Arrowstreet Capital Limited Partnership Raises Stock Holdings in Steven Madden, Ltd. (NASDAQ:SHOO)

Arrowstreet Capital Limited Partnership grew its holdings in Steven Madden, Ltd. (NASDAQ:SHOO) by 8.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 527,351 shares of the textile maker’s stock after buying an additional 40,750 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Steven Madden were worth $22,423,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Central Pacific Bank Trust Division grew its stake in Steven Madden by 7.4% in the 4th quarter. Central Pacific Bank Trust Division now owns 4,202 shares of the textile maker’s stock valued at $179,000 after acquiring an additional 290 shares during the period. Moran Wealth Management LLC grew its position in shares of Steven Madden by 1.6% in the fourth quarter. Moran Wealth Management LLC now owns 21,126 shares of the textile maker’s stock valued at $898,000 after purchasing an additional 325 shares during the period. Blue Trust Inc. grew its position in shares of Steven Madden by 20.9% in the fourth quarter. Blue Trust Inc. now owns 1,958 shares of the textile maker’s stock valued at $83,000 after purchasing an additional 339 shares during the period. Xponance Inc. increased its stake in shares of Steven Madden by 12.3% during the fourth quarter. Xponance Inc. now owns 5,320 shares of the textile maker’s stock worth $226,000 after purchasing an additional 584 shares in the last quarter. Finally, New York State Teachers Retirement System raised its position in shares of Steven Madden by 0.8% during the 4th quarter. New York State Teachers Retirement System now owns 79,672 shares of the textile maker’s stock worth $3,388,000 after purchasing an additional 652 shares during the last quarter. 99.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Steven Madden Stock Down 16.4 %

NASDAQ SHOO opened at $23.65 on Friday. Steven Madden, Ltd. has a 52 week low of $23.31 and a 52 week high of $50.01. The business’s fifty day simple moving average is $33.01 and its 200-day simple moving average is $40.64. The firm has a market cap of $1.71 billion, a PE ratio of 10.06 and a beta of 1.06.

Steven Madden (NASDAQ:SHOO) last posted its earnings results 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 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%. Research analysts expect that Steven Madden, Ltd. will post 2.66 EPS for the current year.

Steven Madden Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 10th were paid a dividend of $0.21 per share. The ex-dividend date was Monday, March 10th. This represents a $0.84 annualized dividend and a yield of 3.55%. Steven Madden’s dividend payout ratio (DPR) is 35.74%.

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.