Entropy Technologies LP Purchases New Holdings in Steven Madden, Ltd. (NASDAQ:SHOO)

Entropy Technologies LP acquired a new position in Steven Madden, Ltd. (NASDAQ:SHOO) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 16,845 shares of the textile maker’s stock, valued at approximately $716,000.

Other institutional investors also recently modified their holdings of the company. Vest Financial LLC raised its stake in shares of Steven Madden by 79.3% in the fourth quarter. Vest Financial LLC now owns 56,423 shares of the textile maker’s stock valued at $2,399,000 after purchasing an additional 24,953 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in Steven Madden during the fourth quarter worth $1,193,000. R Squared Ltd bought a new stake in Steven Madden in the 4th quarter valued at $55,000. Pacer Advisors Inc. acquired a new position in shares of Steven Madden in the 4th quarter valued at $72,795,000. Finally, KBC Group NV lifted its holdings in shares of Steven Madden by 36.5% during the 4th quarter. KBC Group NV now owns 3,013 shares of the textile maker’s stock worth $128,000 after acquiring an additional 805 shares during the period. Institutional investors and hedge funds own 99.88% of the company’s stock.

Steven Madden Price Performance

NASDAQ SHOO opened at $38.24 on Wednesday. The firm has a market cap of $2.76 billion, a PE ratio of 16.27 and a beta of 1.07. The stock’s 50 day simple moving average is $41.65 and its 200 day simple moving average is $44.00. Steven Madden, Ltd. has a one year low of $36.40 and a one year high of $50.01.

Steven Madden Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.84 annualized dividend and a yield of 2.20%. Steven Madden’s dividend payout ratio (DPR) is 35.74%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SHOO. StockNews.com cut shares of Steven Madden from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Citigroup lowered their price objective on Steven Madden from $45.00 to $38.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 4th. Piper Sandler cut their target price on Steven Madden from $45.00 to $40.00 and set a “neutral” rating for the company in a research report on Tuesday, February 4th. Telsey Advisory Group lowered their price target on Steven Madden from $50.00 to $44.00 and set a “market perform” rating on the stock in a research report on Tuesday, February 4th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Steven Madden in a research note on Thursday, February 6th. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $43.33.

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.