Allspring Global Investments Holdings LLC Sells 265,406 Shares of Steven Madden, Ltd. $SHOO

Allspring Global Investments Holdings LLC lowered its stake in Steven Madden, Ltd. (NASDAQ:SHOO) by 18.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,166,966 shares of the textile maker’s stock after selling 265,406 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Steven Madden were worth $49,246,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of SHOO. EverSource Wealth Advisors LLC boosted its stake in Steven Madden by 86.6% during the second quarter. EverSource Wealth Advisors LLC now owns 1,045 shares of the textile maker’s stock worth $25,000 after acquiring an additional 485 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in Steven Madden in the third quarter worth $31,000. Parkside Financial Bank & Trust increased its stake in Steven Madden by 616.8% in the third quarter. Parkside Financial Bank & Trust now owns 2,136 shares of the textile maker’s stock valued at $72,000 after purchasing an additional 1,838 shares in the last quarter. Public Employees Retirement System of Ohio raised its holdings in shares of Steven Madden by 13.9% during the third quarter. Public Employees Retirement System of Ohio now owns 2,324 shares of the textile maker’s stock valued at $78,000 after purchasing an additional 283 shares during the period. Finally, Quadrant Capital Group LLC acquired a new position in shares of Steven Madden during the third quarter valued at about $121,000. Institutional investors and hedge funds own 99.88% of the company’s stock.

Steven Madden Stock Up 0.4%

Shares of NASDAQ SHOO opened at $34.06 on Thursday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.90 and a quick ratio of 1.11. The company has a 50-day moving average price of $37.05 and a 200-day moving average price of $38.24. The stock has a market capitalization of $2.48 billion, a P/E ratio of 54.94 and a beta of 1.13. Steven Madden, Ltd. has a 1 year low of $19.05 and a 1 year high of $46.88.

Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings results on Wednesday, February 25th. The textile maker reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.02. The business had revenue of $753.70 million for the quarter, compared to analysts’ expectations of $758.53 million. Steven Madden had a net margin of 1.76% and a return on equity of 13.60%. The firm’s revenue for the quarter was up 29.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.55 EPS. On average, equities research analysts forecast that Steven Madden, Ltd. will post 2.66 EPS for the current fiscal year.

Steven Madden Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 20th. Stockholders of record on Wednesday, March 11th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Wednesday, March 11th. Steven Madden’s dividend payout ratio (DPR) is currently 135.48%.

Insider Activity

In related news, Director Arian Simone Reed sold 3,600 shares of Steven Madden stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $33.44, for a total transaction of $120,384.00. Following the transaction, the director owned 8,705 shares of the company’s stock, valued at $291,095.20. The trade was a 29.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.22% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

SHOO has been the subject of several research reports. Jefferies Financial Group downgraded Steven Madden from a “hold” rating to an “underperform” rating and set a $30.00 target price for the company. in a research note on Thursday, February 5th. Zacks Research downgraded Steven Madden from a “hold” rating to a “strong sell” rating in a research note on Tuesday, March 10th. Williams Trading set a $48.00 price target on Steven Madden in a report on Tuesday, March 10th. Weiss Ratings reissued a “hold (c)” rating on shares of Steven Madden in a research note on Thursday, January 22nd. Finally, Telsey Advisory Group restated an “outperform” rating and set a $50.00 price objective on shares of Steven Madden in a report on Thursday, February 26th. Five research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Steven Madden presently has an average rating of “Hold” and an average target price of $44.00.

Steven Madden Profile

Steven Madden, Inc (NASDAQ: SHOO) is a New York–based designer and marketer of fashion footwear, handbags and accessories. The company’s product portfolio spans a range of contemporary and lifestyle brands for women, men and children, including its core Steve Madden label as well as the Madden Girl and Dolce Vita brands. In addition to footwear, the company licenses its trademarks for use on apparel, eyewear and other fashion accessories.

Steven Madden distributes its products through multiple channels, including wholesale partners, e-commerce platforms and its own brick-and-mortar retail stores.