Zurcher Kantonalbank Zurich Cantonalbank Raises Stock Position in Steven Madden, Ltd. (NASDAQ:SHOO)

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Steven Madden, Ltd. (NASDAQ:SHOO) by 54.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 25,914 shares of the textile maker’s stock after buying an additional 9,138 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Steven Madden were worth $1,088,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Pacer Advisors Inc. boosted its stake in Steven Madden by 30.7% in the 4th quarter. Pacer Advisors Inc. now owns 1,469,956 shares of the textile maker’s stock worth $61,738,000 after purchasing an additional 345,558 shares in the last quarter. Vanguard Group Inc. boosted its stake in Steven Madden by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 8,329,605 shares of the textile maker’s stock worth $264,632,000 after purchasing an additional 80,199 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Steven Madden by 1.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 34,365 shares of the textile maker’s stock worth $1,092,000 after purchasing an additional 482 shares in the last quarter. Raymond James & Associates boosted its stake in Steven Madden by 4.1% in the 4th quarter. Raymond James & Associates now owns 105,879 shares of the textile maker’s stock worth $4,447,000 after purchasing an additional 4,136 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in Steven Madden by 5.3% in the 3rd quarter. Wellington Management Group LLP now owns 6,264,768 shares of the textile maker’s stock worth $199,032,000 after purchasing an additional 316,676 shares in the last quarter. 99.88% of the stock is currently owned by institutional investors and hedge funds.

Steven Madden Stock Performance

Shares of NASDAQ SHOO opened at $40.48 on Friday. The firm has a market cap of $2.97 billion, a PE ratio of 17.60 and a beta of 1.16. The firm has a fifty day moving average of $41.42 and a 200 day moving average of $39.79. Steven Madden, Ltd. has a one year low of $29.92 and a one year high of $45.63.

Steven Madden (NASDAQ:SHOO) last released its 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. Steven Madden had a net margin of 8.67% and a return on equity of 21.61%. The business had revenue of $519.71 million during the quarter, compared to analyst estimates of $511.96 million. During the same quarter in the prior year, the firm earned $0.44 earnings per share. The company’s revenue for the quarter was up 10.4% compared to the same quarter last year. On average, equities analysts predict that Steven Madden, Ltd. will post 2.61 EPS for the current fiscal year.

Steven Madden Dividend Announcement

The firm also recently announced 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 2.08%. The ex-dividend date was Thursday, March 7th. Steven Madden’s payout ratio is 36.52%.

Analyst Ratings Changes

Several analysts have commented on the stock. Citigroup lifted their price objective 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 lifted their price objective on shares of Steven Madden from $36.00 to $38.00 and gave the company a “neutral” rating in a research note on Wednesday, February 7th. Telsey Advisory Group restated a “market perform” rating and set a $44.00 price objective on shares of Steven Madden in a research note on Friday. Piper Sandler assumed coverage on shares of Steven Madden in a research note on Wednesday, February 14th. They set a “neutral” rating and a $45.00 price objective for the company. Finally, Jefferies Financial Group restated a “hold” rating and set a $40.00 price objective on shares of Steven Madden in a research note on Thursday, January 4th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $41.38.

Insider Transactions at Steven Madden

In other news, CEO Edward R. Rosenfeld sold 48,500 shares of the company’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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Zine Mazouzi sold 7,246 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $41.66, for a total transaction of $301,868.36. Following the transaction, the chief financial officer now owns 68,785 shares of the company’s stock, valued at approximately $2,865,583.10. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Edward R. Rosenfeld sold 48,500 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 697,038 shares in the company, valued at approximately $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 90 days. 2.01% of the stock is currently owned by corporate insiders.

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.