State Board of Administration of Florida Retirement System raised its holdings in shares of Steven Madden, Ltd. (NASDAQ:SHOO – Get Rating) by 16.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,335 shares of the textile maker’s stock after acquiring an additional 6,089 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.05% of Steven Madden worth $1,396,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in the business. Potomac Capital Management Inc. bought a new stake in shares of Steven Madden in the 2nd quarter worth $966,000. Los Angeles Capital Management LLC raised its stake in shares of Steven Madden by 17.8% in the 2nd quarter. Los Angeles Capital Management LLC now owns 58,389 shares of the textile maker’s stock worth $1,881,000 after buying an additional 8,832 shares in the last quarter. Fort Washington Investment Advisors Inc. OH raised its stake in shares of Steven Madden by 6.6% in the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 601,318 shares of the textile maker’s stock worth $19,368,000 after buying an additional 37,220 shares in the last quarter. State of New Jersey Common Pension Fund D raised its stake in shares of Steven Madden by 5.5% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 64,888 shares of the textile maker’s stock worth $2,090,000 after buying an additional 3,399 shares in the last quarter. Finally, Aviva PLC raised its stake in shares of Steven Madden by 2.4% in the 2nd quarter. Aviva PLC now owns 56,754 shares of the textile maker’s stock worth $1,828,000 after buying an additional 1,332 shares in the last quarter. Institutional investors own 93.27% of the company’s stock.
Analyst Ratings Changes
A number of analysts have recently commented on the company. CL King raised Steven Madden from a “neutral” rating to a “buy” rating in a research note on Wednesday, September 28th. B. Riley decreased their target price on Steven Madden from $58.00 to $49.00 in a report on Thursday, July 28th. UBS Group lifted their target price on Steven Madden from $37.00 to $38.00 and gave the stock a “neutral” rating in a report on Monday, August 1st. Loop Capital cut Steven Madden from a “buy” rating to a “hold” rating and set a $30.00 target price on the stock. in a report on Tuesday, September 13th. Finally, BTIG Research decreased their target price on Steven Madden from $72.00 to $60.00 and set a “buy” rating on the stock in a report on Thursday, July 21st. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $40.88.
Steven Madden Trading Down 3.1 %
Steven Madden Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Friday, December 16th will be given a dividend of $0.21 per share. The ex-dividend date is Thursday, December 15th. This represents a $0.84 dividend on an annualized basis and a yield of 2.53%. Steven Madden’s payout ratio is 26.58%.
About Steven Madden
Steven Madden, Ltd. designs, sources, markets, and sells fashion-forward branded and private label footwear, accessories, and apparel for women, men, and children in the United States and internationally. Its Wholesale Footwear segment provides footwear under the Steve Madden, Steven by Steve Madden, Madden Girl, BB Dakota, Dolce Vita, DV Dolce Vita, Betsey Johnson, GREATS, Blondo, Anne Klein, Mad Love, Superga, Madden NYC, and COOL Planet brands, as well as private label footwear.
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