Allspring Global Investments Holdings LLC Lowers Stake in Steven Madden, Ltd. (NASDAQ:SHOO)

Allspring Global Investments Holdings LLC lowered its stake in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 2.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,122,692 shares of the textile maker’s stock after selling 27,611 shares during the quarter. Allspring Global Investments Holdings LLC owned 1.56% of Steven Madden worth $47,108,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Gladius Capital Management LP purchased a new stake in shares of Steven Madden during the 3rd quarter valued at $36,000. R Squared Ltd purchased a new stake in shares of Steven Madden during the 4th quarter valued at $55,000. Exchange Traded Concepts LLC purchased a new stake in shares of Steven Madden during the 3rd quarter valued at $59,000. Blue Trust Inc. raised its position in shares of Steven Madden by 94.1% during the 3rd quarter. Blue Trust Inc. now owns 1,619 shares of the textile maker’s stock valued at $79,000 after buying an additional 785 shares in the last quarter. Finally, International Assets Investment Management LLC raised its position in shares of Steven Madden by 4,800.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,911 shares of the textile maker’s stock valued at $94,000 after buying an additional 1,872 shares in the last quarter. Hedge funds and other institutional investors own 99.88% of the company’s stock.

Wall Street Analyst Weigh In

SHOO has been the topic of several research reports. StockNews.com cut shares of Steven Madden from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Citigroup decreased their target price on shares of Steven Madden from $45.00 to $38.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 4th. Piper Sandler decreased their target price on shares of Steven Madden from $45.00 to $40.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 4th. Telsey Advisory Group decreased their target price on shares of Steven Madden from $50.00 to $44.00 and set a “market perform” rating on the stock in a research report on Tuesday, February 4th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Steven Madden in a research report on Thursday. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $43.33.

Steven Madden Trading Up 5.4 %

SHOO stock opened at $39.67 on Friday. The firm’s 50-day moving average price is $41.39 and its two-hundred day moving average price is $43.92. Steven Madden, Ltd. has a 12-month low of $36.40 and a 12-month high of $50.01. The stock has a market capitalization of $2.86 billion, a price-to-earnings ratio of 16.88 and a beta of 1.07.

Steven Madden Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date was Friday, December 13th. Steven Madden’s payout ratio is 35.74%.

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.