Steele Capital Management Inc. Makes New $237,000 Investment in Steven Madden, Ltd. (NASDAQ:SHOO)

Steele Capital Management Inc. purchased a new stake in Steven Madden, Ltd. (NASDAQ:SHOO) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 5,637 shares of the textile maker’s stock, valued at approximately $237,000.

A number of other institutional investors also recently modified their holdings of SHOO. Vanguard Group Inc. lifted its stake in Steven Madden by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 8,329,605 shares of the textile maker’s stock valued at $264,632,000 after acquiring an additional 80,199 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Steven Madden by 5.3% in the third quarter. Wellington Management Group LLP now owns 6,264,768 shares of the textile maker’s stock worth $199,032,000 after purchasing an additional 316,676 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in Steven Madden by 30.7% during the fourth quarter. Pacer Advisors Inc. now owns 1,469,956 shares of the textile maker’s stock worth $61,738,000 after purchasing an additional 345,558 shares during the last quarter. Victory Capital Management Inc. grew its position in Steven Madden by 52.9% in the third quarter. Victory Capital Management Inc. now owns 1,319,809 shares of the textile maker’s stock valued at $41,930,000 after purchasing an additional 456,412 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in Steven Madden by 9.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,209,651 shares of the textile maker’s stock valued at $38,431,000 after buying an additional 108,359 shares during the last quarter. 99.88% of the stock is currently owned by institutional investors.

Steven Madden Stock Performance

Shares of SHOO stock traded down $0.36 on Tuesday, hitting $40.63. The company’s stock had a trading volume of 135,443 shares, compared to its average volume of 780,074. The company has a market capitalization of $2.98 billion, a PE ratio of 17.82 and a beta of 1.16. Steven Madden, Ltd. has a fifty-two week low of $29.92 and a fifty-two week high of $45.63. The stock’s 50 day moving average is $41.36 and its 200-day moving average is $39.90.

Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings data on Wednesday, February 28th. The textile maker reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.05. The firm had revenue of $519.71 million for the quarter, compared to analyst estimates of $511.96 million. Steven Madden had a return on equity of 21.61% and a net margin of 8.67%. The company’s revenue was up 10.4% on a year-over-year basis. During the same quarter last year, the company earned $0.44 EPS. On average, research analysts forecast that Steven Madden, Ltd. will post 2.61 earnings per share for the current year.

Steven Madden Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were paid a $0.21 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.84 annualized dividend and a dividend yield of 2.07%. Steven Madden’s payout ratio is 36.52%.

Insider Transactions at Steven Madden

In other news, CEO Edward R. Rosenfeld sold 48,500 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $41.49, for a total value of $2,012,265.00. Following the completion of the transaction, the chief executive officer now owns 697,038 shares of the company’s stock, valued at $28,920,106.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Zine Mazouzi sold 7,246 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $41.66, for a total transaction of $301,868.36. Following the completion of the transaction, the chief financial officer now owns 68,785 shares of the company’s stock, valued at $2,865,583.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Edward R. Rosenfeld sold 48,500 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of $41.49, for a total value of $2,012,265.00. Following the completion of the sale, the chief executive officer now owns 697,038 shares of the company’s stock, valued at $28,920,106.62. The disclosure for this sale can be found here. In the last quarter, insiders sold 59,346 shares of company stock valued at $2,464,841. Corporate insiders own 2.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on SHOO shares. Jefferies Financial Group restated a “hold” rating and issued a $40.00 price objective on shares of Steven Madden in a report on Thursday, January 4th. Piper Sandler assumed coverage on Steven Madden in a research note on Wednesday, February 14th. They set a “neutral” rating and a $45.00 price objective on the stock. Citigroup raised their target price on shares of Steven Madden from $41.00 to $43.00 and gave the company a “neutral” rating in a research note on Thursday, February 29th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $44.00 price target on shares of Steven Madden in a research report on Friday. Finally, Williams Trading reissued a “hold” rating and set a $44.00 price target on shares of Steven Madden in a research report on Wednesday, February 21st. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $41.38.

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.