Goldman Sachs Group Inc. Grows Holdings in Steven Madden, Ltd. (NASDAQ:SHOO)

Goldman Sachs Group Inc. increased its position in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 146.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,010,633 shares of the textile maker’s stock after purchasing an additional 600,601 shares during the quarter. Goldman Sachs Group Inc. owned approximately 1.20% of Steven Madden worth $43,467,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Guggenheim Capital LLC purchased a new position in Steven Madden during the fourth quarter worth about $210,000. Maverick Capital Ltd. raised its position in Steven Madden by 134.4% in the fourth quarter. Maverick Capital Ltd. now owns 35,458 shares of the textile maker’s stock worth $1,525,000 after acquiring an additional 20,328 shares during the period. Dynamic Technology Lab Private Ltd raised its position in Steven Madden by 249.8% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 21,480 shares of the textile maker’s stock worth $924,000 after acquiring an additional 15,339 shares during the period. Laurion Capital Management LP bought a new stake in Steven Madden in the fourth quarter worth about $1,058,000. Finally, Meeder Asset Management Inc. bought a new stake in Steven Madden in the fourth quarter worth about $432,000. Institutional investors and hedge funds own 94.80% of the company’s stock.

NASDAQ SHOO opened at $22.98 on Thursday. The company’s 50 day moving average is $31.69 and its 200-day moving average is $37.83. Steven Madden, Ltd. has a 12-month low of $16.38 and a 12-month high of $44.79. The firm has a market cap of $2.01 billion, a P/E ratio of 13.60, a price-to-earnings-growth ratio of 0.90 and a beta of 0.96.

Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings results on Thursday, February 27th. The textile maker reported $0.39 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.39. Steven Madden had a net margin of 7.99% and a return on equity of 19.44%. The company had revenue of $414.91 million for the quarter, compared to analyst estimates of $424.96 million. During the same quarter in the previous year, the firm posted $0.42 earnings per share. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. As a group, equities research analysts expect that Steven Madden, Ltd. will post 1.79 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Tuesday, March 17th will be given a $0.15 dividend. The ex-dividend date of this dividend is Monday, March 16th. This represents a $0.60 annualized dividend and a dividend yield of 2.61%. This is a positive change from Steven Madden’s previous quarterly dividend of $0.14. Steven Madden’s payout ratio is 30.77%.

SHOO has been the topic of several research reports. Susquehanna Bancshares reaffirmed a “buy” rating and issued a $38.00 price objective (down previously from $43.00) on shares of Steven Madden in a research report on Thursday, February 27th. BidaskClub lowered shares of Steven Madden from a “sell” rating to a “strong sell” rating in a research report on Wednesday, March 18th. ValuEngine raised shares of Steven Madden from a “strong sell” rating to a “sell” rating in a research report on Friday, February 28th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $35.00 price objective (down previously from $40.00) on shares of Steven Madden in a research report on Monday, February 24th. Finally, Loop Capital lowered their price objective on shares of Steven Madden from to in a research report on Friday, February 28th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $37.00.

Steven Madden Company Profile

Steven Madden, Ltd. designs, sources, markets, and sells fashion-forward name brand and private label footwear for women, men, and children worldwide. Its Wholesale Footwear segment provides footwear under the Steve Madden Women's, Madden Girl, Steve Madden Men's, Madden, Madden NYC, Report, Dolce Vita, DV by Dolce Vita, Mad Love, Steven by Steve Madden, Superga, Betsey Johnson, Betseyville, Steve Madden Kids, Stevies, Brian Atwood, Blondo, Kate Spade, and Anne Klein brands, as well as private label footwear.

Further Reading: Front-End Load

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Institutional Ownership by Quarter for Steven Madden (NASDAQ:SHOO)

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