Magnetar Financial LLC Invests $1.23 Million in Steven Madden, Ltd. (NASDAQ:SHOO)

Magnetar Financial LLC purchased a new position in Steven Madden, Ltd. (NASDAQ:SHOO) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 28,961 shares of the textile maker’s stock, valued at approximately $1,231,000.

A number of other institutional investors also recently made changes to their positions in SHOO. R Squared Ltd acquired a new position in Steven Madden in the 4th quarter valued at $55,000. Blue Trust Inc. increased its position 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 increased its position 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. Smartleaf Asset Management LLC increased its position 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. Finally, Central Pacific Bank Trust Division increased its position in Steven Madden by 7.4% during the fourth quarter. Central Pacific Bank Trust Division now owns 4,202 shares of the textile maker’s stock worth $179,000 after purchasing an additional 290 shares during the last quarter. 99.88% of the stock is owned by institutional investors and hedge funds.

Steven Madden Stock Down 3.7 %

SHOO stock opened at $25.03 on Friday. Steven Madden, Ltd. has a 52-week low of $24.56 and a 52-week high of $50.01. The stock’s 50 day moving average is $35.59 and its two-hundred day moving average is $41.71. The company has a market capitalization of $1.81 billion, a PE ratio of 10.65 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 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.02. The firm 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, sell-side analysts anticipate that Steven Madden, Ltd. will post 2.66 EPS for the current 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 issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.36%. The ex-dividend date was Monday, March 10th. Steven Madden’s dividend payout ratio is currently 35.74%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Jefferies Financial Group reaffirmed a “hold” rating on shares of Steven Madden in a research report on Monday, February 3rd. StockNews.com downgraded shares of Steven Madden from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Needham & Company LLC reaffirmed a “hold” rating on shares of Steven Madden in a research report on Thursday, February 27th. Citigroup lowered their price objective on shares of Steven Madden from $38.00 to $35.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. Finally, Loop Capital lowered their price objective on shares of Steven Madden from $40.00 to $35.00 and set a “hold” rating for the company 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. According to MarketBeat.com, the stock currently 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.