New York State Common Retirement Fund decreased its holdings in shares of Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 44.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,495 shares of the textile maker's stock after selling 17,723 shares during the period. New York State Common Retirement Fund's holdings in Steven Madden were worth $956,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pacer Advisors Inc. purchased a new position in shares of Steven Madden in the fourth quarter worth approximately $72,795,000. FMR LLC grew its holdings in Steven Madden by 8,180.4% during the 3rd quarter. FMR LLC now owns 535,081 shares of the textile maker's stock valued at $26,214,000 after buying an additional 528,619 shares in the last quarter. Weiss Asset Management LP purchased a new position in shares of Steven Madden in the third quarter valued at $12,558,000. Barclays PLC increased its holdings in shares of Steven Madden by 286.9% in the 3rd quarter. Barclays PLC now owns 139,206 shares of the textile maker's stock worth $6,819,000 after buying an additional 103,226 shares during the last quarter. Finally, Edgestream Partners L.P. boosted its holdings in shares of Steven Madden by 269.7% in the 3rd quarter. Edgestream Partners L.P. now owns 134,716 shares of the textile maker's stock worth $6,600,000 after purchasing an additional 98,274 shares during the period. Hedge funds and other institutional investors own 99.88% of the company's stock.
Steven Madden Price Performance
SHOO stock traded down $0.17 during trading on Friday, hitting $29.26. The stock had a trading volume of 436,805 shares, compared to its average volume of 726,677. The company's 50-day moving average price is $39.31 and its two-hundred day moving average price is $43.20. Steven Madden, Ltd. has a twelve month low of $28.47 and a twelve month high of $50.01. The stock has a market capitalization of $2.11 billion, a P/E ratio of 12.45 and a beta of 1.07.
Steven Madden (NASDAQ:SHOO - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The textile maker reported $0.55 earnings per share for the quarter, beating analysts' consensus estimates of $0.53 by $0.02. The company had revenue of $582.32 million for the quarter, compared to analyst estimates of $550.37 million. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. As a group, sell-side analysts expect that Steven Madden, Ltd. will post 2.66 EPS for the current fiscal year.
Steven Madden Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Monday, March 10th will be issued a $0.21 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.84 annualized dividend and a dividend yield of 2.87%. Steven Madden's dividend payout ratio is presently 35.74%.
Analyst Ratings Changes
A number of analysts recently issued reports on the company. Citigroup lowered their price target on Steven Madden from $38.00 to $35.00 and set a "neutral" rating for the company in a report on Thursday, February 27th. Telsey Advisory Group reduced their target price on Steven Madden from $44.00 to $38.00 and set a "market perform" rating on the stock in a research report on Thursday, February 27th. Loop Capital dropped their price objective on shares of Steven Madden from $40.00 to $35.00 and set a "hold" rating on the stock in a report on Thursday, February 27th. Jefferies Financial Group reiterated a "hold" rating on shares of Steven Madden in a report on Monday, February 3rd. Finally, Needham & Company LLC restated a "hold" rating on shares of Steven Madden in a research note on Thursday, February 27th. Eight analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $40.33.
View Our Latest Stock Report on Steven Madden
Steven Madden Profile
(
Free Report)
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.
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