The textile maker reported $0.91 earnings per share for the quarter, topping the consensus estimate 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 firm posted $0.88 earnings per share. The business’s quarterly revenue was up 13.0% on a year-over-year basis. On average, research analysts forecast that Steven Madden, Ltd. will post 2.66 earnings per share for the current fiscal year.

Steven Madden Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.26%. The ex-dividend date was Friday, December 13th. Steven Madden’s dividend payout ratio (DPR) is currently 35.74%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on SHOO shares. Piper Sandler reduced their target price on Steven Madden from $45.00 to $40.00 and set a “neutral” rating for the company in a report on Tuesday. Needham & Company LLC reissued a “hold” rating on shares of Steven Madden in a research report on Thursday. Telsey Advisory Group decreased their target price on Steven Madden from $50.00 to $44.00 and set a “market perform” rating for the company in a research report on Tuesday. Citigroup cut their price target on shares of Steven Madden from $45.00 to $38.00 and set a “neutral” rating on the stock in a report on Tuesday. Finally, StockNews.com downgraded shares of Steven Madden from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $43.33.

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.