Franklin Resources Inc. Sells 52,975 Shares of Steven Madden, Ltd. (NASDAQ:SHOO)

Franklin Resources Inc. reduced its position in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 12.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 361,099 shares of the textile maker’s stock after selling 52,975 shares during the quarter. Franklin Resources Inc.’s holdings in Steven Madden were worth $15,354,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. R Squared Ltd acquired a new position in shares of Steven Madden during the 4th quarter worth about $55,000. Blue Trust Inc. grew 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 worth $83,000 after purchasing an additional 339 shares during the period. KBC Group NV increased its position in Steven Madden by 36.5% during the fourth quarter. KBC Group NV now owns 3,013 shares of the textile maker’s stock worth $128,000 after buying an additional 805 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in 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 during the period. Finally, New Age Alpha Advisors LLC bought a new stake in Steven Madden in the fourth quarter valued at approximately $177,000. Institutional investors and hedge funds own 99.88% of the company’s stock.

Steven Madden Stock Performance

NASDAQ:SHOO opened at $22.26 on Tuesday. Steven Madden, Ltd. has a 52 week low of $21.84 and a 52 week high of $50.01. The firm’s 50-day simple moving average is $32.28 and its 200 day simple moving average is $40.21. The firm has a market cap of $1.61 billion, a price-to-earnings ratio of 9.47 and a beta of 0.98.

Steven Madden (NASDAQ:SHOO) last announced its earnings results on Wednesday, February 26th. The textile maker reported $0.55 EPS for the quarter, topping the consensus estimate of $0.53 by $0.02. The company had revenue of $582.32 million for the quarter, compared to analysts’ expectations of $550.37 million. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. Sell-side analysts anticipate that Steven Madden, Ltd. will post 2.66 EPS for the current year.

Steven Madden Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were given a dividend of $0.21 per share. The ex-dividend date was Monday, March 10th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.77%. Steven Madden’s payout ratio is 35.74%.

Analyst Ratings Changes

Several research analysts have recently commented on SHOO shares. Citigroup reduced their target price on Steven Madden from $38.00 to $35.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. Loop Capital decreased their price objective on shares of Steven Madden from $40.00 to $35.00 and set a “hold” rating on the stock in a report on Thursday, February 27th. StockNews.com lowered shares of Steven Madden from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Piper Sandler reduced their target price on shares of Steven Madden from $45.00 to $40.00 and set a “neutral” rating for the company in a report on Tuesday, February 4th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Steven Madden in a report on Thursday, February 27th. Eight analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Steven Madden has a consensus rating of “Hold” and an average target price of $40.33.

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.