Jane Street Group LLC Reduces Stock Position in Steven Madden, Ltd. (NASDAQ:SHOO)

Jane Street Group LLC reduced its position in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 65.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 42,208 shares of the textile maker’s stock after selling 81,314 shares during the period. Jane Street Group LLC owned 0.06% of Steven Madden worth $1,795,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. R Squared Ltd purchased a new stake in shares of Steven Madden during the fourth quarter worth about $55,000. Quarry LP boosted its holdings in shares of Steven Madden by 403.6% during the fourth quarter. Quarry LP now owns 1,385 shares of the textile maker’s stock worth $59,000 after purchasing an additional 1,110 shares during the period. Blue Trust Inc. boosted its holdings in shares of Steven Madden by 20.9% during the fourth quarter. Blue Trust Inc. now owns 1,958 shares of the textile maker’s stock worth $83,000 after purchasing an additional 339 shares during the period. KBC Group NV boosted its holdings in shares of Steven Madden by 36.5% during the fourth quarter. KBC Group NV now owns 3,013 shares of the textile maker’s stock worth $128,000 after purchasing an additional 805 shares during the period. Finally, Smartleaf Asset Management LLC boosted its holdings in shares of Steven Madden by 21.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 4,171 shares of the textile maker’s stock worth $176,000 after purchasing an additional 741 shares during the period. 99.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Citigroup lowered their price objective on shares of Steven Madden from $35.00 to $23.00 and set a “neutral” rating for the company in a report on Thursday, May 1st. 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 report on Thursday, February 27th. Needham & Company LLC restated a “hold” rating on shares of Steven Madden in a report on Friday, May 2nd. Jefferies Financial Group restated a “hold” rating on shares of Steven Madden in a report on Monday, February 3rd. Finally, Piper Sandler lowered their price objective on shares of Steven Madden from $35.00 to $25.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Nine analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $32.00.

Steven Madden Stock Performance

SHOO stock opened at $26.18 on Friday. The firm has a 50 day moving average price of $23.41 and a 200-day moving average price of $34.80. Steven Madden, Ltd. has a 52-week low of $19.05 and a 52-week high of $50.01. The firm has a market capitalization of $1.90 billion, a price-to-earnings ratio of 11.14 and a beta of 1.04.

Steven Madden (NASDAQ:SHOO) last released its earnings results on Wednesday, May 7th. The textile maker reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.14. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. The firm had revenue of $551.38 million during the quarter, compared to analyst estimates of $557.81 million. During the same period last year, the business earned $0.65 earnings per share. The business’s revenue was up .2% on a year-over-year basis. As a group, sell-side analysts forecast that Steven Madden, Ltd. will post 2.66 earnings per share for the current fiscal year.

Steven Madden Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Monday, June 9th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 3.21%. The ex-dividend date is Monday, June 9th. Steven Madden’s dividend payout ratio (DPR) is currently 36.21%.

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.