Steven Madden, Ltd. (NASDAQ:SHOO) Shares Sold by Wells Fargo & Company MN

Wells Fargo & Company MN reduced its position in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 7.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 89,354 shares of the textile maker’s stock after selling 6,988 shares during the period. Wells Fargo & Company MN owned about 0.12% of Steven Madden worth $3,799,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Pacer Advisors Inc. purchased a new position in shares of Steven Madden during the 4th quarter valued at approximately $72,795,000. Raymond James Financial Inc. acquired a new position in Steven Madden during the 4th quarter worth $13,652,000. Norges Bank bought a new stake in shares of Steven Madden in the 4th quarter worth about $9,399,000. Trexquant Investment LP lifted its position in shares of Steven Madden by 147.3% during the fourth quarter. Trexquant Investment LP now owns 257,334 shares of the textile maker’s stock worth $10,942,000 after purchasing an additional 153,280 shares during the last quarter. Finally, ExodusPoint Capital Management LP acquired a new position in Steven Madden in the fourth quarter worth about $5,726,000. 99.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SHOO has been the topic of a number of research analyst reports. StockNews.com downgraded Steven Madden from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Jefferies Financial Group reiterated a “hold” rating on shares of Steven Madden in a research note on Monday, February 3rd. Telsey Advisory Group reduced their price target on shares of Steven Madden from $44.00 to $38.00 and set a “market perform” rating on the stock in a research report on Thursday, February 27th. Loop Capital lowered 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 report on Thursday, February 27th. Finally, Piper Sandler decreased their target price on Steven Madden from $35.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Eight investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $37.83.

Steven Madden Trading Up 0.5 %

Shares of NASDAQ:SHOO opened at $19.99 on Tuesday. The firm’s 50 day moving average is $27.87 and its two-hundred day moving average is $37.92. The firm has a market capitalization of $1.45 billion, a P/E ratio of 8.51 and a beta of 0.98. 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 EPS for the quarter, beating the consensus estimate of $0.53 by $0.02. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. The firm had revenue of $582.32 million for the quarter, compared to analysts’ expectations of $550.37 million. Analysts predict that Steven Madden, Ltd. will post 2.66 EPS for the current year.

Steven Madden Announces Dividend

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