Leeward Investments LLC MA Sells 2,387 Shares of Steven Madden, Ltd. (NASDAQ:SHOO)

Leeward Investments LLC MA lessened its stake in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 0.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 308,913 shares of the textile maker’s stock after selling 2,387 shares during the period. Leeward Investments LLC MA’s holdings in Steven Madden were worth $12,974,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC bought a new position in Steven Madden in the fourth quarter worth approximately $32,000. International Assets Investment Management LLC raised its stake in Steven Madden by 4,100.0% in the fourth quarter. International Assets Investment Management LLC now owns 1,638 shares of the textile maker’s stock worth $69,000 after buying an additional 1,599 shares in the last quarter. Counterpoint Mutual Funds LLC bought a new position in Steven Madden in the third quarter worth approximately $105,000. Covestor Ltd raised its stake in Steven Madden by 32.9% in the third quarter. Covestor Ltd now owns 5,320 shares of the textile maker’s stock worth $169,000 after buying an additional 1,316 shares in the last quarter. Finally, Mackenzie Financial Corp bought a new position in Steven Madden in the fourth quarter worth approximately $207,000. Institutional investors own 99.88% of the company’s stock.

Steven Madden Stock Up 1.9 %

Shares of SHOO traded up $0.76 during trading hours on Friday, reaching $40.48. 585,677 shares of the company traded hands, compared to its average volume of 787,986. The stock has a market capitalization of $2.97 billion, a P/E ratio of 17.60 and a beta of 1.16. Steven Madden, Ltd. has a 12-month low of $29.92 and a 12-month high of $45.63. The business has a fifty day moving average price of $41.49 and a 200-day moving average price of $39.68.

Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings data on Wednesday, February 28th. The textile maker reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.05. The firm had revenue of $519.71 million for the quarter, compared to analyst estimates of $511.96 million. Steven Madden had a net margin of 8.67% and a return on equity of 21.61%. The business’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.44 earnings per share. As a group, research analysts predict that Steven Madden, Ltd. will post 2.61 EPS for the current fiscal year.

Steven Madden Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.08%. The ex-dividend date was Thursday, March 7th. Steven Madden’s payout ratio is 36.52%.

Insider Buying and Selling at Steven Madden

In other Steven Madden news, CFO Zine Mazouzi sold 7,246 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $41.66, for a total value of $301,868.36. Following the sale, the chief financial officer now directly owns 68,785 shares of the company’s stock, valued at $2,865,583.10. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Steven Madden news, CFO Zine Mazouzi sold 7,246 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $41.66, for a total value of $301,868.36. Following the sale, the chief financial officer now directly owns 68,785 shares of the company’s stock, valued at $2,865,583.10. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Edward R. Rosenfeld sold 48,500 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $41.49, for a total transaction of $2,012,265.00. Following the completion of the sale, the chief executive officer now directly owns 697,038 shares in the company, valued at $28,920,106.62. The disclosure for this sale can be found here. Over the last three months, insiders have sold 59,346 shares of company stock valued at $2,464,841. 2.01% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on SHOO shares. Jefferies Financial Group reissued a “hold” rating and issued a $40.00 price objective on shares of Steven Madden in a research note on Thursday, January 4th. Citigroup upped their price target on Steven Madden from $41.00 to $43.00 and gave the stock a “neutral” rating in a research report on Thursday, February 29th. Wedbush upped their price target on Steven Madden from $36.00 to $38.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 7th. Piper Sandler initiated coverage on Steven Madden in a research report on Wednesday, February 14th. They set a “neutral” rating and a $45.00 price target on the stock. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $44.00 price target on shares of Steven Madden in a research report on Friday. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $41.38.

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.