Millennium Management LLC lifted its position in Steven Madden, Ltd. (NASDAQ:SHOO) by 201.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 240,861 shares of the textile maker’s stock after buying an additional 161,069 shares during the period. Millennium Management LLC owned approximately 0.28% of Steven Madden worth $7,288,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Advisors Asset Management Inc. boosted its holdings in shares of Steven Madden by 61.6% in the 4th quarter. Advisors Asset Management Inc. now owns 832 shares of the textile maker’s stock valued at $25,000 after acquiring an additional 317 shares during the last quarter. Resources Investment Advisors Inc. boosted its holdings in shares of Steven Madden by 50.0% in the 4th quarter. Resources Investment Advisors Inc. now owns 885 shares of the textile maker’s stock valued at $27,000 after acquiring an additional 295 shares during the last quarter. Oregon Public Employees Retirement Fund purchased a new stake in shares of Steven Madden in the 4th quarter valued at $30,000. Parkside Financial Bank & Trust boosted its holdings in shares of Steven Madden by 41.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,292 shares of the textile maker’s stock valued at $39,000 after acquiring an additional 378 shares during the last quarter. Finally, Bessemer Group Inc. purchased a new stake in shares of Steven Madden in the 4th quarter valued at $42,000. 99.93% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have recently commented on SHOO shares. BidaskClub raised shares of Steven Madden from a “sell” rating to a “hold” rating in a report on Thursday, April 25th. Telsey Advisory Group reiterated a “market perform” rating and issued a $37.00 target price on shares of Steven Madden in a research note on Thursday, February 28th. Zacks Investment Research upgraded shares of Steven Madden from a “sell” rating to a “hold” rating in a research note on Wednesday, April 24th. Loop Capital boosted their target price on shares of Steven Madden to $38.00 and gave the company a “buy” rating in a research note on Tuesday, February 19th. Finally, Piper Jaffray Companies set a $38.00 target price on shares of Steven Madden and gave the company a “buy” rating in a research note on Friday, April 26th. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $35.93.
Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings data on Thursday, April 25th. The textile maker reported $0.42 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.05. The company had revenue of $410.90 million during the quarter, compared to analysts’ expectations of $404.31 million. Steven Madden had a net margin of 8.06% and a return on equity of 19.36%. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.54 earnings per share. Analysts forecast that Steven Madden, Ltd. will post 1.84 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Tuesday, June 18th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend is Monday, June 17th. Steven Madden’s dividend payout ratio is presently 30.60%.
In other news, Director Rose Peabody Lynch sold 2,760 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $35.83, for a total value of $98,890.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael Paradise sold 2,000 shares of the stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $35.99, for a total transaction of $71,980.00. The disclosure for this sale can be found here. Corporate insiders own 1.96% of the company’s stock.
Steven Madden Profile
Steven Madden, Ltd. designs, sources, markets, and sells fashion-forward name brand and private label footwear for women, men, and children worldwide. Its Wholesale Footwear segment provides footwear under the Steve Madden Women's, Madden Girl, Steve Madden Men's, Madden, Madden NYC, Dolce Vita, DV by Dolce Vita, Mad Love, Steven by Steve Madden, Report, Superga, Betsey Johnson, Betseyville, Steve Madden Kids, FREEBIRD by Steven, Stevies, B Brian Atwood, Blondo, Kate Spade, and Avec Les Filles brands, as well as private label footwear.
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