Steven Madden, Ltd. (SHOO) Position Reduced by State of Tennessee Treasury Department
State of Tennessee Treasury Department trimmed its position in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 5.9% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,238 shares of the textile maker’s stock after selling 3,049 shares during the period. State of Tennessee Treasury Department owned approximately 0.08% of Steven Madden worth $2,089,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in SHOO. Riverhead Capital Management LLC lifted its stake in Steven Madden by 97.1% during the second quarter. Riverhead Capital Management LLC now owns 2,562 shares of the textile maker’s stock worth $102,000 after purchasing an additional 1,262 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in Steven Madden during the second quarter worth $127,000. First Mercantile Trust Co. lifted its stake in Steven Madden by 1.7% during the second quarter. First Mercantile Trust Co. now owns 3,570 shares of the textile maker’s stock worth $143,000 after purchasing an additional 60 shares in the last quarter. Fortaleza Asset Management Inc. acquired a new position in Steven Madden during the third quarter worth $158,000. Finally, Public Employees Retirement System of Ohio lifted its stake in Steven Madden by 9.7% during the first quarter. Public Employees Retirement System of Ohio now owns 4,575 shares of the textile maker’s stock worth $176,000 after purchasing an additional 403 shares in the last quarter. Institutional investors own 91.44% of the company’s stock.
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Shares of Steven Madden, Ltd. (SHOO) opened at $39.30 on Monday. Steven Madden, Ltd. has a 12-month low of $33.50 and a 12-month high of $44.40. The firm has a market capitalization of $2,322.76, a price-to-earnings ratio of 17.55, a PEG ratio of 1.48 and a beta of 0.48.
Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings data on Tuesday, October 31st. The textile maker reported $0.77 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.77. Steven Madden had a return on equity of 17.21% and a net margin of 8.04%. The business had revenue of $441.19 million for the quarter, compared to analyst estimates of $441.03 million. During the same quarter in the prior year, the company earned $0.74 earnings per share. The company’s revenue was up 8.0% on a year-over-year basis. analysts predict that Steven Madden, Ltd. will post 2.21 earnings per share for the current fiscal year.
In related news, Director Richard P. Randall sold 2,000 shares of the stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $38.05, for a total value of $76,100.00. Following the transaction, the director now owns 22,809 shares of the company’s stock, valued at $867,882.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.06% of the company’s stock.
A number of research analysts have commented on the company. B. Riley restated a “buy” rating and set a $47.00 price target on shares of Steven Madden in a research note on Wednesday, August 2nd. BidaskClub upgraded Steven Madden from a “hold” rating to a “buy” rating in a research note on Thursday, August 10th. Canaccord Genuity set a $47.00 price target on Steven Madden and gave the stock a “buy” rating in a research note on Wednesday, August 2nd. Telsey Advisory Group upped their price target on Steven Madden from $41.00 to $45.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 2nd. Finally, Jefferies Group LLC restated a “hold” rating and set a $39.00 price target (up from $37.00) on shares of Steven Madden in a research note on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $43.96.
Steven Madden 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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