Steven Madden, Ltd. (SHOO) Shares Sold by Public Sector Pension investment Board
Public Sector Pension investment Board lowered its stake in Steven Madden, Ltd. (NASDAQ:SHOO) by 29.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,752 shares of the textile maker’s stock after selling 11,400 shares during the quarter. Public Sector Pension investment Board owned about 0.05% of Steven Madden worth $1,109,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of SHOO. Riverhead Capital Management LLC grew its position in Steven Madden by 97.1% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,562 shares of the textile maker’s stock valued at $102,000 after buying an additional 1,262 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in Steven Madden during the 2nd quarter valued at about $127,000. First Mercantile Trust Co. increased its stake in Steven Madden by 1.7% during the 2nd quarter. First Mercantile Trust Co. now owns 3,570 shares of the textile maker’s stock valued at $143,000 after buying an additional 60 shares during the period. Public Employees Retirement System of Ohio increased its stake in Steven Madden by 9.7% during the 1st quarter. Public Employees Retirement System of Ohio now owns 4,575 shares of the textile maker’s stock valued at $176,000 after buying an additional 403 shares during the period. Finally, IFP Advisors Inc increased its stake in Steven Madden by 3,804.2% during the 2nd quarter. IFP Advisors Inc now owns 4,607 shares of the textile maker’s stock valued at $184,000 after buying an additional 4,489 shares during the period. 91.32% of the stock is owned by institutional investors and hedge funds.
Shares of Steven Madden, Ltd. (SHOO) opened at 43.30 on Monday. The stock’s 50 day moving average price is $41.95 and its 200 day moving average price is $39.28. Steven Madden, Ltd. has a 1-year low of $32.30 and a 1-year high of $43.80. The company has a market capitalization of $2.56 billion, a price-to-earnings ratio of 20.85 and a beta of 0.51.
Steven Madden (NASDAQ:SHOO) last issued its earnings results on Tuesday, August 1st. The textile maker reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.06. The company had revenue of $374.15 million for the quarter, compared to analyst estimates of $355.22 million. Steven Madden had a net margin of 8.19% and a return on equity of 17.57%. The company’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.42 EPS. Analysts expect that Steven Madden, Ltd. will post $2.25 EPS for the current year.
A number of analysts have recently weighed in on SHOO shares. Zacks Investment Research raised shares of Steven Madden from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a research note on Tuesday, June 27th. ValuEngine upgraded shares of Steven Madden from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Piper Jaffray Companies reiterated a “buy” rating and set a $45.00 price objective on shares of Steven Madden in a research note on Thursday, August 3rd. BidaskClub raised Steven Madden from a “hold” rating to a “buy” rating in a report on Wednesday, July 5th. Finally, Canaccord Genuity boosted their target price on Steven Madden from $45.00 to $46.00 and gave the stock a “buy” rating in a report on Monday, June 5th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $43.96.
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Steven Madden Company Profile
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.
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