William Blair Investment Management LLC Purchases 18,668 Shares of Steven Madden, Ltd. (NASDAQ:SHOO)

William Blair Investment Management LLC boosted its position in Steven Madden, Ltd. (NASDAQ:SHOO) by 2.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 767,547 shares of the textile maker’s stock after buying an additional 18,668 shares during the quarter. William Blair Investment Management LLC’s holdings in Steven Madden were worth $32,636,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Counterpoint Mutual Funds LLC bought a new position in Steven Madden in the fourth quarter valued at approximately $308,000. Cibc World Markets Corp acquired a new stake in Steven Madden in the fourth quarter valued at approximately $288,000. Vestcor Inc acquired a new stake in Steven Madden in the fourth quarter valued at approximately $242,000. HighTower Advisors LLC boosted its position in Steven Madden by 11.7% in the fourth quarter. HighTower Advisors LLC now owns 6,439 shares of the textile maker’s stock valued at $274,000 after buying an additional 676 shares in the last quarter. Finally, Moran Wealth Management LLC boosted its position in Steven Madden by 1.6% in the fourth quarter. Moran Wealth Management LLC now owns 21,126 shares of the textile maker’s stock valued at $898,000 after buying an additional 325 shares in the last quarter. 99.88% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Piper Sandler cut their target price on shares of Steven Madden from $45.00 to $40.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 4th. Loop Capital cut their target price on shares of Steven Madden from $40.00 to $35.00 and set a “hold” rating on the stock in a research report on Thursday, February 27th. Needham & Company LLC restated a “hold” rating on shares of Steven Madden in a research report on Thursday, February 27th. Jefferies Financial Group restated a “hold” rating on shares of Steven Madden in a research report on Monday, February 3rd. Finally, Citigroup cut their price target on shares of Steven Madden from $38.00 to $35.00 and set a “neutral” rating on the stock in a report on Thursday, February 27th. Eight investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Steven Madden presently has an average rating of “Hold” and a consensus target price of $40.33.

Steven Madden Stock Down 1.7 %

SHOO stock opened at $25.31 on Wednesday. The firm has a market cap of $1.83 billion, a price-to-earnings ratio of 10.77 and a beta of 1.06. Steven Madden, Ltd. has a 12-month low of $24.97 and a 12-month high of $50.01. The company’s fifty day simple moving average is $36.53 and its 200 day simple moving average is $42.07.

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

Steven Madden Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Monday, March 10th will be issued a $0.21 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.84 annualized dividend and a yield of 3.32%. Steven Madden’s payout ratio is 35.74%.

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.