Victory Capital Management Inc. Cuts Holdings in Steven Madden, Ltd. (NASDAQ:SHOO)

Victory Capital Management Inc. trimmed its holdings in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 0.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 827,394 shares of the textile maker’s stock after selling 720 shares during the quarter. Victory Capital Management Inc.’s holdings in Steven Madden were worth $35,181,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of SHOO. Charles Schwab Investment Management Inc. grew its holdings in Steven Madden by 2.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,122,680 shares of the textile maker’s stock worth $47,736,000 after purchasing an additional 25,903 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings 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 worth $176,000 after purchasing an additional 741 shares during the last quarter. Fisher Asset Management LLC grew its holdings in Steven Madden by 2.4% in the fourth quarter. Fisher Asset Management LLC now owns 745,798 shares of the textile maker’s stock worth $31,711,000 after purchasing an additional 17,124 shares during the last quarter. Versor Investments LP purchased a new position in Steven Madden in the fourth quarter worth $566,000. Finally, Illinois Municipal Retirement Fund grew its holdings in Steven Madden by 7.9% in the fourth quarter. Illinois Municipal Retirement Fund now owns 39,892 shares of the textile maker’s stock worth $1,696,000 after purchasing an additional 2,907 shares during the last quarter. 99.88% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Loop Capital cut their price target 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. 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. Jefferies Financial Group reaffirmed a “hold” rating on shares of Steven Madden in a report on Monday, February 3rd. Telsey Advisory Group dropped their price objective on shares of Steven Madden from $44.00 to $38.00 and set a “market perform” rating on the stock in a report on Thursday, February 27th. Finally, StockNews.com lowered shares of Steven Madden from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Eight investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $40.33.

Steven Madden Price Performance

Shares of SHOO opened at $28.89 on Monday. The firm has a market capitalization of $2.09 billion, a PE ratio of 12.29 and a beta of 1.06. The company’s fifty day moving average price is $38.78 and its 200-day moving average price is $42.99. Steven Madden, Ltd. has a 1-year low of $28.47 and a 1-year high of $50.01.

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

Steven Madden Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Monday, March 10th will be given a dividend of $0.21 per share. The ex-dividend date is Monday, March 10th. This represents a $0.84 dividend on an annualized basis and a yield of 2.91%. Steven Madden’s dividend payout ratio is presently 35.74%.

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.