Victory Capital Management Inc. Sells 720 Shares of Steven Madden, Ltd. (NASDAQ:SHOO)

Victory Capital Management Inc. lowered its position in Steven Madden, Ltd. (NASDAQ:SHOO) by 0.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 827,394 shares of the textile maker’s stock after selling 720 shares during the period. Victory Capital Management Inc. owned about 1.15% of Steven Madden worth $35,181,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in SHOO. Central Pacific Bank Trust Division lifted its holdings in shares of Steven Madden by 7.4% in the 4th quarter. Central Pacific Bank Trust Division now owns 4,202 shares of the textile maker’s stock valued at $179,000 after acquiring an additional 290 shares during the last quarter. Blue Trust Inc. lifted 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 acquiring an additional 339 shares during the last quarter. KBC Group NV lifted its holdings in shares of Steven Madden by 34.1% in the 3rd quarter. KBC Group NV now owns 2,208 shares of the textile maker’s stock valued at $108,000 after acquiring an additional 561 shares during the last quarter. New York State Teachers Retirement System lifted its holdings in shares of Steven Madden by 0.8% in the 4th quarter. New York State Teachers Retirement System now owns 79,672 shares of the textile maker’s stock valued at $3,388,000 after acquiring an additional 652 shares during the last quarter. Finally, Gladius Capital Management LP bought a new position in shares of Steven Madden in the 3rd quarter valued at about $36,000. Institutional investors own 99.88% of the company’s stock.

Analyst Upgrades and Downgrades

SHOO has been the subject of a number of analyst reports. StockNews.com downgraded shares of Steven Madden from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Piper Sandler lowered their price target on shares of Steven Madden from $45.00 to $40.00 and set a “neutral” rating for the company in a report on Tuesday, February 4th. Needham & Company LLC reissued a “hold” rating on shares of Steven Madden in a research note on Thursday, February 27th. Citigroup decreased 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 note on Thursday, February 27th. Finally, Loop Capital decreased 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 note on Thursday, February 27th. Eight equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Steven Madden currently has an average rating of “Hold” and an average price target of $40.33.

Steven Madden Stock Performance

Steven Madden stock opened at $28.89 on Monday. The company has a 50 day moving average price of $38.78 and a 200-day moving average price of $42.99. Steven Madden, Ltd. has a fifty-two week low of $28.47 and a fifty-two week high of $50.01. The company has a market capitalization of $2.09 billion, a PE ratio of 12.29 and a beta of 1.06.

Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings results on Wednesday, February 26th. The textile maker reported $0.55 earnings per share for the quarter, beating the consensus estimate 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. On average, analysts forecast that Steven Madden, Ltd. will post 2.66 earnings per share for the current year.

Steven Madden Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Monday, March 10th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.91%. The ex-dividend date of this dividend is Monday, March 10th. Steven Madden’s dividend payout ratio is presently 35.74%.

Steven Madden Company 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.