Dean Capital Management Cuts Position in Steven Madden, Ltd. $SHOO

Dean Capital Management lessened its position in Steven Madden, Ltd. (NASDAQ:SHOO) by 20.1% during the third quarter, Holdings Channel reports. The fund owned 97,016 shares of the textile maker’s stock after selling 24,397 shares during the period. Steven Madden comprises 1.3% of Dean Capital Management’s holdings, making the stock its 15th biggest holding. Dean Capital Management’s holdings in Steven Madden were worth $3,248,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in SHOO. EverSource Wealth Advisors LLC boosted its holdings in shares of Steven Madden by 86.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,045 shares of the textile maker’s stock worth $25,000 after purchasing an additional 485 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in Steven Madden in the 3rd quarter worth approximately $31,000. Parkside Financial Bank & Trust lifted its position in Steven Madden by 616.8% in the 3rd quarter. Parkside Financial Bank & Trust now owns 2,136 shares of the textile maker’s stock worth $72,000 after buying an additional 1,838 shares during the last quarter. Quadrant Capital Group LLC purchased a new stake in Steven Madden in the third quarter worth approximately $121,000. Finally, State of Wyoming boosted its stake in Steven Madden by 117.3% in the third quarter. State of Wyoming now owns 3,800 shares of the textile maker’s stock worth $127,000 after buying an additional 2,051 shares in the last quarter. Institutional investors own 99.88% of the company’s stock.

Analysts Set New Price Targets

SHOO has been the topic of several research reports. UBS Group reissued a “neutral” rating on shares of Steven Madden in a research note on Monday, February 23rd. Jefferies Financial Group cut shares of Steven Madden from a “hold” rating to an “underperform” rating and set a $30.00 price objective for the company. in a research note on Thursday, February 5th. Williams Trading set a $48.00 price objective on shares of Steven Madden in a research note on Tuesday, March 10th. BTIG Research reaffirmed a “buy” rating and set a $50.00 target price on shares of Steven Madden in a report on Thursday, February 26th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Steven Madden in a research report on Thursday, January 22nd. Five analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $44.00.

Insider Buying and Selling at Steven Madden

In other news, Director Arian Simone Reed sold 3,600 shares of Steven Madden stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $33.44, for a total transaction of $120,384.00. Following the completion of the transaction, the director directly owned 8,705 shares in the company, valued at approximately $291,095.20. This trade represents a 29.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.22% of the company’s stock.

Steven Madden Trading Down 3.8%

SHOO opened at $31.37 on Monday. The stock has a market cap of $2.29 billion, a PE ratio of 50.60 and a beta of 1.13. The company has a quick ratio of 1.11, a current ratio of 1.90 and a debt-to-equity ratio of 0.26. The business has a 50 day moving average of $40.15 and a 200-day moving average of $38.02. Steven Madden, Ltd. has a 52 week low of $19.05 and a 52 week high of $46.88.

Steven Madden (NASDAQ:SHOO) last issued its quarterly earnings results on Wednesday, February 25th. The textile maker reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.02. Steven Madden had a return on equity of 13.60% and a net margin of 1.76%.The company had revenue of $753.70 million for the quarter, compared to analysts’ expectations of $758.53 million. During the same period in the prior year, the firm earned $0.55 earnings per share. The firm’s revenue for the quarter was up 29.6% on a year-over-year basis. Equities research analysts predict that Steven Madden, Ltd. will post 2.66 earnings per share for the current fiscal year.

Steven Madden Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Wednesday, March 11th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Wednesday, March 11th. Steven Madden’s dividend payout ratio is 135.48%.

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.