Leeward Investments LLC MA Trims Stock Position in Steven Madden, Ltd. (NASDAQ:SHOO)

Leeward Investments LLC MA cut its stake in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 6.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 290,090 shares of the textile maker’s stock after selling 21,595 shares during the quarter. Leeward Investments LLC MA’s holdings in Steven Madden were worth $12,335,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. FMR LLC increased its position in shares of Steven Madden by 8,180.4% during the third quarter. FMR LLC now owns 535,081 shares of the textile maker’s stock worth $26,214,000 after acquiring an additional 528,619 shares during the period. Geode Capital Management LLC increased its holdings in Steven Madden by 3.0% during the third quarter. Geode Capital Management LLC now owns 1,710,492 shares of the textile maker’s stock valued at $83,812,000 after buying an additional 49,075 shares during the period. Landscape Capital Management L.L.C. purchased a new position in Steven Madden during the third quarter valued at approximately $2,614,000. Systematic Financial Management LP increased its holdings in Steven Madden by 15.9% during the third quarter. Systematic Financial Management LP now owns 439,126 shares of the textile maker’s stock valued at $21,513,000 after buying an additional 60,276 shares during the period. Finally, Blue Trust Inc. increased its holdings in Steven Madden by 20.9% during the fourth quarter. Blue Trust Inc. now owns 1,958 shares of the textile maker’s stock valued at $83,000 after buying an additional 339 shares during the period. 99.88% of the stock is owned by hedge funds and other institutional investors.

Steven Madden Trading Down 1.2 %

NASDAQ:SHOO opened at $38.23 on Friday. Steven Madden, Ltd. has a 12 month low of $36.40 and a 12 month high of $50.01. The firm has a fifty day simple moving average of $40.83 and a 200-day simple moving average of $43.75. The company has a market capitalization of $2.76 billion, a P/E ratio of 16.27 and a beta of 1.07.

Steven Madden Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Piper Sandler cut their price objective on shares of Steven Madden from $45.00 to $40.00 and set a “neutral” rating on the stock in a report on Tuesday, February 4th. Citigroup cut their price objective on shares of Steven Madden from $45.00 to $38.00 and set a “neutral” rating on the stock in a report on Tuesday, February 4th. Telsey Advisory Group reissued a “market perform” rating and set a $44.00 price objective on shares of Steven Madden in a report on Friday, February 14th. Needham & Company LLC reissued a “hold” rating on shares of Steven Madden in a report on Thursday, February 13th. Finally, Jefferies Financial Group reissued a “hold” rating on shares of Steven Madden in a report on Monday, February 3rd. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $43.20.

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.