Fisher Asset Management LLC Has $25.23 Million Holdings in Steven Madden, Ltd. (NASDAQ:SHOO)

Fisher Asset Management LLC decreased its holdings in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 1.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 600,742 shares of the textile maker’s stock after selling 11,501 shares during the quarter. Fisher Asset Management LLC owned about 0.81% of Steven Madden worth $25,231,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. abrdn plc acquired a new stake in Steven Madden during the 4th quarter worth $20,351,000. Victory Capital Management Inc. grew its stake in shares of Steven Madden by 52.9% during the third quarter. Victory Capital Management Inc. now owns 1,319,809 shares of the textile maker’s stock worth $41,930,000 after purchasing an additional 456,412 shares during the period. Lazard Asset Management LLC grew its stake in shares of Steven Madden by 348.9% during the third quarter. Lazard Asset Management LLC now owns 447,018 shares of the textile maker’s stock worth $14,201,000 after purchasing an additional 347,431 shares during the period. Pacer Advisors Inc. increased its holdings in Steven Madden by 30.7% in the fourth quarter. Pacer Advisors Inc. now owns 1,469,956 shares of the textile maker’s stock valued at $61,738,000 after purchasing an additional 345,558 shares during the last quarter. Finally, Wellington Management Group LLP lifted its stake in Steven Madden by 5.3% in the third quarter. Wellington Management Group LLP now owns 6,264,768 shares of the textile maker’s stock valued at $199,032,000 after buying an additional 316,676 shares during the period. 99.88% of the stock is owned by institutional investors.

Insider Transactions at Steven Madden

In related news, CEO Edward R. Rosenfeld sold 48,500 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $41.49, for a total value of $2,012,265.00. Following the sale, the chief executive officer now owns 697,038 shares in the company, valued at approximately $28,920,106.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Edward R. Rosenfeld sold 48,500 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $41.49, for a total value of $2,012,265.00. Following the sale, the chief executive officer now owns 697,038 shares in the company, valued at $28,920,106.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Zine Mazouzi sold 7,246 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $41.66, for a total value of $301,868.36. Following the transaction, the chief financial officer now directly owns 68,785 shares in the company, valued at $2,865,583.10. The disclosure for this sale can be found here. Insiders sold 59,346 shares of company stock worth $2,464,841 over the last ninety days. 2.08% of the stock is owned by insiders.

Steven Madden Stock Down 1.3 %

Shares of NASDAQ:SHOO opened at $39.59 on Friday. The firm has a market cap of $2.90 billion, a price-to-earnings ratio of 16.36 and a beta of 1.15. Steven Madden, Ltd. has a 12 month low of $29.92 and a 12 month high of $45.63. The company’s fifty day simple moving average is $41.05 and its 200 day simple moving average is $40.06.

Steven Madden (NASDAQ:SHOO) last released its quarterly earnings data on Wednesday, May 1st. The textile maker reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.09. The company had revenue of $552.38 million for the quarter, compared to analyst estimates of $525.04 million. Steven Madden had a net margin of 8.65% and a return on equity of 22.68%. Steven Madden’s revenue for the quarter was up 19.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.50 EPS. Research analysts expect that Steven Madden, Ltd. will post 2.62 earnings per share for the current fiscal year.

Steven Madden Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Monday, June 10th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $0.84 dividend on an annualized basis and a yield of 2.12%. Steven Madden’s dividend payout ratio is currently 34.71%.

Analyst Ratings Changes

SHOO has been the subject of several analyst reports. Piper Sandler initiated coverage on Steven Madden in a research report on Wednesday, February 14th. They set a “neutral” rating and a $45.00 target price for the company. Wedbush upped their target price on shares of Steven Madden from $36.00 to $38.00 and gave the company a “neutral” rating in a research note on Wednesday, February 7th. StockNews.com raised shares of Steven Madden from a “hold” rating to a “buy” rating in a research report on Thursday, February 29th. Citigroup boosted their price target on shares of Steven Madden from $41.00 to $43.00 and gave the company a “neutral” rating in a report on Thursday, February 29th. Finally, Williams Trading reaffirmed a “hold” rating and set a $44.00 price objective on shares of Steven Madden in a research note on Wednesday, February 21st. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Steven Madden presently has a consensus rating of “Hold” and a consensus price target of $41.38.

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.