State of Tennessee Department of Treasury Purchases 8,824 Shares of Steven Madden, Ltd. (NASDAQ:SHOO)

State of Tennessee Department of Treasury boosted its position in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 21.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 50,471 shares of the textile maker’s stock after buying an additional 8,824 shares during the period. State of Tennessee Department of Treasury owned approximately 0.07% of Steven Madden worth $2,146,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pacer Advisors Inc. bought a new stake in shares of Steven Madden in the 4th quarter valued at approximately $72,795,000. First Trust Advisors LP lifted its stake in shares of Steven Madden by 36.9% in the 4th quarter. First Trust Advisors LP now owns 2,002,228 shares of the textile maker’s stock valued at $85,135,000 after purchasing an additional 539,738 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Steven Madden in the 4th quarter valued at approximately $13,652,000. Norges Bank bought a new stake in shares of Steven Madden in the 4th quarter valued at approximately $9,399,000. Finally, Trexquant Investment LP lifted its stake in shares of Steven Madden by 147.3% in the 4th quarter. Trexquant Investment LP now owns 257,334 shares of the textile maker’s stock valued at $10,942,000 after purchasing an additional 153,280 shares during the last quarter. 99.88% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on SHOO shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Steven Madden in a research note on Thursday, February 27th. Piper Sandler reduced their price target on Steven Madden from $35.00 to $25.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. StockNews.com downgraded Steven Madden from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. UBS Group reduced their price target on Steven Madden from $24.00 to $22.00 and set a “neutral” rating on the stock in a report on Wednesday, April 23rd. Finally, Loop Capital reduced their price target on Steven Madden from $40.00 to $35.00 and set a “hold” rating on the stock in a report on Thursday, February 27th. Nine investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Steven Madden currently has a consensus rating of “Hold” and an average target price of $35.57.

Steven Madden Stock Up 0.6 %

SHOO opened at $20.92 on Tuesday. The stock’s fifty day moving average is $25.99 and its two-hundred day moving average is $37.00. The company has a market capitalization of $1.52 billion, a P/E ratio of 8.90 and a beta of 0.98. Steven Madden, Ltd. has a 52 week low of $19.05 and a 52 week high of $50.01.

Steven Madden (NASDAQ:SHOO) last released its quarterly earnings data on Wednesday, February 26th. The textile maker reported $0.55 EPS for the quarter, topping the consensus estimate of $0.53 by $0.02. The company had revenue of $582.32 million for the quarter, compared to the consensus estimate of $550.37 million. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. Equities analysts anticipate that Steven Madden, Ltd. will post 2.66 earnings per share for the current year.

Steven Madden Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 10th were issued a $0.21 dividend. The ex-dividend date was Monday, March 10th. This represents a $0.84 dividend on an annualized basis and a yield of 4.02%. Steven Madden’s dividend payout ratio is presently 35.74%.

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.