Bank of New York Mellon Corp cut its position in shares of Steven Madden, Ltd. (NASDAQ:SHOO – Free Report) by 1.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 952,562 shares of the textile maker’s stock after selling 15,975 shares during the period. Bank of New York Mellon Corp owned approximately 1.25% of Steven Madden worth $34,292,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Exchange Traded Concepts LLC bought a new stake in Steven Madden during the 1st quarter valued at $33,000. Industrial Alliance Investment Management Inc. boosted its position in shares of Steven Madden by 312.3% in the 4th quarter. Industrial Alliance Investment Management Inc. now owns 1,542 shares of the textile maker’s stock worth $49,000 after purchasing an additional 1,168 shares in the last quarter. Strs Ohio boosted its position in shares of Steven Madden by 108.3% in the 1st quarter. Strs Ohio now owns 2,500 shares of the textile maker’s stock worth $90,000 after purchasing an additional 1,300 shares in the last quarter. Quadrant Capital Group LLC boosted its position in shares of Steven Madden by 26.4% in the 4th quarter. Quadrant Capital Group LLC now owns 4,051 shares of the textile maker’s stock worth $129,000 after purchasing an additional 845 shares in the last quarter. Finally, State of Wyoming boosted its position in shares of Steven Madden by 27.8% in the 4th quarter. State of Wyoming now owns 6,664 shares of the textile maker’s stock worth $213,000 after purchasing an additional 1,450 shares in the last quarter. 99.85% of the stock is currently owned by hedge funds and other institutional investors.
Steven Madden Stock Down 1.8 %
Shares of NASDAQ SHOO opened at $33.53 on Friday. The firm has a market cap of $2.53 billion, a price-to-earnings ratio of 15.60 and a beta of 1.13. Steven Madden, Ltd. has a 52-week low of $26.36 and a 52-week high of $37.85. The business’s 50 day moving average is $33.48 and its two-hundred day moving average is $33.95.
Steven Madden Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, September 25th. Shareholders of record on Friday, September 15th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date is Thursday, September 14th. Steven Madden’s payout ratio is 39.07%.
Insider Buying and Selling at Steven Madden
In other Steven Madden news, insider Karla Frieders sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $34.15, for a total value of $170,750.00. Following the sale, the insider now owns 120,542 shares of the company’s stock, valued at $4,116,509.30. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Karla Frieders sold 5,000 shares of the stock in a transaction on Friday, June 16th. The stock was sold at an average price of $34.15, for a total value of $170,750.00. Following the transaction, the insider now owns 120,542 shares of the company’s stock, valued at $4,116,509.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Peter Migliorini sold 3,989 shares of the firm’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $34.54, for a total value of $137,780.06. Following the transaction, the director now directly owns 16,100 shares in the company, valued at approximately $556,094. The disclosure for this sale can be found here. 2.01% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
SHOO has been the subject of a number of research reports. StockNews.com cut Steven Madden from a “buy” rating to a “hold” rating in a research report on Wednesday, August 16th. UBS Group lifted their price objective on Steven Madden from $35.00 to $37.00 in a report on Thursday, August 3rd. Telsey Advisory Group restated a “market perform” rating and set a $39.00 target price on shares of Steven Madden in a report on Thursday, August 3rd. Finally, Citigroup boosted their target price on Steven Madden from $40.00 to $41.00 and gave the stock a “buy” rating in a report on Thursday, August 3rd. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $35.60.
Read Our Latest Report on Steven Madden
Steven Madden Company Profile
Steven Madden, Ltd. designs, sources, and markets fashion-forward branded and private label footwear, accessories, and apparel for women, men, and children in the United States and internationally. It operates through Wholesale Footwear, Wholesale Accessories/Apparel, Direct-to- Consumer, First Cost, and Licensing segments.
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