Geode Capital Management LLC Has $72.87 Million Stake in Steven Madden, Ltd. (NASDAQ:SHOO)

Geode Capital Management LLC lifted its holdings in Steven Madden, Ltd. (NASDAQ:SHOO) by 0.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,713,504 shares of the textile maker’s stock after purchasing an additional 3,012 shares during the quarter. Geode Capital Management LLC owned 2.37% of Steven Madden worth $72,874,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. R Squared Ltd acquired a new stake in Steven Madden during the fourth quarter worth approximately $55,000. Blue Trust Inc. boosted its holdings in shares of Steven Madden by 20.9% in the 4th 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 in the last quarter. KBC Group NV boosted its stake in Steven Madden by 36.5% in the fourth quarter. KBC Group NV now owns 3,013 shares of the textile maker’s stock valued at $128,000 after buying an additional 805 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of Steven Madden by 21.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,171 shares of the textile maker’s stock valued at $176,000 after purchasing an additional 741 shares in the last quarter. Finally, New Age Alpha Advisors LLC bought a new stake in Steven Madden during the 4th quarter worth $177,000. Institutional investors own 99.88% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Citigroup lowered their price objective on Steven Madden from $38.00 to $35.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. StockNews.com cut Steven Madden from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Telsey Advisory Group decreased their price objective on Steven Madden from $44.00 to $38.00 and set a “market perform” rating for the company in a report on Thursday, February 27th. Jefferies Financial Group reiterated a “hold” rating on shares of Steven Madden in a research note on Monday, February 3rd. Finally, Piper Sandler cut their price objective on Steven Madden from $35.00 to $25.00 and set a “neutral” rating on the stock in a research report on Friday. Eight analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $37.83.

Steven Madden Trading Down 1.8 %

SHOO stock opened at $20.80 on Friday. The stock’s 50 day simple moving average is $29.98 and its 200 day simple moving average is $39.20. Steven Madden, Ltd. has a 12-month low of $19.05 and a 12-month high of $50.01. The stock has a market capitalization of $1.51 billion, a PE ratio of 8.85 and a beta of 0.98.

Steven Madden (NASDAQ:SHOO) last announced its earnings results on Wednesday, February 26th. The textile maker reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. The company had revenue of $582.32 million for the quarter, compared to analysts’ expectations of $550.37 million. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. On average, research analysts predict that Steven Madden, Ltd. will post 2.66 earnings per share for the current year.

Steven Madden Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Monday, March 10th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date was Monday, March 10th. Steven Madden’s dividend payout ratio (DPR) is currently 35.74%.

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.