New York State Teachers Retirement System Lowers Stake in Steven Madden, Ltd. (NASDAQ:SHOO)

New York State Teachers Retirement System lowered its stake in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 0.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 85,414 shares of the textile maker’s stock after selling 700 shares during the period. New York State Teachers Retirement System’s holdings in Steven Madden were worth $3,587,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SHOO. Belpointe Asset Management LLC lifted its holdings in shares of Steven Madden by 83.9% during the 1st quarter. Belpointe Asset Management LLC now owns 997 shares of the textile maker’s stock valued at $36,000 after purchasing an additional 455 shares during the last quarter. Industrial Alliance Investment Management Inc. lifted its holdings in shares of Steven Madden by 312.3% during the 4th quarter. Industrial Alliance Investment Management Inc. now owns 1,542 shares of the textile maker’s stock valued at $49,000 after purchasing an additional 1,168 shares during the last quarter. Itau Unibanco Holding S.A. purchased a new stake in shares of Steven Madden during the 2nd quarter valued at $55,000. Dark Forest Capital Management LP purchased a new stake in shares of Steven Madden during the 1st quarter valued at $56,000. Finally, International Assets Investment Management LLC lifted its holdings in shares of 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 valued at $69,000 after purchasing an additional 1,599 shares during the last quarter. Hedge funds and other institutional investors own 99.88% of the company’s stock.

Analyst Ratings Changes

SHOO has been the subject of several analyst reports. StockNews.com upgraded Steven Madden from a “hold” rating to a “buy” rating in a report on Thursday, February 29th. Williams Trading reissued a “hold” rating and issued a $44.00 target price on shares of Steven Madden in a research report on Wednesday, February 21st. Jefferies Financial Group reissued a “hold” rating and issued a $40.00 target price on shares of Steven Madden in a research report on Thursday, January 4th. Piper Sandler initiated coverage on Steven Madden in a research report on Wednesday, February 14th. They issued a “neutral” rating and a $45.00 target price on the stock. Finally, Telsey Advisory Group upped their target price on Steven Madden from $39.00 to $44.00 and gave the company a “market perform” rating in a research report on Thursday, February 29th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $41.38.

Insider Transactions at Steven Madden

In other news, CEO Edward R. Rosenfeld sold 48,500 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $41.49, for a total transaction of $2,012,265.00. Following the sale, the chief executive officer now directly owns 697,038 shares of the company’s stock, valued at approximately $28,920,106.62. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CEO Edward R. Rosenfeld sold 48,500 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $41.49, for a total transaction of $2,012,265.00. Following the sale, the chief executive officer now directly owns 697,038 shares of the company’s stock, valued at approximately $28,920,106.62. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Lisa Keith sold 2,400 shares of the stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $41.73, for a total transaction of $100,152.00. Following the sale, the executive vice president now directly owns 20,687 shares in the company, valued at $863,268.51. The disclosure for this sale can be found here. Insiders have sold a total of 59,346 shares of company stock valued at $2,464,841 in the last ninety days. 2.01% of the stock is currently owned by corporate insiders.

Steven Madden Stock Performance

Shares of SHOO opened at $39.09 on Monday. The business’s 50-day moving average is $41.95 and its two-hundred day moving average is $39.29. The company has a market capitalization of $2.87 billion, a P/E ratio of 17.00 and a beta of 1.16. Steven Madden, Ltd. has a fifty-two week low of $29.92 and a fifty-two week high of $45.63.

Steven Madden (NASDAQ:SHOO) last announced 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 return on equity of 21.61% and a net margin of 8.67%. The company 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 earned $0.44 EPS. The firm’s revenue for the quarter was up 10.4% compared to the same quarter last year. Analysts forecast that Steven Madden, Ltd. will post 2.61 EPS for the current year.

Steven Madden Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.15%. The ex-dividend date of this dividend was Thursday, March 7th. Steven Madden’s payout ratio is currently 36.52%.

Steven Madden 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.