Steele Capital Management Inc. Acquires New Stake in Steven Madden, Ltd. (NASDAQ:SHOO)

Steele Capital Management Inc. acquired a new stake in shares of Steven Madden, Ltd. (NASDAQ:SHOO) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,637 shares of the textile maker’s stock, valued at approximately $237,000.

Other large investors have also bought and sold shares of the company. Pacer Advisors Inc. boosted its holdings in shares of Steven Madden by 30.7% in the fourth quarter. Pacer Advisors Inc. now owns 1,469,956 shares of the textile maker’s stock worth $61,738,000 after acquiring an additional 345,558 shares during the period. Vanguard Group Inc. boosted its stake in Steven Madden by 1.0% in the third quarter. Vanguard Group Inc. now owns 8,329,605 shares of the textile maker’s stock worth $264,632,000 after buying an additional 80,199 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Steven Madden by 1.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 34,365 shares of the textile maker’s stock valued at $1,092,000 after purchasing an additional 482 shares in the last quarter. Raymond James & Associates raised its position in Steven Madden by 4.1% in the 4th quarter. Raymond James & Associates now owns 105,879 shares of the textile maker’s stock worth $4,447,000 after purchasing an additional 4,136 shares during the period. 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 worth $199,032,000 after purchasing an additional 316,676 shares during the last quarter. 99.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SHOO has been the topic of several analyst reports. Williams Trading reiterated a “hold” rating and issued a $44.00 price objective on shares of Steven Madden in a report on Wednesday, February 21st. Citigroup raised their target price on shares of Steven Madden from $41.00 to $43.00 and gave the stock a “neutral” rating in a report on Thursday, February 29th. StockNews.com upgraded shares of Steven Madden from a “hold” rating to a “buy” rating in a report on Thursday, February 29th. Telsey Advisory Group reissued a “market perform” rating and issued a $44.00 price target on shares of Steven Madden in a report on Friday. Finally, Piper Sandler began coverage on Steven Madden in a research note on Wednesday, February 14th. They issued a “neutral” rating and a $45.00 target price on the stock. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $41.38.

Steven Madden Price Performance

SHOO stock traded down $0.36 during midday trading on Tuesday, hitting $40.63. The stock had a trading volume of 135,443 shares, compared to its average volume of 780,074. The firm has a market cap of $2.98 billion, a price-to-earnings ratio of 17.82 and a beta of 1.16. The business has a 50-day moving average of $41.36 and a two-hundred day moving average of $39.90. Steven Madden, Ltd. has a 52-week low of $29.92 and a 52-week high of $45.63.

Steven Madden (NASDAQ:SHOO) last announced its earnings results on Wednesday, February 28th. The textile maker reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.05. The business had revenue of $519.71 million during the quarter, compared to the consensus estimate of $511.96 million. Steven Madden had a net margin of 8.67% and a return on equity of 21.61%. The business’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.44 earnings per share. Research analysts predict that Steven Madden, Ltd. will post 2.61 earnings per share for the current year.

Steven Madden Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend was Thursday, March 7th. Steven Madden’s dividend payout ratio is currently 36.52%.

Insider Buying and Selling

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

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.