Teachers Advisors LLC raised its position in Steven Madden, Ltd. (NASDAQ:SHOO) by 92.0% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 557,535 shares of the textile maker’s stock after buying an additional 267,183 shares during the period. Teachers Advisors LLC owned approximately 1.00% of Steven Madden worth $21,493,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Elkfork Partners LLC boosted its stake in shares of Steven Madden by 17.5% in the first quarter. Elkfork Partners LLC now owns 2,662 shares of the textile maker’s stock worth $103,000 after buying an additional 396 shares during the period. TrimTabs Asset Management LLC boosted its stake in shares of Steven Madden by 89.1% in the first quarter. TrimTabs Asset Management LLC now owns 3,023 shares of the textile maker’s stock worth $117,000 after buying an additional 1,424 shares during the period. Meadow Creek Investment Management LLC boosted its stake in shares of Steven Madden by 17.5% in the first quarter. Meadow Creek Investment Management LLC now owns 3,388 shares of the textile maker’s stock worth $131,000 after buying an additional 504 shares during the period. Glen Harbor Capital Management LLC boosted its stake in shares of Steven Madden by 17.5% in the first quarter. Glen Harbor Capital Management LLC now owns 4,114 shares of the textile maker’s stock worth $159,000 after buying an additional 612 shares during the period. Finally, Ameritas Investment Partners Inc. acquired a new stake in shares of Steven Madden during the first quarter worth $205,000. 91.16% of the stock is currently owned by institutional investors.

Shares of Steven Madden, Ltd. (SHOO) traded up 0.24% during trading on Tuesday, reaching $42.50. 453,107 shares of the company were exchanged. The stock has a market capitalization of $2.34 billion, a P/E ratio of 20.46 and a beta of 0.53. Steven Madden, Ltd. has a 52-week low of $32.30 and a 52-week high of $43.15. The stock has a 50-day moving average of $39.57 and a 200 day moving average of $37.86.

Steven Madden (NASDAQ:SHOO) last released its quarterly earnings results on Tuesday, August 1st. The textile maker reported $0.51 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.06. Steven Madden had a return on equity of 17.57% and a net margin of 8.19%. The business had revenue of $374.15 million during the quarter, compared to analysts’ expectations of $355.22 million. During the same period in the previous year, the business posted $0.42 earnings per share. The firm’s revenue for the quarter was up 15.0% compared to the same quarter last year. On average, equities analysts anticipate that Steven Madden, Ltd. will post $2.25 earnings per share for the current fiscal year.

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A number of brokerages have weighed in on SHOO. Jefferies Group LLC set a $37.00 target price on shares of Steven Madden and gave the stock a “hold” rating in a report on Saturday, May 13th. Canaccord Genuity set a $47.00 price target on shares of Steven Madden and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. Telsey Advisory Group upped their price target on shares of Steven Madden from $41.00 to $45.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 2nd. B. Riley restated a “buy” rating and set a $47.00 price target on shares of Steven Madden in a research report on Wednesday, August 2nd. Finally, Piper Jaffray Companies restated a “buy” rating and set a $44.00 price target on shares of Steven Madden in a research report on Wednesday, July 26th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $43.32.

In related news, Director Rose Peabody Lynch sold 2,240 shares of Steven Madden stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $39.32, for a total value of $88,076.80. Following the completion of the sale, the director now directly owns 4,754 shares in the company, valued at $186,927.28. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Karla Frieders sold 5,000 shares of Steven Madden stock in a transaction dated Monday, June 19th. The stock was sold at an average price of $38.61, for a total value of $193,050.00. Following the completion of the sale, the insider now owns 83,216 shares of the company’s stock, valued at $3,212,969.76. The disclosure for this sale can be found here. Insiders sold 122,740 shares of company stock valued at $4,832,677 over the last ninety days. 2.20% of the stock is currently owned by company insiders.

About Steven Madden

Steven Madden, Ltd. and its subsidiaries design, source, market and sell name brand and private label footwear for women, men and children, and name brand and private label fashion handbags and accessories. The Company operates through five segments: Wholesale Footwear, Wholesale Accessories, Retail, First Cost and Licensing.

Institutional Ownership by Quarter for Steven Madden (NASDAQ:SHOO)

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