Mackenzie Financial Corp Makes New Investment in Steven Madden, Ltd. (NASDAQ:SHOO)

Mackenzie Financial Corp acquired a new stake in shares of Steven Madden, Ltd. (NASDAQ:SHOO) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,932 shares of the textile maker’s stock, valued at approximately $207,000.

Several other hedge funds have also recently made changes to their positions in the company. International Assets Investment Management LLC lifted its position in Steven Madden by 4,100.0% during the 4th quarter. International Assets Investment Management LLC now owns 1,638 shares of the textile maker’s stock worth $69,000 after acquiring an additional 1,599 shares during the period. Covestor Ltd lifted its holdings in shares of Steven Madden by 32.9% during the third quarter. Covestor Ltd now owns 5,320 shares of the textile maker’s stock worth $169,000 after purchasing an additional 1,316 shares during the period. Vest Financial LLC purchased a new stake in Steven Madden in the fourth quarter valued at approximately $238,000. O Shaughnessy Asset Management LLC increased its holdings in Steven Madden by 5.1% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 7,544 shares of the textile maker’s stock worth $240,000 after buying an additional 363 shares during the period. Finally, AlphaMark Advisors LLC purchased a new position in Steven Madden during the 3rd quarter worth approximately $251,000. 99.88% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Steven Madden

In other Steven Madden news, CFO Zine Mazouzi sold 7,246 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $41.66, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Peter Allan Davis sold 1,200 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $42.13, for a total transaction of $50,556.00. Following the completion of the sale, the director now owns 5,751 shares in the company, valued at approximately $242,289.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Zine Mazouzi sold 7,246 shares of Steven Madden stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $41.66, for a total transaction of $301,868.36. Following the sale, the chief financial officer now directly owns 68,785 shares in the company, valued at approximately $2,865,583.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 59,346 shares of company stock valued at $2,464,841. 2.08% of the stock is currently owned by insiders.

Steven Madden Stock Up 1.3 %

Shares of SHOO opened at $40.99 on Tuesday. Steven Madden, Ltd. has a 52-week low of $29.92 and a 52-week high of $45.63. The stock has a market cap of $3.01 billion, a PE ratio of 17.82 and a beta of 1.16. The firm’s fifty day moving average is $41.36 and its two-hundred day moving average is $39.90.

Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings results on Wednesday, February 28th. The textile maker reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.05. Steven Madden had a net margin of 8.67% and a return on equity of 21.61%. The firm had revenue of $519.71 million for the quarter, compared to the consensus estimate of $511.96 million. During the same period last year, the firm posted $0.44 earnings per share. The company’s revenue for the quarter was up 10.4% on a year-over-year basis. As a group, research analysts anticipate that Steven Madden, Ltd. will post 2.61 earnings per share for the current year.

Steven Madden Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were given a $0.21 dividend. The ex-dividend date was Thursday, March 7th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.05%. Steven Madden’s dividend payout ratio (DPR) is presently 36.52%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Wedbush increased their price objective on shares of Steven Madden from $36.00 to $38.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 7th. StockNews.com raised Steven Madden from a “hold” rating to a “buy” rating in a report on Thursday, February 29th. Piper Sandler started coverage on shares of Steven Madden in a report on Wednesday, February 14th. They issued a “neutral” rating and a $45.00 price objective for the company. Telsey Advisory Group reiterated a “market perform” rating and set a $44.00 target price on shares of Steven Madden in a research report on Friday. Finally, Williams Trading reissued a “hold” rating and issued a $44.00 price target on shares of Steven Madden in a report on Wednesday, February 21st. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus 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.