Bessemer Group Inc. Has $28,000 Holdings in Steven Madden, Ltd. (NASDAQ:SHOO)

Bessemer Group Inc. decreased its stake in Steven Madden, Ltd. (NASDAQ:SHOO) by 70.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 663 shares of the textile maker’s stock after selling 1,589 shares during the period. Bessemer Group Inc.’s holdings in Steven Madden were worth $28,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Pictet Asset Management Holding SA grew its position in Steven Madden by 17.9% in the 4th quarter. Pictet Asset Management Holding SA now owns 10,503 shares of the textile maker’s stock worth $447,000 after purchasing an additional 1,594 shares during the last quarter. Geode Capital Management LLC grew its position in Steven Madden by 3.0% during the third quarter. Geode Capital Management LLC now owns 1,710,492 shares of the textile maker’s stock worth $83,812,000 after buying an additional 49,075 shares in the last quarter. Principal Financial Group Inc. increased its stake in Steven Madden by 3.1% during the fourth quarter. Principal Financial Group Inc. now owns 381,196 shares of the textile maker’s stock valued at $16,208,000 after acquiring an additional 11,602 shares during the period. JPMorgan Chase & Co. raised its holdings in Steven Madden by 26.4% in the 4th quarter. JPMorgan Chase & Co. now owns 584,068 shares of the textile maker’s stock valued at $24,835,000 after acquiring an additional 121,972 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Steven Madden by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,122,680 shares of the textile maker’s stock worth $47,736,000 after acquiring an additional 25,903 shares during the period. Institutional investors own 99.88% of the company’s stock.

Steven Madden Trading Up 1.8 %

NASDAQ:SHOO opened at $19.90 on Friday. The stock has a market capitalization of $1.44 billion, a P/E ratio of 8.47 and a beta of 0.98. Steven Madden, Ltd. has a 1 year low of $19.05 and a 1 year high of $50.01. The firm has a 50 day moving average of $28.22 and a 200-day moving average of $38.27.

Steven Madden (NASDAQ:SHOO) last announced its earnings results on Wednesday, February 26th. The textile maker reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. The company had revenue of $582.32 million during the quarter, compared to analyst estimates of $550.37 million. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. As a group, analysts forecast that Steven Madden, Ltd. will post 2.66 EPS for the current fiscal year.

Steven Madden Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were given a dividend of $0.21 per share. The ex-dividend date was Monday, March 10th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.22%. Steven Madden’s payout ratio is 35.74%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on SHOO shares. Telsey Advisory Group lowered their price objective on Steven Madden from $44.00 to $38.00 and set a “market perform” rating on the stock in a research report on Thursday, February 27th. Needham & Company LLC restated a “hold” rating on shares of Steven Madden in a research note on Thursday, February 27th. Citigroup reduced their price objective on shares of Steven Madden from $38.00 to $35.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. Piper Sandler lowered their target price on shares of Steven Madden from $35.00 to $25.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Finally, StockNews.com cut shares of Steven Madden from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Eight analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Steven Madden presently has an average rating of “Hold” and an average price target of $37.83.

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.