SG Americas Securities LLC Reduces Stake in Steven Madden, Ltd. (NASDAQ:SHOO)

SG Americas Securities LLC lowered its stake in Steven Madden, Ltd. (NASDAQ:SHOO) by 86.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,013 shares of the textile maker’s stock after selling 25,091 shares during the period. SG Americas Securities LLC’s holdings in Steven Madden were worth $169,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Balyasny Asset Management L.P. bought a new stake in shares of Steven Madden during the first quarter valued at approximately $47,876,000. Wellington Management Group LLP raised its stake in shares of Steven Madden by 9.4% during the first quarter. Wellington Management Group LLP now owns 7,529,549 shares of the textile maker’s stock valued at $290,941,000 after acquiring an additional 648,822 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Steven Madden by 71.9% during the fourth quarter. Victory Capital Management Inc. now owns 1,347,639 shares of the textile maker’s stock valued at $43,071,000 after acquiring an additional 563,607 shares in the last quarter. Norges Bank bought a new stake in shares of Steven Madden during the fourth quarter valued at approximately $15,660,000. Finally, Lazard Asset Management LLC raised its stake in shares of Steven Madden by 348.9% during the third quarter. Lazard Asset Management LLC now owns 447,018 shares of the textile maker’s stock valued at $14,201,000 after acquiring an additional 347,431 shares in the last quarter. Hedge funds and other institutional investors own 99.88% of the company’s stock.

Insider Activity

In other news, Director Peter Allan Davis sold 1,200 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $42.13, for a total transaction of $50,556.00. Following the sale, the director now directly owns 5,751 shares of the company’s stock, valued at $242,289.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Edward R. Rosenfeld sold 48,500 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $41.49, for a total transaction of $2,012,265.00. Following the sale, the chief executive officer now directly owns 697,038 shares of the company’s stock, valued at $28,920,106.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Peter Allan Davis sold 1,200 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $42.13, for a total transaction of $50,556.00. Following the sale, the director now directly owns 5,751 shares in the company, valued at $242,289.63. The disclosure for this sale can be found here. Insiders have sold 59,346 shares of company stock valued at $2,464,841 over the last ninety days. 2.01% of the stock is currently owned by insiders.

Steven Madden Trading Down 0.3 %

Shares of SHOO stock opened at $39.09 on Monday. The business’s fifty day simple moving average is $41.95 and its 200-day simple moving average is $39.29. The company has a market cap of $2.87 billion, a PE ratio of 17.00 and a beta of 1.16. Steven Madden, Ltd. has a 12-month low of $29.92 and a 12-month high of $45.63.

Steven Madden (NASDAQ:SHOO) last issued its quarterly earnings results on Wednesday, February 28th. The textile maker reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.05. The business had revenue of $519.71 million for the quarter, compared to the consensus estimate of $511.96 million. Steven Madden had a return on equity of 21.61% and a net margin of 8.67%. The business’s quarterly revenue was up 10.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.44 earnings per share. On average, equities analysts forecast that Steven Madden, Ltd. will post 2.61 earnings per share for the current year.

Steven Madden Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend was Thursday, March 7th. Steven Madden’s dividend payout ratio (DPR) is presently 36.52%.

Analysts Set New Price Targets

SHOO has been the subject of several research analyst reports. Citigroup lifted their price target on shares of Steven Madden from $41.00 to $43.00 and gave the company a “neutral” rating in a research note on Thursday, February 29th. Wedbush boosted their price objective on shares of Steven Madden from $36.00 to $38.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 7th. Piper Sandler began coverage on shares of Steven Madden in a research note on Wednesday, February 14th. They issued a “neutral” rating and a $45.00 price objective for the company. StockNews.com raised shares of Steven Madden from a “hold” rating to a “buy” rating in a research note on Thursday, February 29th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $40.00 price objective on shares of Steven Madden in a research note on Thursday, January 4th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $41.38.

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.