Envestnet Asset Management Inc. Grows Stake in Steven Madden, Ltd. (NASDAQ:SHOO)

Envestnet Asset Management Inc. boosted its holdings in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 3.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,198 shares of the textile maker’s stock after buying an additional 804 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Steven Madden were worth $944,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Resona Asset Management Co. Ltd. purchased a new stake in Steven Madden during the 4th quarter valued at about $486,000. ExodusPoint Capital Management LP acquired a new stake in shares of Steven Madden in the fourth quarter valued at about $5,726,000. Trexquant Investment LP lifted its position in shares of Steven Madden by 147.3% in the fourth quarter. Trexquant Investment LP now owns 257,334 shares of the textile maker’s stock valued at $10,942,000 after acquiring an additional 153,280 shares in the last quarter. Headlands Technologies LLC boosted its stake in Steven Madden by 231.0% during the 4th quarter. Headlands Technologies LLC now owns 13,033 shares of the textile maker’s stock worth $554,000 after purchasing an additional 9,096 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in Steven Madden by 8.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 527,351 shares of the textile maker’s stock worth $22,423,000 after purchasing an additional 40,750 shares in the last quarter. 99.88% of the stock is currently owned by institutional investors.

Steven Madden Stock Down 0.5 %

SHOO opened at $20.89 on Friday. The firm has a market cap of $1.52 billion, a price-to-earnings ratio of 8.89 and a beta of 0.98. The business’s 50 day moving average is $24.94 and its two-hundred day moving average is $36.59. Steven Madden, Ltd. has a 52 week low of $19.05 and a 52 week high of $50.01.

Steven Madden (NASDAQ:SHOO) last released its quarterly earnings results on Wednesday, February 26th. The textile maker reported $0.55 EPS for the quarter, topping the consensus estimate of $0.53 by $0.02. The business had revenue of $582.32 million during the quarter, compared to analysts’ expectations of $550.37 million. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. Equities analysts expect that Steven Madden, Ltd. will post 2.66 EPS for the current fiscal year.

Steven Madden Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 10th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 4.02%. The ex-dividend date was Monday, March 10th. Steven Madden’s payout ratio is 35.74%.

Wall Street Analysts Forecast Growth

SHOO has been the topic of several recent analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Steven Madden in a report on Thursday, February 27th. StockNews.com lowered Steven Madden from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Telsey Advisory Group dropped their price objective on shares of Steven Madden from $38.00 to $24.00 and set a “market perform” rating on the stock in a research report on Wednesday. Piper Sandler lowered their target price on shares of Steven Madden from $35.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Finally, Jefferies Financial Group reaffirmed a “hold” rating on shares of Steven Madden in a research report on Monday, February 3rd. Nine research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Steven Madden currently has an average rating of “Hold” and a consensus price target of $31.86.

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.