Steven Madden, Ltd. (NASDAQ:SHOO) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC trimmed its stake in Steven Madden, Ltd. (NASDAQ:SHOO) by 3.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 75,011 shares of the textile maker’s stock after selling 2,922 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Steven Madden were worth $3,150,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. International Assets Investment Management LLC grew its holdings in shares of Steven Madden by 4,100.0% in the 4th quarter. International Assets Investment Management LLC now owns 1,638 shares of the textile maker’s stock worth $69,000 after acquiring an additional 1,599 shares during the last quarter. Pacer Advisors Inc. boosted its position in shares of Steven Madden by 30.7% in the fourth quarter. Pacer Advisors Inc. now owns 1,469,956 shares of the textile maker’s stock worth $61,738,000 after buying an additional 345,558 shares during the period. Raymond James & Associates boosted its position in shares of Steven Madden by 4.1% in the fourth quarter. Raymond James & Associates now owns 105,879 shares of the textile maker’s stock worth $4,447,000 after buying an additional 4,136 shares during the period. Vest Financial LLC acquired a new stake in shares of Steven Madden in the fourth quarter worth $238,000. Finally, Vanguard Group Inc. boosted its position in shares of Steven Madden by 1.0% in the third quarter. Vanguard Group Inc. now owns 8,329,605 shares of the textile maker’s stock worth $264,632,000 after buying an additional 80,199 shares during the period. 99.88% of the stock is currently owned by institutional investors and hedge funds.

Steven Madden Trading Down 0.6 %

SHOO opened at $38.81 on Thursday. The stock has a market cap of $2.85 billion, a price-to-earnings ratio of 16.87 and a beta of 1.16. Steven Madden, Ltd. has a 1 year low of $29.92 and a 1 year high of $45.63. The stock has a fifty day moving average price of $41.82 and a 200 day moving average price of $39.39.

Steven Madden (NASDAQ:SHOO) last released its quarterly earnings data on Wednesday, February 28th. The textile maker reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.05. Steven Madden had a return on equity of 21.61% and a net margin of 8.67%. The firm had revenue of $519.71 million during the quarter, compared to analysts’ expectations of $511.96 million. During the same quarter last year, the firm earned $0.44 earnings per share. The business’s revenue for the quarter was up 10.4% on a year-over-year basis. As a group, sell-side analysts forecast that Steven Madden, Ltd. will post 2.61 earnings per share for the current fiscal year.

Steven Madden Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were given a $0.21 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.16%. Steven Madden’s dividend payout ratio is currently 36.52%.

Analyst Ratings Changes

Several analysts have recently commented on SHOO shares. Jefferies Financial Group reaffirmed a “hold” rating and issued a $40.00 target price on shares of Steven Madden in a research report on Thursday, January 4th. Williams Trading reaffirmed a “hold” rating and issued a $44.00 target price on shares of Steven Madden in a research report on Wednesday, February 21st. StockNews.com raised Steven Madden from a “hold” rating to a “buy” rating in a research report on Thursday, February 29th. Wedbush raised their target price on Steven Madden from $36.00 to $38.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 7th. Finally, Citigroup raised their target price on Steven Madden from $41.00 to $43.00 and gave the stock a “neutral” rating in a research report on Thursday, February 29th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $41.38.

Insiders Place Their Bets

In other Steven Madden news, CEO Edward R. Rosenfeld sold 48,500 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $41.49, for a total value of $2,012,265.00. Following the completion of the sale, the chief executive officer now owns 697,038 shares of the company’s stock, valued at $28,920,106.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Steven Madden news, CFO Zine Mazouzi sold 7,246 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $41.66, for a total value of $301,868.36. Following the completion of the sale, the chief financial officer now owns 68,785 shares of the company’s stock, valued at $2,865,583.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Edward R. Rosenfeld sold 48,500 shares of Steven Madden stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $41.49, for a total value of $2,012,265.00. Following the completion of the transaction, the chief executive officer now owns 697,038 shares in the company, valued at $28,920,106.62. The disclosure for this sale can be found here. Insiders sold 59,346 shares of company stock valued at $2,464,841 over the last quarter. Insiders own 2.01% of the company’s stock.

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.