Maryland State Retirement & Pension System Sells 587 Shares of Steven Madden, Ltd. (NASDAQ:SHOO)

Maryland State Retirement & Pension System lessened its stake in Steven Madden, Ltd. (NASDAQ:SHOO) by 2.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 25,489 shares of the textile maker’s stock after selling 587 shares during the period. Maryland State Retirement & Pension System’s holdings in Steven Madden were worth $1,071,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of SHOO. abrdn plc bought a new stake in shares of Steven Madden during the fourth quarter worth $20,351,000. Victory Capital Management Inc. increased its position in Steven Madden by 52.9% in the third quarter. Victory Capital Management Inc. now owns 1,319,809 shares of the textile maker’s stock worth $41,930,000 after purchasing an additional 456,412 shares during the period. Lazard Asset Management LLC raised its holdings in Steven Madden by 348.9% during the 3rd quarter. Lazard Asset Management LLC now owns 447,018 shares of the textile maker’s stock worth $14,201,000 after purchasing an additional 347,431 shares during the last quarter. Pacer Advisors Inc. lifted its position in Steven Madden by 30.7% during the 4th quarter. Pacer Advisors Inc. now owns 1,469,956 shares of the textile maker’s stock valued at $61,738,000 after purchasing an additional 345,558 shares during the period. Finally, Wellington Management Group LLP boosted its stake in shares of Steven Madden by 5.3% in the 3rd quarter. Wellington Management Group LLP now owns 6,264,768 shares of the textile maker’s stock valued at $199,032,000 after purchasing an additional 316,676 shares during the last quarter. Institutional investors and hedge funds own 99.88% of the company’s stock.

Steven Madden Stock Up 2.1 %

SHOO opened at $41.62 on Friday. The company has a fifty day simple moving average of $40.85 and a 200 day simple moving average of $40.22. The stock has a market cap of $3.05 billion, a P/E ratio of 17.20 and a beta of 1.15. Steven Madden, Ltd. has a 12 month low of $29.92 and a 12 month high of $45.63.

Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings results on Wednesday, May 1st. The textile maker reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.09. Steven Madden had a return on equity of 22.68% and a net margin of 8.65%. The company had revenue of $552.38 million during the quarter, compared to the consensus estimate of $525.04 million. During the same period in the prior year, the company earned $0.50 earnings per share. The company’s revenue for the quarter was up 19.1% compared to the same quarter last year. On average, equities research analysts expect that Steven Madden, Ltd. will post 2.62 earnings per share for the current fiscal year.

Steven Madden Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Monday, June 10th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $0.84 annualized dividend and a yield of 2.02%. Steven Madden’s dividend payout ratio (DPR) is currently 34.71%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. StockNews.com raised shares of Steven Madden from a “hold” rating to a “buy” rating in a research note on Thursday, February 29th. Telsey Advisory Group reiterated a “market perform” rating and set a $44.00 target price on shares of Steven Madden in a research report on Friday, April 26th. Wedbush raised their price target on Steven Madden from $36.00 to $38.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 7th. Piper Sandler assumed coverage on Steven Madden in a research note on Wednesday, February 14th. They set a “neutral” rating and a $45.00 price objective for the company. Finally, Citigroup increased their target price on Steven Madden from $41.00 to $43.00 and gave the company a “neutral” rating in a research note on Thursday, February 29th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $41.38.

Insider Buying and Selling at Steven Madden

In other news, Director Peter Allan Davis sold 1,200 shares of the stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $42.13, for a total transaction of $50,556.00. Following the completion of the sale, the director now owns 5,751 shares of the company’s stock, valued at $242,289.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Lisa Keith sold 2,400 shares of Steven Madden stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $41.73, for a total value of $100,152.00. Following the sale, the executive vice president now owns 20,687 shares of the company’s stock, valued at approximately $863,268.51. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Peter Allan Davis sold 1,200 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $42.13, for a total value of $50,556.00. Following the transaction, the director now directly owns 5,751 shares of the company’s stock, valued at approximately $242,289.63. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 59,346 shares of company stock valued at $2,464,841. 2.08% of the stock is currently owned by corporate insiders.

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.