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

Leeward Investments LLC MA lessened its stake in Steven Madden, Ltd. (NASDAQ:SHOO) by 0.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 308,913 shares of the textile maker’s stock after selling 2,387 shares during the quarter. Leeward Investments LLC MA owned approximately 0.41% of Steven Madden worth $12,974,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Yousif Capital Management LLC lifted its holdings in shares of Steven Madden by 1.8% in the fourth quarter. Yousif Capital Management LLC now owns 35,824 shares of the textile maker’s stock valued at $1,505,000 after purchasing an additional 634 shares in the last quarter. GAMMA Investing LLC bought a new stake in Steven Madden during the fourth quarter worth $32,000. abrdn plc bought a new stake in Steven Madden during the fourth quarter worth $20,351,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Steven Madden by 54.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,914 shares of the textile maker’s stock worth $1,088,000 after acquiring an additional 9,138 shares during the period. Finally, Mackenzie Financial Corp bought a new stake in Steven Madden during the fourth quarter worth $207,000. Institutional investors own 99.88% of the company’s stock.

Insider Activity at Steven Madden

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

Steven Madden Stock Up 1.9 %

Shares of NASDAQ:SHOO traded up $0.76 during midday trading on Friday, reaching $40.48. 585,677 shares of the company traded hands, compared to its average volume of 787,986. Steven Madden, Ltd. has a 12 month low of $29.92 and a 12 month high of $45.63. The firm has a market capitalization of $2.97 billion, a price-to-earnings ratio of 17.60 and a beta of 1.16. The firm’s fifty day moving average price is $41.49 and its two-hundred day moving average price is $39.68.

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

Steven Madden Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.08%. Steven Madden’s payout ratio is 36.52%.

Wall Street Analysts Forecast Growth

SHOO has been the topic of a number of recent analyst reports. Wedbush lifted their price target on Steven Madden from $36.00 to $38.00 and gave the stock a “neutral” rating in a report on Wednesday, February 7th. StockNews.com upgraded Steven Madden from a “hold” rating to a “buy” rating in a report on Thursday, February 29th. Jefferies Financial Group reiterated a “hold” rating and set a $40.00 price target on shares of Steven Madden in a report on Thursday, January 4th. Piper Sandler began coverage on Steven Madden in a research note on Wednesday, February 14th. They issued a “neutral” rating and a $45.00 target price on the stock. Finally, Williams Trading restated a “hold” rating and issued a $44.00 target price on shares of Steven Madden in a research note on Wednesday, February 21st. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $41.38.

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.