Mutual of America Capital Management LLC Lowers Stock Holdings in Steven Madden, Ltd. (NASDAQ:SHOO)

Mutual of America Capital Management LLC reduced its stake in Steven Madden, Ltd. (NASDAQ:SHOO) by 3.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 75,011 shares of the textile maker’s stock after selling 2,922 shares during the quarter. Mutual of America Capital Management LLC owned 0.10% of Steven Madden worth $3,150,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of SHOO. Balyasny Asset Management L.P. purchased a new stake in shares of Steven Madden in the first quarter valued at approximately $47,876,000. Wellington Management Group LLP boosted its stake in shares of Steven Madden by 9.4% in the first quarter. Wellington Management Group LLP now owns 7,529,549 shares of the textile maker’s stock valued at $290,941,000 after buying an additional 648,822 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Steven Madden by 71.9% in the fourth quarter. Victory Capital Management Inc. now owns 1,347,639 shares of the textile maker’s stock valued at $43,071,000 after buying an additional 563,607 shares in the last quarter. Norges Bank purchased a new stake in shares of Steven Madden in the fourth quarter valued at approximately $15,660,000. Finally, Lazard Asset Management LLC raised its holdings in 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 last quarter. 99.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have commented on SHOO. Citigroup boosted their target price on Steven Madden from $41.00 to $43.00 and gave the stock a “neutral” rating in a research report on Thursday, February 29th. Williams Trading reiterated a “hold” rating and set a $44.00 target price on shares of Steven Madden in a research report on Wednesday, February 21st. Wedbush boosted their target price on Steven Madden from $36.00 to $38.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 7th. Piper Sandler began coverage on Steven Madden in a research report on Wednesday, February 14th. They set a “neutral” rating and a $45.00 target price on the stock. Finally, Telsey Advisory Group boosted their target price on Steven Madden from $39.00 to $44.00 and gave the stock a “market perform” rating in a research report on Thursday, February 29th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $41.38.

Steven Madden Stock Down 0.6 %

Shares of NASDAQ:SHOO opened at $38.81 on Thursday. Steven Madden, Ltd. has a 52-week low of $29.92 and a 52-week high of $45.63. The stock’s fifty day simple moving average is $41.82 and its 200-day simple moving average is $39.39. The company has a market capitalization of $2.85 billion, a P/E ratio of 16.87 and a beta of 1.16.

Steven Madden (NASDAQ:SHOO) last issued its quarterly earnings data on Wednesday, February 28th. The textile maker reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.05. Steven Madden had a return on equity of 21.61% and a net margin of 8.67%. The business had revenue of $519.71 million for the quarter, compared to the consensus estimate of $511.96 million. During the same period in the prior year, the business earned $0.44 earnings per share. The business’s revenue was up 10.4% on a year-over-year basis. On average, sell-side analysts anticipate that Steven Madden, Ltd. will post 2.61 earnings per share for the current year.

Steven Madden Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were given a dividend of $0.21 per share. The ex-dividend date was Thursday, March 7th. This represents a $0.84 annualized dividend and a yield of 2.16%. Steven Madden’s dividend payout ratio (DPR) is presently 36.52%.

Insider Buying and Selling

In related news, Director Peter Allan Davis sold 1,200 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $42.13, for a total transaction of $50,556.00. Following the transaction, the director now directly owns 5,751 shares in the company, valued at $242,289.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Steven Madden news, CEO Edward R. Rosenfeld sold 48,500 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $41.49, for a total transaction of $2,012,265.00. Following the completion of the sale, the chief executive officer now directly owns 697,038 shares in the company, valued at $28,920,106.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Peter Allan Davis sold 1,200 shares of the company’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $42.13, for a total value of $50,556.00. Following the sale, the director now owns 5,751 shares of the company’s stock, valued at $242,289.63. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 59,346 shares of company stock worth $2,464,841. 2.01% of the stock is owned by company insiders.

Steven Madden Company 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.