Gotham Asset Management LLC Makes New $370,000 Investment in Steven Madden, Ltd. (NASDAQ:SHOO)

Gotham Asset Management LLC acquired a new position in shares of Steven Madden, Ltd. (NASDAQ:SHOO) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 8,709 shares of the textile maker’s stock, valued at approximately $370,000.

Other hedge funds also recently added to or reduced their stakes in the company. Graham Capital Management L.P. purchased a new stake in shares of Steven Madden in the fourth quarter valued at approximately $1,043,000. Deutsche Bank AG boosted its stake in shares of Steven Madden by 49.0% in the fourth quarter. Deutsche Bank AG now owns 64,998 shares of the textile maker’s stock valued at $2,764,000 after buying an additional 21,363 shares in the last quarter. Brevan Howard Capital Management LP purchased a new stake in shares of Steven Madden in the fourth quarter valued at approximately $442,000. Algert Global LLC purchased a new stake in shares of Steven Madden in the fourth quarter valued at approximately $478,000. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in shares of Steven Madden in the fourth quarter valued at approximately $398,000. 99.88% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently weighed in on SHOO shares. Citigroup decreased their price target on Steven Madden from $35.00 to $23.00 and set a “neutral” rating on the stock in a research note on Thursday, May 1st. Needham & Company LLC restated a “hold” rating on shares of Steven Madden in a research note on Friday, May 2nd. UBS Group lifted their price objective on Steven Madden from $22.00 to $23.00 and gave the stock a “neutral” rating in a report on Thursday, May 8th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Steven Madden in a report on Monday, February 3rd. Finally, Loop Capital reduced their price objective on Steven Madden from $40.00 to $35.00 and set a “hold” rating for the company in a report on Thursday, February 27th. Nine 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 has an average rating of “Hold” and a consensus price target of $32.00.

Steven Madden Stock Performance

Steven Madden stock opened at $26.49 on Wednesday. The stock has a fifty day moving average of $23.42 and a two-hundred day moving average of $34.54. The company has a market capitalization of $1.92 billion, a price-to-earnings ratio of 11.27 and a beta of 1.04. Steven Madden, Ltd. has a fifty-two week low of $19.05 and a fifty-two week high of $50.01.

Steven Madden (NASDAQ:SHOO) last released its quarterly earnings results on Wednesday, May 7th. The textile maker reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.14. The company had revenue of $551.38 million during the quarter, compared to the consensus estimate of $557.81 million. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. Steven Madden’s revenue was up .2% compared to the same quarter last year. During the same quarter last year, the business posted $0.65 earnings per share. On average, analysts forecast that Steven Madden, Ltd. will post 2.66 EPS for the current fiscal year.

Steven Madden Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Monday, June 9th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date is Monday, June 9th. Steven Madden’s dividend payout ratio is currently 36.21%.

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.