Arizona State Retirement System Sells 559 Shares of Steven Madden, Ltd. (NASDAQ:SHOO)

Arizona State Retirement System lessened its holdings in Steven Madden, Ltd. (NASDAQ:SHOO) by 2.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 20,001 shares of the textile maker’s stock after selling 559 shares during the quarter. Arizona State Retirement System’s holdings in Steven Madden were worth $840,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Balyasny Asset Management L.P. bought a new stake in Steven Madden during the first quarter worth about $47,876,000. Wellington Management Group LLP raised its stake in Steven Madden by 9.4% during the first quarter. Wellington Management Group LLP now owns 7,529,549 shares of the textile maker’s stock worth $290,941,000 after acquiring an additional 648,822 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Steven Madden by 71.9% in the fourth quarter. Victory Capital Management Inc. now owns 1,347,639 shares of the textile maker’s stock valued at $43,071,000 after buying an additional 563,607 shares during the period. Norges Bank acquired a new position in shares of Steven Madden in the fourth quarter valued at approximately $15,660,000. Finally, Lazard Asset Management LLC increased its stake in shares of Steven Madden by 348.9% in the third quarter. Lazard Asset Management LLC now owns 447,018 shares of the textile maker’s stock valued at $14,201,000 after buying an additional 347,431 shares during the period. Institutional investors own 99.88% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on SHOO. StockNews.com raised Steven Madden from a “hold” rating to a “buy” rating in a research note on Thursday, February 29th. Telsey Advisory Group increased their target price on shares of Steven Madden from $39.00 to $44.00 and gave the company a “market perform” rating in a research report on Thursday, February 29th. Williams Trading reissued a “hold” rating and set 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 set a $40.00 target price on shares of Steven Madden in a research report on Thursday, January 4th. Finally, Wedbush increased their price target on Steven Madden from $36.00 to $38.00 and gave the stock a “neutral” rating in a report on Wednesday, February 7th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Steven Madden presently has a consensus rating of “Hold” and an average target price of $41.38.

Insider Activity at Steven Madden

In related news, Director Peter Allan Davis sold 1,200 shares of the company’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 sale, the director now directly owns 5,751 shares in the company, valued at approximately $242,289.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Edward R. Rosenfeld sold 48,500 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $41.49, for a total value of $2,012,265.00. Following the completion of the transaction, 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 legal filing with the SEC, which can be accessed through this link. Also, Director Peter Allan Davis sold 1,200 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $42.13, for a total transaction of $50,556.00. Following the completion of the transaction, the director now directly owns 5,751 shares of the company’s stock, valued at $242,289.63. The disclosure for this sale can be found here. In the last three months, insiders have sold 59,346 shares of company stock worth $2,464,841. Company insiders own 2.01% of the company’s stock.

Steven Madden Stock Performance

Shares of NASDAQ:SHOO opened at $38.81 on Thursday. The company has a market capitalization of $2.85 billion, a P/E ratio of 16.87 and a beta of 1.16. The company’s 50-day moving average is $41.82 and its 200 day moving average is $39.39. 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 released its earnings results on Wednesday, February 28th. The textile maker reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $511.96 million. During the same period in the previous year, the company earned $0.44 earnings per share. The company’s quarterly revenue was up 10.4% on a year-over-year basis. As a group, research analysts predict that Steven Madden, Ltd. will post 2.61 earnings per share for the current year.

Steven Madden Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.16%. The ex-dividend date was Thursday, March 7th. Steven Madden’s dividend payout ratio (DPR) 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.