Texas Permanent School Fund Cuts Stock Holdings in Steven Madden, Ltd. (NASDAQ:SHOO)

Texas Permanent School Fund trimmed its position in shares of Steven Madden, Ltd. (NASDAQ:SHOOGet Rating) by 1.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 53,410 shares of the textile maker’s stock after selling 1,019 shares during the quarter. Texas Permanent School Fund owned 0.07% of Steven Madden worth $1,424,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Renaissance Technologies LLC raised its stake in Steven Madden by 232.1% in the 2nd quarter. Renaissance Technologies LLC now owns 949,678 shares of the textile maker’s stock valued at $30,589,000 after acquiring an additional 663,711 shares during the period. KBC Group NV purchased a new position in shares of Steven Madden during the second quarter worth about $216,000. State of New Jersey Common Pension Fund D grew its holdings in shares of Steven Madden by 5.5% during the second 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 purchasing an additional 3,399 shares in the last quarter. Duality Advisers LP purchased a new position in shares of Steven Madden during the second quarter worth about $859,000. Finally, Bridgewater Associates LP purchased a new stake in Steven Madden in the second quarter worth approximately $4,713,000. 95.30% of the stock is owned by hedge funds and other institutional investors.

Steven Madden Trading Down 0.1 %

SHOO opened at $33.20 on Friday. The stock has a fifty day simple moving average of $32.76 and a two-hundred day simple moving average of $31.48. The company has a market cap of $2.59 billion, a price-to-earnings ratio of 10.51 and a beta of 1.11. Steven Madden, Ltd. has a 12-month low of $26.36 and a 12-month high of $45.04.

Steven Madden (NASDAQ:SHOOGet Rating) last posted its quarterly earnings data on Wednesday, November 2nd. The textile maker reported $0.79 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.79. The business had revenue of $556.64 million during the quarter, compared to the consensus estimate of $532.33 million. Steven Madden had a return on equity of 30.37% and a net margin of 11.22%. On average, analysts predict that Steven Madden, Ltd. will post 2.81 EPS for the current year.

Steven Madden Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 30th. Stockholders of record on Friday, December 16th were issued a dividend of $0.21 per share. The ex-dividend date was Thursday, December 15th. This represents a $0.84 annualized dividend and a dividend yield of 2.53%. Steven Madden’s payout ratio is presently 26.58%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. CL King raised Steven Madden from a “neutral” rating to a “buy” rating in a research note on Wednesday, September 28th. Telsey Advisory Group dropped their price objective on Steven Madden from $38.00 to $34.00 and set a “market perform” rating for the company in a research note on Thursday, November 3rd. Wedbush lowered Steven Madden from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $43.00 to $29.00 in a research note on Tuesday, November 1st. Citigroup decreased their target price on Steven Madden from $36.00 to $31.00 and set a “neutral” rating for the company in a report on Friday, October 21st. Finally, Exane BNP Paribas assumed coverage on Steven Madden in a report on Wednesday, September 21st. They set an “outperform” rating for the company. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Steven Madden currently has a consensus rating of “Hold” and a consensus target price of $38.71.

Steven Madden Profile

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

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