Vestmark Advisory Solutions Inc. Acquires 902 Shares of Steven Madden, Ltd. (NASDAQ:SHOO)

Vestmark Advisory Solutions Inc. grew its holdings in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 20.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,407 shares of the textile maker’s stock after purchasing an additional 902 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in Steven Madden were worth $230,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Gladius Capital Management LP bought a new position in Steven Madden in the 3rd quarter worth $36,000. R Squared Ltd bought a new position in Steven Madden in the 4th quarter worth $55,000. Blue Trust Inc. raised its holdings in Steven Madden by 20.9% in the 4th quarter. Blue Trust Inc. now owns 1,958 shares of the textile maker’s stock worth $83,000 after acquiring an additional 339 shares during the period. KBC Group NV raised its holdings in Steven Madden by 34.1% in the 3rd quarter. KBC Group NV now owns 2,208 shares of the textile maker’s stock worth $108,000 after acquiring an additional 561 shares during the period. Finally, Covestor Ltd raised its holdings in Steven Madden by 37.1% in the 3rd quarter. Covestor Ltd now owns 4,000 shares of the textile maker’s stock worth $196,000 after acquiring an additional 1,083 shares during the period. Institutional investors own 99.88% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Piper Sandler dropped their target price on shares of Steven Madden from $45.00 to $40.00 and set a “neutral” rating on the stock in a report on Tuesday, February 4th. Telsey Advisory Group dropped their target price on shares of Steven Madden from $44.00 to $38.00 and set a “market perform” rating on the stock in a report on Thursday, February 27th. Jefferies Financial Group restated a “hold” rating on shares of Steven Madden in a research report on Monday, February 3rd. Citigroup cut their price objective on shares of Steven Madden from $38.00 to $35.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. Finally, Loop Capital cut their price objective on shares of Steven Madden from $40.00 to $35.00 and set a “hold” rating for the company in a research report on Thursday, February 27th. Eight equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $40.33.

Steven Madden Stock Performance

Shares of SHOO opened at $28.89 on Monday. The firm has a market capitalization of $2.09 billion, a P/E ratio of 12.29 and a beta of 1.06. The company has a 50-day simple moving average of $38.78 and a 200-day simple moving average of $42.99. Steven Madden, Ltd. has a 52 week low of $27.85 and a 52 week high of $50.01.

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 analysts’ consensus estimates of $0.53 by $0.02. The business had revenue of $582.32 million for the quarter, compared to analysts’ expectations of $550.37 million. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. As a group, equities analysts forecast that Steven Madden, Ltd. will post 2.66 earnings per share for the current year.

Steven Madden Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Monday, March 10th will be paid a $0.21 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.84 dividend on an annualized basis and a yield of 2.91%. Steven Madden’s payout ratio is currently 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.