Bank of Montreal Can Acquires 554 Shares of Steven Madden, Ltd. (NASDAQ:SHOO)

Bank of Montreal Can lifted its holdings in Steven Madden, Ltd. (NASDAQ:SHOO) by 5.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,660 shares of the textile maker’s stock after acquiring an additional 554 shares during the period. Bank of Montreal Can’s holdings in Steven Madden were worth $453,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Pictet Asset Management Holding SA lifted its stake in shares of Steven Madden by 17.9% in the 4th quarter. Pictet Asset Management Holding SA now owns 10,503 shares of the textile maker’s stock valued at $447,000 after purchasing an additional 1,594 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Steven Madden by 3.1% in the fourth quarter. Principal Financial Group Inc. now owns 381,196 shares of the textile maker’s stock valued at $16,208,000 after acquiring an additional 11,602 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Steven Madden by 26.4% in the 4th quarter. JPMorgan Chase & Co. now owns 584,068 shares of the textile maker’s stock worth $24,835,000 after acquiring an additional 121,972 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Steven Madden by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,122,680 shares of the textile maker’s stock worth $47,736,000 after purchasing an additional 25,903 shares during the period. Finally, Fisher Asset Management LLC raised its position in Steven Madden by 2.4% in the 4th quarter. Fisher Asset Management LLC now owns 745,798 shares of the textile maker’s stock worth $31,711,000 after purchasing an additional 17,124 shares during the period. Hedge funds and other institutional investors own 99.88% of the company’s stock.

Steven Madden Stock Up 0.5 %

Shares of NASDAQ:SHOO opened at $19.99 on Tuesday. The company has a market capitalization of $1.45 billion, a price-to-earnings ratio of 8.51 and a beta of 0.98. The firm has a 50 day moving average of $27.87 and a 200 day moving average of $37.92. Steven Madden, Ltd. has a 52 week low of $19.05 and a 52 week high of $50.01.

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

Steven Madden Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 10th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 4.20%. The ex-dividend date of this dividend was Monday, March 10th. Steven Madden’s dividend payout ratio is currently 35.74%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SHOO. Needham & Company LLC reaffirmed a “hold” rating on shares of Steven Madden in a research note on Thursday, February 27th. Citigroup reduced their target price on Steven Madden from $38.00 to $35.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. 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. Telsey Advisory Group decreased their price objective on shares of Steven Madden from $44.00 to $38.00 and set a “market perform” rating for the company in a report on Thursday, February 27th. Finally, Jefferies Financial Group reaffirmed a “hold” rating on shares of Steven Madden in a research report on Monday, February 3rd. Eight equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $37.83.

Steven Madden 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.