Steven Madden, Ltd. (NASDAQ:SHOO) Shares Sold by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board lowered its position in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 94.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 4,500 shares of the textile maker’s stock after selling 80,300 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Steven Madden were worth $191,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Pacer Advisors Inc. acquired a new stake in shares of Steven Madden during the fourth quarter worth about $72,795,000. Raymond James Financial Inc. purchased a new stake in shares of Steven Madden in the 4th quarter valued at $13,652,000. Norges Bank purchased a new stake in shares of Steven Madden in the 4th quarter valued at $9,399,000. Trexquant Investment LP increased its stake 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 worth $10,942,000 after acquiring an additional 153,280 shares during the period. Finally, Invesco Ltd. raised its holdings in shares of Steven Madden by 8.6% during the fourth quarter. Invesco Ltd. now owns 1,745,456 shares of the textile maker’s stock worth $74,217,000 after purchasing an additional 138,065 shares during the last quarter. Hedge funds and other institutional investors own 99.88% of the company’s stock.

Steven Madden Stock Performance

Shares of NASDAQ SHOO opened at $20.80 on Friday. The firm has a fifty day moving average of $26.36 and a 200 day moving average of $37.32. The firm has a market cap of $1.51 billion, a PE ratio of 8.85 and a beta of 0.98. Steven Madden, Ltd. has a one year low of $19.05 and a one year high of $50.01.

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

Steven Madden Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date of this dividend was Monday, March 10th. Steven Madden’s dividend payout ratio is presently 35.74%.

Analyst Ratings Changes

SHOO has been the topic of several analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Steven Madden in a research report on Thursday, February 27th. Citigroup reduced their price target on Steven Madden from $38.00 to $35.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. UBS Group lowered their price objective on Steven Madden from $24.00 to $22.00 and set a “neutral” rating on the stock in a research report on Wednesday. Telsey Advisory Group cut their target price on shares of Steven Madden from $44.00 to $38.00 and set a “market perform” rating for the company in a report on Thursday, February 27th. Finally, Piper Sandler decreased 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. Nine 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, the stock presently has a consensus rating of “Hold” and a consensus price target of $35.57.

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.