Steven Madden, Ltd. $SHOO Stock Position Lifted by State of Alaska Department of Revenue

State of Alaska Department of Revenue raised its stake in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 8.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 43,248 shares of the textile maker’s stock after buying an additional 3,247 shares during the period. State of Alaska Department of Revenue owned about 0.06% of Steven Madden worth $1,036,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. CX Institutional purchased a new stake in shares of Steven Madden during the first quarter worth $32,000. Caitong International Asset Management Co. Ltd increased its position in Steven Madden by 328.8% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 2,161 shares of the textile maker’s stock worth $58,000 after purchasing an additional 1,657 shares during the last quarter. CWM LLC raised its stake in shares of Steven Madden by 231.0% during the 1st quarter. CWM LLC now owns 2,277 shares of the textile maker’s stock worth $61,000 after purchasing an additional 1,589 shares in the last quarter. Covestor Ltd lifted its holdings in shares of Steven Madden by 22.9% during the 1st quarter. Covestor Ltd now owns 4,906 shares of the textile maker’s stock valued at $130,000 after buying an additional 915 shares during the last quarter. Finally, Gagnon Securities LLC acquired a new stake in shares of Steven Madden during the 1st quarter valued at about $140,000. 99.88% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SHOO has been the topic of a number of recent analyst reports. Piper Sandler raised Steven Madden from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $25.00 to $40.00 in a research note on Monday, September 22nd. Telsey Advisory Group restated a “market perform” rating and issued a $26.00 price target (up from $24.00) on shares of Steven Madden in a research report on Wednesday, July 30th. Citigroup upgraded shares of Steven Madden from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $26.00 to $32.00 in a report on Thursday, July 17th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Steven Madden in a research report on Saturday, September 27th. Finally, Wall Street Zen downgraded Steven Madden from a “hold” rating to a “sell” rating in a research report on Saturday, August 16th. Two investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, Steven Madden presently has a consensus rating of “Hold” and a consensus price target of $31.80.

Steven Madden Price Performance

Shares of NASDAQ SHOO opened at $34.43 on Monday. The company has a quick ratio of 1.13, a current ratio of 2.01 and a debt-to-equity ratio of 0.33. The business’s 50 day moving average price is $29.23 and its two-hundred day moving average price is $25.90. The company has a market cap of $2.50 billion, a PE ratio of 27.11 and a beta of 1.22. Steven Madden, Ltd. has a twelve month low of $19.05 and a twelve month high of $49.38.

Steven Madden (NASDAQ:SHOO) last released its quarterly earnings results on Wednesday, July 30th. The textile maker reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.04). The company had revenue of $556.09 million during the quarter, compared to the consensus estimate of $575.83 million. Steven Madden had a net margin of 3.92% and a return on equity of 18.32%. The firm’s revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.57 earnings per share. On average, analysts predict that Steven Madden, Ltd. will post 2.66 EPS for the current year.

Steven Madden Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 23rd. Shareholders of record on Friday, September 12th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 2.4%. The ex-dividend date was Friday, September 12th. Steven Madden’s payout ratio is currently 66.14%.

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.