Vest Financial LLC Reduces Stock Holdings in Steven Madden, Ltd. $SHOO

Vest Financial LLC decreased its position in Steven Madden, Ltd. (NASDAQ:SHOO) by 37.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 41,399 shares of the textile maker’s stock after selling 24,941 shares during the period. Vest Financial LLC owned about 0.06% of Steven Madden worth $1,724,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Steven Madden by 2.5% in the third quarter. Vanguard Group Inc. now owns 8,283,806 shares of the textile maker’s stock valued at $277,342,000 after purchasing an additional 200,013 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Steven Madden by 18.1% during the third quarter. Wellington Management Group LLP now owns 3,453,208 shares of the textile maker’s stock worth $115,613,000 after acquiring an additional 528,829 shares in the last quarter. Capital Research Global Investors lifted its position in shares of Steven Madden by 14.0% during the third quarter. Capital Research Global Investors now owns 2,720,354 shares of the textile maker’s stock worth $91,077,000 after acquiring an additional 334,058 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Steven Madden by 1.7% during the third quarter. Dimensional Fund Advisors LP now owns 2,450,539 shares of the textile maker’s stock worth $82,046,000 after acquiring an additional 41,947 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of Steven Madden by 50.5% during the second quarter. Invesco Ltd. now owns 2,426,926 shares of the textile maker’s stock worth $58,198,000 after acquiring an additional 814,318 shares in the last quarter. Hedge funds and other institutional investors own 99.88% of the company’s stock.

Wall Street Analyst Weigh In

SHOO has been the topic of several recent research reports. Jefferies Financial Group downgraded Steven Madden from a “hold” rating to an “underperform” rating and set a $30.00 target price on the stock. in a research report on Thursday, February 5th. UBS Group restated a “neutral” rating and set a $40.00 target price (up from $38.00) on shares of Steven Madden in a research report on Monday. Weiss Ratings restated a “hold (c)” rating on shares of Steven Madden in a research report on Tuesday, April 21st. Needham & Company LLC dropped their target price on Steven Madden from $50.00 to $41.00 and set a “buy” rating on the stock in a research report on Wednesday, February 25th. Finally, Telsey Advisory Group restated an “outperform” rating and set a $50.00 target price on shares of Steven Madden in a research report on Thursday, February 26th. Five analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $43.75.

Steven Madden Price Performance

NASDAQ:SHOO opened at $37.56 on Friday. Steven Madden, Ltd. has a 52-week low of $19.75 and a 52-week high of $46.88. The stock has a fifty day moving average of $35.71 and a 200 day moving average of $38.85. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.11 and a current ratio of 1.90. The firm has a market capitalization of $2.74 billion, a price-to-earnings ratio of 60.58 and a beta of 1.13.

Steven Madden (NASDAQ:SHOO) last announced its earnings results on Wednesday, February 25th. The textile maker reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.02. The business had revenue of $753.70 million for the quarter, compared to analyst estimates of $758.53 million. Steven Madden had a return on equity of 13.60% and a net margin of 1.76%.The company’s quarterly revenue was up 29.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.55 EPS. On average, research analysts expect that Steven Madden, Ltd. will post 2.09 EPS for the current fiscal year.

Steven Madden Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 20th. Shareholders of record on Wednesday, March 11th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date was Wednesday, March 11th. Steven Madden’s dividend payout ratio is currently 135.48%.

Insiders Place Their Bets

In other Steven Madden news, Director Arian Simone Reed sold 3,600 shares of the company’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $33.44, for a total value of $120,384.00. Following the transaction, the director directly owned 8,705 shares in the company, valued at $291,095.20. This represents a 29.26% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.21% of the stock is owned by corporate insiders.

Steven Madden Profile

Steven Madden, Inc (NASDAQ: SHOO) is a New York–based designer and marketer of fashion footwear, handbags and accessories. The company’s product portfolio spans a range of contemporary and lifestyle brands for women, men and children, including its core Steve Madden label as well as the Madden Girl and Dolce Vita brands. In addition to footwear, the company licenses its trademarks for use on apparel, eyewear and other fashion accessories.

Steven Madden distributes its products through multiple channels, including wholesale partners, e-commerce platforms and its own brick-and-mortar retail stores.