Steven Madden, Ltd. (NASDAQ:SHOO) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. lowered its position in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 2.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 73,327 shares of the textile maker’s stock after selling 1,802 shares during the period. Prudential Financial Inc. owned 0.10% of Steven Madden worth $3,170,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of SHOO. R Squared Ltd acquired a new position in shares of Steven Madden during the 4th quarter worth about $55,000. Blue Trust Inc. boosted its holdings in 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 purchasing an additional 339 shares in the last quarter. KBC Group NV increased its stake in 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 purchasing an additional 805 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in Steven Madden by 21.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 4,171 shares of the textile maker’s stock worth $176,000 after purchasing an additional 741 shares in the last quarter. Finally, Central Pacific Bank Trust Division lifted its position in shares of 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 worth $179,000 after buying an additional 290 shares during the last quarter. Institutional investors and hedge funds own 99.88% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on SHOO. Piper Sandler cut their price target 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 reissued a “hold” rating on shares of Steven Madden in a report on Monday, February 3rd. Needham & Company LLC restated a “hold” rating on shares of Steven Madden in a research note on Thursday, February 27th. Citigroup decreased their price objective on Steven Madden from $38.00 to $35.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. Finally, Loop Capital cut their target price on shares of Steven Madden from $40.00 to $35.00 and set a “hold” rating on the stock in a report on Thursday, February 27th. Eight research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Steven Madden has an average rating of “Hold” and a consensus target price of $40.33.

Steven Madden Trading Up 3.1 %

NASDAQ:SHOO opened at $28.28 on Thursday. The stock’s 50 day simple moving average is $33.37 and its 200-day simple moving average is $40.76. Steven Madden, Ltd. has a 12-month low of $24.56 and a 12-month high of $50.01. The firm has a market cap of $2.05 billion, a P/E ratio of 12.03 and a beta of 1.06.

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

Steven Madden Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Monday, March 10th were given 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 yield of 2.97%. Steven Madden’s payout ratio is currently 35.74%.

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.