M&T Bank Corp Buys New Stake in Steven Madden, Ltd. $SHOO

M&T Bank Corp bought a new stake in Steven Madden, Ltd. (NASDAQ:SHOO) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 20,251 shares of the textile maker’s stock, valued at approximately $843,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Universal Beteiligungs und Servicegesellschaft mbH lifted its position in Steven Madden by 172.7% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 154,707 shares of the textile maker’s stock worth $6,443,000 after acquiring an additional 97,975 shares during the last quarter. Round Rock Advisors LLC acquired a new position in Steven Madden during the 4th quarter worth $245,000. Evergreen Capital Management LLC acquired a new position in Steven Madden during the 4th quarter worth $267,000. First Horizon Corp lifted its position in Steven Madden by 55.1% during the 4th quarter. First Horizon Corp now owns 892 shares of the textile maker’s stock worth $37,000 after acquiring an additional 317 shares during the last quarter. Finally, KBC Group NV lifted its position in Steven Madden by 53.6% during the 4th quarter. KBC Group NV now owns 3,011 shares of the textile maker’s stock worth $125,000 after acquiring an additional 1,051 shares during the last quarter. Institutional investors and hedge funds own 99.88% of the company’s stock.

Steven Madden Stock Performance

Shares of NASDAQ SHOO opened at $37.56 on Friday. The business has a fifty day simple moving average of $35.71 and a 200 day simple moving average of $38.85. The company has a current ratio of 1.90, a quick ratio of 1.11 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $2.74 billion, a price-to-earnings ratio of 60.58 and a beta of 1.13. Steven Madden, Ltd. has a one year low of $19.75 and a one year high of $46.88.

Steven Madden (NASDAQ:SHOO) last issued its earnings results on Wednesday, February 25th. The textile maker reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.02. Steven Madden had a return on equity of 13.60% and a net margin of 1.76%.The business had revenue of $753.70 million during the quarter, compared to analyst estimates of $758.53 million. During the same period in the prior year, the company posted $0.55 earnings per share. Steven Madden’s revenue was up 29.6% on a year-over-year basis. Sell-side analysts expect that Steven Madden, Ltd. will post 2.09 EPS for the current year.

Steven Madden Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 20th. Investors of record on Wednesday, March 11th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Wednesday, March 11th. Steven Madden’s dividend payout ratio is 135.48%.

Insider Transactions at Steven Madden

In related news, Director Arian Simone Reed sold 3,600 shares of the stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $33.44, for a total value of $120,384.00. Following the completion of the transaction, the director owned 8,705 shares of the company’s stock, valued at $291,095.20. This represents a 29.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.21% of the stock is owned by company insiders.

Analyst Ratings Changes

SHOO has been the subject of a number of research analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Steven Madden in a research report on Tuesday, April 21st. Needham & Company LLC cut their price target on Steven Madden from $50.00 to $41.00 and set a “buy” rating for the company in a report on Wednesday, February 25th. Zacks Research upgraded Steven Madden from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 8th. Jefferies Financial Group lowered Steven Madden from a “hold” rating to an “underperform” rating and set a $30.00 price target for the company. in a report on Thursday, February 5th. Finally, UBS Group reiterated a “neutral” rating and set a $40.00 price target (up from $38.00) on shares of Steven Madden in a report on Monday. Five investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $43.75.

Steven Madden Company 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.