State of Alaska Department of Revenue Sells 1,027 Shares of Steven Madden, Ltd. (NASDAQ:SHOO)

State of Alaska Department of Revenue reduced its position in Steven Madden, Ltd. (NASDAQ:SHOO) by 2.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,001 shares of the textile maker’s stock after selling 1,027 shares during the quarter. State of Alaska Department of Revenue owned 0.06% of Steven Madden worth $1,065,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Exchange Traded Concepts LLC grew its stake in Steven Madden by 795.9% in the first quarter. Exchange Traded Concepts LLC now owns 11,593 shares of the textile maker’s stock valued at $309,000 after purchasing an additional 10,299 shares during the last quarter. Fort Washington Investment Advisors Inc. OH grew its stake in Steven Madden by 6.2% in the first quarter. Fort Washington Investment Advisors Inc. OH now owns 491,626 shares of the textile maker’s stock valued at $13,097,000 after purchasing an additional 28,840 shares during the last quarter. CX Institutional acquired a new stake in Steven Madden in the first quarter worth about $32,000. SG Americas Securities LLC boosted its holdings in Steven Madden by 86.9% in the first quarter. SG Americas Securities LLC now owns 17,034 shares of the textile maker’s stock worth $454,000 after acquiring an additional 7,922 shares in the last quarter. Finally, Harbor Capital Advisors Inc. boosted its holdings in Steven Madden by 62.3% in the first quarter. Harbor Capital Advisors Inc. now owns 201,696 shares of the textile maker’s stock worth $5,373,000 after acquiring an additional 77,425 shares in the last quarter. 99.88% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on SHOO. Piper Sandler lowered their price target on Steven Madden from $35.00 to $25.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Telsey Advisory Group reissued a “market perform” rating and issued a $24.00 price target on shares of Steven Madden in a report on Wednesday, June 4th. Needham & Company LLC restated a “hold” rating on shares of Steven Madden in a research report on Friday, May 2nd. Citigroup cut their price objective on Steven Madden from $35.00 to $23.00 and set a “neutral” rating for the company in a research report on Thursday, May 1st. Finally, UBS Group boosted their price objective on Steven Madden from $22.00 to $23.00 and gave the company a “neutral” rating in a research report on Thursday, May 8th. Nine investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $28.50.

Steven Madden Price Performance

Shares of NASDAQ SHOO opened at $23.83 on Friday. The stock’s 50-day moving average is $23.67 and its two-hundred day moving average is $30.89. Steven Madden, Ltd. has a 1-year low of $19.05 and a 1-year high of $50.01. The company has a market cap of $1.73 billion, a price-to-earnings ratio of 10.27 and a beta of 1.12.

Steven Madden (NASDAQ:SHOO) last released its quarterly earnings data on Wednesday, May 7th. The textile maker reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.14. Steven Madden had a return on equity of 21.63% and a net margin of 7.26%. The business had revenue of $551.38 million for the quarter, compared to the consensus estimate of $557.81 million. During the same quarter in the prior year, the business posted $0.65 EPS. The business’s revenue for the quarter was up .2% on a year-over-year basis. Equities research analysts anticipate that Steven Madden, Ltd. will post 2.66 earnings per share for the current fiscal year.

Steven Madden Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Monday, June 9th were issued a $0.21 dividend. The ex-dividend date was Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.52%. Steven Madden’s payout ratio is currently 36.21%.

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.