Great Lakes Advisors LLC Trims Stake in Steven Madden, Ltd. (NASDAQ:SHOO)

Great Lakes Advisors LLC trimmed its holdings in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 8.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 98,112 shares of the textile maker’s stock after selling 9,256 shares during the quarter. Great Lakes Advisors LLC’s holdings in Steven Madden were worth $4,172,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SHOO. Gladius Capital Management LP purchased a new position in Steven Madden during the third quarter worth about $36,000. R Squared Ltd bought a new stake in Steven Madden during the fourth quarter worth about $55,000. Blue Trust Inc. lifted its stake in Steven Madden by 20.9% during the fourth quarter. Blue Trust Inc. now owns 1,958 shares of the textile maker’s stock worth $83,000 after purchasing an additional 339 shares during the last quarter. KBC Group NV lifted its stake in Steven Madden by 34.1% during the third 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. Finally, Smartleaf Asset Management LLC lifted its stake 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 during the last quarter. 99.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Jefferies Financial Group reaffirmed a “hold” rating on shares of Steven Madden in a research note on Monday, February 3rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Steven Madden in a research note on Thursday, February 27th. Loop Capital dropped their price target on Steven Madden from $40.00 to $35.00 and set a “hold” rating for the company in a research note on Thursday, February 27th. StockNews.com lowered Steven Madden from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Finally, Telsey Advisory Group lowered their target price on Steven Madden from $44.00 to $38.00 and set a “market perform” rating for the company in a research note on Thursday, February 27th. Eight research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Steven Madden presently has a consensus rating of “Hold” and a consensus target price of $40.33.

Steven Madden Trading Down 1.5 %

NASDAQ SHOO opened at $25.30 on Friday. The stock has a 50-day moving average of $37.51 and a 200-day moving average of $42.51. The firm has a market cap of $1.83 billion, a PE ratio of 10.77 and a beta of 1.06. Steven Madden, Ltd. has a 1-year low of $24.97 and a 1-year high of $50.01.

Steven Madden (NASDAQ:SHOO) last released its quarterly earnings results on Wednesday, February 26th. The textile maker reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. The business had revenue of $582.32 million during the quarter, compared to analyst estimates of $550.37 million. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. As a group, equities research analysts forecast that Steven Madden, Ltd. will post 2.66 earnings per share for the current fiscal year.

Steven Madden Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Monday, March 10th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date of this dividend is Monday, March 10th. Steven Madden’s payout ratio is 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.