New Age Alpha Advisors LLC Invests $177,000 in Steven Madden, Ltd. (NASDAQ:SHOO)

New Age Alpha Advisors LLC purchased a new stake in Steven Madden, Ltd. (NASDAQ:SHOO) in the 4th quarter, HoldingsChannel reports. The fund purchased 4,174 shares of the textile maker’s stock, valued at approximately $177,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC lifted its holdings in shares of Steven Madden by 8,180.4% in the third quarter. FMR LLC now owns 535,081 shares of the textile maker’s stock valued at $26,214,000 after purchasing an additional 528,619 shares in the last quarter. Geode Capital Management LLC raised its position in Steven Madden by 3.0% during the third quarter. Geode Capital Management LLC now owns 1,710,492 shares of the textile maker’s stock valued at $83,812,000 after buying an additional 49,075 shares during the period. Principal Financial Group Inc. lifted its stake in Steven Madden by 3.1% in the 4th quarter. Principal Financial Group Inc. now owns 381,196 shares of the textile maker’s stock worth $16,208,000 after acquiring an additional 11,602 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Steven Madden by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,122,680 shares of the textile maker’s stock worth $47,736,000 after acquiring an additional 25,903 shares during the period. Finally, Fisher Asset Management LLC grew its stake in Steven Madden by 2.4% during the 4th quarter. Fisher Asset Management LLC now owns 745,798 shares of the textile maker’s stock valued at $31,711,000 after acquiring an additional 17,124 shares in the last quarter. Institutional investors and hedge funds own 99.88% of the company’s stock.

Steven Madden Stock Performance

Shares of NASDAQ SHOO opened at $28.28 on Thursday. The business’s 50-day simple moving average is $33.37 and its 200-day simple moving average is $40.76. Steven Madden, Ltd. has a 52 week low of $24.56 and a 52 week high of $50.01. The firm has a market cap of $2.05 billion, a price-to-earnings ratio of 12.03 and a beta of 1.06.

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 company had revenue of $582.32 million for the quarter, compared to analyst estimates of $550.37 million. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. As a group, equities research analysts forecast that Steven Madden, Ltd. will post 2.66 earnings per share for the current year.

Steven Madden Dividend Announcement

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

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Citigroup decreased their price target on shares of Steven Madden from $38.00 to $35.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. Loop Capital lowered their price target 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. Telsey Advisory Group cut their price objective on Steven Madden from $44.00 to $38.00 and set a “market perform” rating for the company in a report on Thursday, February 27th. Piper Sandler lowered their target price on Steven Madden from $45.00 to $40.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 4th. Finally, StockNews.com downgraded Steven Madden from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Eight investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $40.33.

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.