Cookson Peirce & Co. Inc. Raises Position in Steven Madden, Ltd. (NASDAQ:SHOO)

Cookson Peirce & Co. Inc. grew its position in Steven Madden, Ltd. (NASDAQ:SHOO) by 16.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,504 shares of the textile maker’s stock after acquiring an additional 1,861 shares during the period. Cookson Peirce & Co. Inc.’s holdings in Steven Madden were worth $574,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Central Pacific Bank Trust Division raised its position in Steven Madden by 7.4% during the fourth quarter. Central Pacific Bank Trust Division now owns 4,202 shares of the textile maker’s stock worth $179,000 after acquiring an additional 290 shares during the last quarter. Blue Trust Inc. raised its position in Steven Madden by 20.9% during the fourth 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 last quarter. KBC Group NV raised its position in Steven Madden by 34.1% during the third 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 last quarter. New York State Teachers Retirement System raised its position in Steven Madden by 0.8% during the fourth quarter. New York State Teachers Retirement System now owns 79,672 shares of the textile maker’s stock worth $3,388,000 after acquiring an additional 652 shares during the last quarter. Finally, Gladius Capital Management LP acquired a new position in Steven Madden during the third quarter worth about $36,000. Institutional investors and hedge funds own 99.88% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on SHOO shares. Piper Sandler cut their target price on shares of Steven Madden from $45.00 to $40.00 and set a “neutral” rating for the company in a research report on Tuesday, February 4th. StockNews.com cut shares of Steven Madden from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Citigroup cut their target price 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. Jefferies Financial Group reissued a “hold” rating on shares of Steven Madden in a research report on Monday, February 3rd. Finally, Needham & Company LLC reissued a “hold” rating on shares of Steven Madden in a research report on Thursday, February 27th. Eight research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $40.33.

Steven Madden Price Performance

NASDAQ:SHOO opened at $29.01 on Thursday. The firm has a 50 day simple moving average of $39.57 and a 200-day simple moving average of $43.30. The firm has a market cap of $2.09 billion, a PE ratio of 12.34 and a beta of 1.07. Steven Madden, Ltd. has a 1-year low of $28.62 and a 1-year high of $50.01.

Steven Madden (NASDAQ:SHOO) last released its earnings results on Wednesday, February 26th. The textile maker reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. The firm had revenue of $582.32 million during the quarter, compared to the consensus estimate of $550.37 million. As a group, sell-side analysts expect that Steven Madden, Ltd. will post 2.66 earnings per share for the current fiscal year.

Steven Madden Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Monday, March 10th will be issued 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 2.90%. Steven Madden’s payout ratio is 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.