Steven Madden, Ltd. (NASDAQ:SHOO) Position Cut by New York State Common Retirement Fund

New York State Common Retirement Fund lowered its position in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 7.4% in the 4th quarter, Holdings Channel reports. The fund owned 67,212 shares of the textile maker’s stock after selling 5,360 shares during the period. New York State Common Retirement Fund’s holdings in Steven Madden were worth $2,823,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of SHOO. International Assets Investment Management LLC boosted its stake in 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 period. Covestor Ltd raised its holdings in shares of Steven Madden by 32.9% during the third quarter. Covestor Ltd now owns 5,320 shares of the textile maker’s stock valued at $169,000 after buying an additional 1,316 shares during the last quarter. Mackenzie Financial Corp bought a new stake in shares of Steven Madden during the fourth quarter valued at approximately $207,000. Vest Financial LLC acquired a new position in shares of Steven Madden during the fourth quarter worth approximately $238,000. Finally, O Shaughnessy Asset Management LLC grew its holdings in Steven Madden by 5.1% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 7,544 shares of the textile maker’s stock worth $240,000 after buying an additional 363 shares in the last quarter. Institutional investors and hedge funds own 99.88% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Edward R. Rosenfeld sold 48,500 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 697,038 shares in the company, 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 Steven Madden news, EVP Lisa Keith sold 2,400 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $41.73, for a total value of $100,152.00. Following the completion of the sale, the executive vice president now owns 20,687 shares of the company’s stock, valued at $863,268.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, 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 value of $2,012,265.00. Following the transaction, the chief executive officer now directly owns 697,038 shares in the company, valued at approximately $28,920,106.62. The disclosure for this sale can be found here. Insiders sold a total of 59,346 shares of company stock worth $2,464,841 in the last quarter. 2.08% of the stock is currently owned by corporate insiders.

Steven Madden Stock Up 2.3 %

Shares of NASDAQ:SHOO opened at $40.49 on Tuesday. The company’s fifty day moving average is $40.99 and its two-hundred day moving average is $40.15. The company has a market cap of $2.97 billion, a P/E ratio of 16.73 and a beta of 1.15. Steven Madden, Ltd. has a 12-month low of $29.92 and a 12-month high of $45.63.

Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings data on Wednesday, May 1st. The textile maker reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.09. Steven Madden had a return on equity of 22.68% and a net margin of 8.65%. The firm had revenue of $552.38 million during the quarter, compared to the consensus estimate of $525.04 million. During the same period in the prior year, the business earned $0.50 EPS. The business’s revenue for the quarter was up 19.1% on a year-over-year basis. Equities research analysts anticipate that Steven Madden, Ltd. will post 2.62 earnings per share for the current year.

Steven Madden Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Monday, June 10th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $0.84 annualized dividend and a yield of 2.07%. Steven Madden’s dividend payout ratio is presently 34.71%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SHOO. Telsey Advisory Group restated a “market perform” rating and set a $44.00 price objective on shares of Steven Madden in a research note on Friday, April 26th. StockNews.com raised Steven Madden from a “hold” rating to a “buy” rating in a research note on Thursday, February 29th. Piper Sandler started coverage on Steven Madden in a research note on Wednesday, February 14th. They set a “neutral” rating and a $45.00 target price for the company. Wedbush boosted their price target on shares of Steven Madden from $36.00 to $38.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 7th. Finally, Citigroup raised their price objective on shares of Steven Madden from $41.00 to $43.00 and gave the company a “neutral” rating in a research report on Thursday, February 29th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Steven Madden presently has an average rating of “Hold” and an average target price of $41.38.

About Steven Madden

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.