Algert Global LLC Purchases New Shares in Steven Madden, Ltd. (NASDAQ:SHOO)

Algert Global LLC purchased a new stake in Steven Madden, Ltd. (NASDAQ:SHOO) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 11,250 shares of the textile maker’s stock, valued at approximately $478,000.

A number of other institutional investors have also recently added to or reduced their stakes in SHOO. Mariner LLC boosted its stake in Steven Madden by 7.2% during the 4th quarter. Mariner LLC now owns 4,740 shares of the textile maker’s stock worth $202,000 after purchasing an additional 319 shares during the last quarter. Moran Wealth Management LLC boosted its stake in Steven Madden by 1.6% during the 4th quarter. Moran Wealth Management LLC now owns 21,126 shares of the textile maker’s stock worth $898,000 after purchasing an additional 325 shares during the last quarter. Blue Trust Inc. boosted 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 worth $83,000 after purchasing an additional 339 shares during the last quarter. Bank of Montreal Can boosted its stake in Steven Madden by 5.5% during the 4th quarter. Bank of Montreal Can now owns 10,660 shares of the textile maker’s stock worth $453,000 after purchasing an additional 554 shares during the last quarter. Finally, Xponance Inc. boosted its stake in Steven Madden by 12.3% during the 4th quarter. Xponance Inc. now owns 5,320 shares of the textile maker’s stock worth $226,000 after purchasing an additional 584 shares during the last quarter. Institutional investors and hedge funds own 99.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. UBS Group lifted their target price on shares of Steven Madden from $22.00 to $23.00 and gave the stock a “neutral” rating in a research note on Thursday. Telsey Advisory Group reaffirmed a “market perform” rating and set a $24.00 target price on shares of Steven Madden in a research note on Thursday. Needham & Company LLC reaffirmed a “hold” rating on shares of Steven Madden in a research note on Friday, May 2nd. Piper Sandler reduced their price target on Steven Madden from $35.00 to $25.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Finally, StockNews.com lowered Steven Madden from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Nine analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $32.00.

Steven Madden Stock Down 3.6%

NASDAQ SHOO opened at $22.98 on Monday. Steven Madden, Ltd. has a 52 week low of $19.05 and a 52 week high of $50.01. The business’s fifty day simple moving average is $23.61 and its 200-day simple moving average is $35.39. The firm has a market cap of $1.67 billion, a PE ratio of 9.78 and a beta of 1.04.

Steven Madden (NASDAQ:SHOO) last issued its quarterly earnings data on Wednesday, May 7th. The textile maker reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.14. The firm had revenue of $551.38 million for the quarter, compared to analyst estimates of $557.81 million. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. Steven Madden’s revenue was up .2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.65 EPS. Research analysts expect that Steven Madden, Ltd. will post 2.66 EPS for the current year.

Steven Madden Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Monday, June 9th will be issued a $0.21 dividend. The ex-dividend date is Monday, June 9th. This represents a $0.84 annualized dividend and a yield of 3.66%. Steven Madden’s dividend payout ratio (DPR) is currently 36.21%.

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.