ExodusPoint Capital Management LP Acquires Shares of 134,656 Steven Madden, Ltd. (NASDAQ:SHOO)

ExodusPoint Capital Management LP bought a new position in Steven Madden, Ltd. (NASDAQ:SHOO) in the 4th quarter, Holdings Channel.com reports. The firm bought 134,656 shares of the textile maker’s stock, valued at approximately $5,726,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. R Squared Ltd purchased a new position in Steven Madden during the fourth quarter worth about $55,000. Blue Trust Inc. raised its stake in shares of Steven Madden by 20.9% during the 4th quarter. Blue Trust Inc. now owns 1,958 shares of the textile maker’s stock worth $83,000 after buying an additional 339 shares in the last quarter. KBC Group NV boosted its stake in shares of Steven Madden by 36.5% in the fourth quarter. KBC Group NV now owns 3,013 shares of the textile maker’s stock valued at $128,000 after buying an additional 805 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of Steven Madden by 21.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 4,171 shares of the textile maker’s stock valued at $176,000 after buying an additional 741 shares in the last quarter. Finally, New Age Alpha Advisors LLC acquired a new position in Steven Madden during the fourth quarter worth $177,000. Hedge funds and other institutional investors own 99.88% of the company’s stock.

Steven Madden Price Performance

Shares of Steven Madden stock opened at $24.10 on Friday. Steven Madden, Ltd. has a 1 year low of $22.24 and a 1 year high of $50.01. The business has a 50 day moving average price of $32.66 and a 200 day moving average price of $40.44. The company has a market capitalization of $1.74 billion, a P/E ratio of 10.26 and a beta of 0.98.

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 analysts’ consensus estimates of $0.53 by $0.02. The company had revenue of $582.32 million during the quarter, compared to analysts’ expectations of $550.37 million. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. As a group, research analysts expect 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. Shareholders of record on Monday, March 10th were paid a dividend of $0.21 per share. The ex-dividend date was Monday, March 10th. This represents a $0.84 annualized dividend and a dividend yield of 3.49%. Steven Madden’s dividend payout ratio is currently 35.74%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on SHOO shares. Telsey Advisory Group decreased their target price on shares of Steven Madden from $44.00 to $38.00 and set a “market perform” rating on the stock in a research report on Thursday, February 27th. Piper Sandler lowered 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. StockNews.com downgraded shares of Steven Madden from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Citigroup lowered their price target on Steven Madden from $38.00 to $35.00 and set a “neutral” rating on the stock in a report on Thursday, February 27th. Finally, Loop Capital reduced their price objective on Steven Madden from $40.00 to $35.00 and set a “hold” rating for the company in a report on Thursday, February 27th. Eight investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, Steven Madden currently has a consensus rating of “Hold” and an average price target of $40.33.

Steven Madden Company 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.