Corebridge Financial Inc. Has $1.64 Million Stake in Steven Madden, Ltd. (NASDAQ:SHOO)

Corebridge Financial Inc. lessened its stake in Steven Madden, Ltd. (NASDAQ:SHOO) by 7.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,587 shares of the textile maker’s stock after selling 3,030 shares during the period. Corebridge Financial Inc. owned 0.05% of Steven Madden worth $1,641,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. FMR LLC raised its position in shares of Steven Madden by 8,180.4% during the third 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 during the last quarter. BNP Paribas Financial Markets lifted its position in Steven Madden by 35.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 41,174 shares of the textile maker’s stock valued at $2,017,000 after purchasing an additional 10,797 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Steven Madden by 2.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 170,397 shares of the textile maker’s stock valued at $8,348,000 after purchasing an additional 4,745 shares during the last quarter. Captrust Financial Advisors grew its position in shares of Steven Madden by 16.0% during the 3rd quarter. Captrust Financial Advisors now owns 7,020 shares of the textile maker’s stock worth $344,000 after buying an additional 970 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC raised its stake in shares of Steven Madden by 1.4% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 205,460 shares of the textile maker’s stock worth $10,065,000 after buying an additional 2,820 shares during the last quarter. Institutional investors and hedge funds own 99.88% of the company’s stock.

Steven Madden Stock Performance

Shares of SHOO opened at $28.28 on Thursday. The firm has a market capitalization of $2.05 billion, a PE ratio of 12.03 and a beta of 1.06. The stock has a 50 day simple moving average of $33.37 and a 200 day simple moving average of $40.76. 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 quarterly earnings data on Wednesday, February 26th. The textile maker reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.02. The company had revenue of $582.32 million during 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%. Equities research analysts predict that Steven Madden, Ltd. will post 2.66 EPS for the current fiscal year.

Steven Madden Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were issued a $0.21 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.97%. Steven Madden’s dividend payout ratio (DPR) is 35.74%.

Wall Street Analysts Forecast Growth

SHOO has been the topic of a number of recent research reports. Piper Sandler reduced their price objective on shares of Steven Madden from $45.00 to $40.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 4th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Steven Madden in a research note on Monday, February 3rd. Needham & Company LLC reissued a “hold” rating on shares of Steven Madden in a research note on Thursday, February 27th. StockNews.com lowered Steven Madden from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Finally, Telsey Advisory Group cut 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 report on Thursday, February 27th. Eight equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $40.33.

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.