Louisiana State Employees Retirement System Purchases Shares of 35,100 Steven Madden, Ltd. (NASDAQ:SHOO)

Louisiana State Employees Retirement System acquired a new stake in Steven Madden, Ltd. (NASDAQ:SHOO) during the fourth quarter, HoldingsChannel reports. The firm acquired 35,100 shares of the textile maker’s stock, valued at approximately $1,474,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Belpointe Asset Management LLC boosted its holdings in Steven Madden by 83.9% in the first 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 in the last quarter. Industrial Alliance Investment Management Inc. grew its position in shares of Steven Madden by 312.3% in the 4th quarter. Industrial Alliance Investment Management Inc. now owns 1,542 shares of the textile maker’s stock valued at $49,000 after buying an additional 1,168 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new stake in Steven Madden during the 2nd quarter worth $55,000. Dark Forest Capital Management LP purchased a new stake in Steven Madden in the first quarter valued at $56,000. Finally, International Assets Investment Management LLC boosted its stake in Steven Madden by 4,100.0% in the fourth quarter. International Assets Investment Management LLC now owns 1,638 shares of the textile maker’s stock valued at $69,000 after acquiring an additional 1,599 shares in the last quarter. Institutional investors and hedge funds own 99.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Jefferies Financial Group reiterated a “hold” rating and set a $40.00 target price on shares of Steven Madden in a research report on Thursday, January 4th. Citigroup boosted their price objective on Steven Madden from $41.00 to $43.00 and gave the company a “neutral” rating in a research note on Thursday, February 29th. StockNews.com upgraded shares of Steven Madden from a “hold” rating to a “buy” rating in a research report on Thursday, February 29th. Telsey Advisory Group upped their price target 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. Finally, Williams Trading reissued a “hold” rating and set a $44.00 price objective on shares of Steven Madden in a research report on Wednesday, February 21st. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Steven Madden has an average rating of “Hold” and a consensus target price of $41.38.

Steven Madden Stock Performance

Shares of SHOO opened at $39.12 on Friday. The stock has a market capitalization of $2.87 billion, a P/E ratio of 17.01 and a beta of 1.16. Steven Madden, Ltd. has a 1 year low of $29.92 and a 1 year high of $45.63. The company’s fifty day moving average is $41.71 and its two-hundred day moving average is $39.50.

Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings data on Wednesday, February 28th. The textile maker reported $0.61 EPS 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 during the quarter, compared to the consensus estimate of $511.96 million. During the same quarter last year, the firm earned $0.44 earnings per share. The firm’s revenue was up 10.4% compared to the same quarter last year. Sell-side analysts predict that Steven Madden, Ltd. will post 2.61 EPS for the current year.

Steven Madden Announces Dividend

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

Insiders Place Their Bets

In other news, EVP Lisa Keith sold 2,400 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $41.73, for a total transaction of $100,152.00. Following the transaction, the executive vice president now directly owns 20,687 shares of the company’s stock, valued at approximately $863,268.51. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, EVP Lisa Keith sold 2,400 shares of Steven Madden stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $41.73, for a total transaction of $100,152.00. Following the completion of the sale, the executive vice president now directly owns 20,687 shares in the company, valued at approximately $863,268.51. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Peter Allan Davis sold 1,200 shares of the company’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 value of $50,556.00. Following the completion of the sale, the director now owns 5,751 shares in the company, valued at approximately $242,289.63. The disclosure for this sale can be found here. Over the last quarter, insiders sold 59,346 shares of company stock worth $2,464,841. 2.01% of the stock is owned by corporate insiders.

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.