Magnetar Financial LLC Invests $1.23 Million in Steven Madden, Ltd. (NASDAQ:SHOO)

Magnetar Financial LLC purchased a new position in shares of Steven Madden, Ltd. (NASDAQ:SHOO) in the 4th quarter, Holdings Channel reports. The fund purchased 28,961 shares of the textile maker’s stock, valued at approximately $1,231,000.

Several other institutional investors have also modified their holdings of the company. Central Pacific Bank Trust Division grew its position in shares of 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. Moran Wealth Management LLC grew its stake in shares of Steven Madden by 1.6% in the fourth quarter. Moran Wealth Management LLC now owns 21,126 shares of the textile maker’s stock worth $898,000 after purchasing an additional 325 shares in the last quarter. Blue Trust Inc. grew its stake in shares of Steven Madden by 20.9% in the fourth quarter. Blue Trust Inc. now owns 1,958 shares of the textile maker’s stock worth $83,000 after purchasing an additional 339 shares in the last quarter. KBC Group NV grew its stake in shares of Steven Madden by 34.1% in the third quarter. KBC Group NV now owns 2,208 shares of the textile maker’s stock worth $108,000 after purchasing an additional 561 shares in the last quarter. Finally, Xponance Inc. boosted its stake in Steven Madden by 12.3% during the 4th quarter. Xponance Inc. now owns 5,320 shares of the textile maker’s stock valued at $226,000 after purchasing an additional 584 shares in the last quarter. Institutional investors own 99.88% of the company’s stock.

Steven Madden Stock Performance

Shares of NASDAQ:SHOO opened at $25.03 on Friday. The firm has a 50 day simple moving average of $35.59 and a 200 day simple moving average of $41.71. The company has a market cap of $1.81 billion, a PE ratio of 10.65 and a beta of 1.06. Steven Madden, Ltd. has a 52 week low of $24.56 and a 52 week high of $50.01.

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

Steven Madden Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date was Monday, March 10th. Steven Madden’s dividend payout ratio (DPR) is 35.74%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on SHOO shares. Telsey Advisory Group decreased their price target on Steven Madden from $44.00 to $38.00 and set a “market perform” rating for the company in a research note on Thursday, February 27th. Piper Sandler decreased their target price on Steven Madden from $45.00 to $40.00 and set a “neutral” rating on the stock in a report on Tuesday, February 4th. StockNews.com downgraded Steven Madden from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Needham & Company LLC reiterated a “hold” rating on shares of Steven Madden in a report on Thursday, February 27th. Finally, Loop Capital cut their price target on shares of Steven Madden from $40.00 to $35.00 and set a “hold” rating on the stock in a 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. Based on data from MarketBeat, Steven Madden has an average rating of “Hold” and an average target price of $40.33.

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.