Steven Madden, Ltd. (NASDAQ:SHOO) Shares Sold by abrdn plc

abrdn plc reduced its holdings in Steven Madden, Ltd. (NASDAQ:SHOO) by 17.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 459,572 shares of the textile maker’s stock after selling 98,443 shares during the period. abrdn plc owned about 0.64% of Steven Madden worth $19,672,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Central Pacific Bank Trust Division raised its position in shares of Steven Madden by 7.4% in the fourth quarter. Central Pacific Bank Trust Division now owns 4,202 shares of the textile maker’s stock valued at $179,000 after buying an additional 290 shares during the last quarter. Blue Trust Inc. grew its stake in Steven Madden by 20.9% during the 4th quarter. Blue Trust Inc. now owns 1,958 shares of the textile maker’s stock valued at $83,000 after acquiring an additional 339 shares in the last quarter. Louisiana State Employees Retirement System raised its holdings in Steven Madden by 1.2% in 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 last quarter. The Manufacturers Life Insurance Company lifted its stake in Steven Madden by 1.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 40,141 shares of the textile maker’s stock worth $1,698,000 after purchasing an additional 484 shares in the last quarter. Finally, KBC Group NV boosted its holdings in shares of Steven Madden by 34.1% during the 3rd quarter. KBC Group NV now owns 2,208 shares of the textile maker’s stock worth $108,000 after purchasing an additional 561 shares during the last quarter. 99.88% of the stock is currently owned by hedge funds and other institutional investors.

Steven Madden Stock Performance

Steven Madden stock opened at $37.60 on Friday. The firm has a 50 day moving average price of $42.15 and a 200 day moving average price of $44.12. Steven Madden, Ltd. has a fifty-two week low of $36.88 and a fifty-two week high of $50.01. The company has a market capitalization of $2.71 billion, a PE ratio of 16.00 and a beta of 1.07.

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

Steven Madden Announces Dividend

The firm also recently declared 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. The ex-dividend date was Friday, December 13th. This represents a $0.84 annualized dividend and a dividend yield of 2.23%. Steven Madden’s dividend payout ratio is presently 35.74%.

Analysts Set New Price Targets

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