State of New Jersey Common Pension Fund D Has $1.90 Million Stock Holdings in Steven Madden, Ltd. (NASDAQ:SHOO)

State of New Jersey Common Pension Fund D cut its holdings in Steven Madden, Ltd. (NASDAQ:SHOO) by 32.4% in the 2nd quarter, Holdings Channel.com reports. The firm owned 44,794 shares of the textile maker’s stock after selling 21,445 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Steven Madden were worth $1,895,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Blue Trust Inc. grew its position in shares of Steven Madden by 9,166.7% in the 2nd quarter. Blue Trust Inc. now owns 834 shares of the textile maker’s stock valued at $35,000 after purchasing an additional 825 shares during the period. Fidelis Capital Partners LLC acquired a new position in Steven Madden during the 1st quarter worth approximately $47,000. EntryPoint Capital LLC acquired a new position in Steven Madden during the 1st quarter worth approximately $81,000. nVerses Capital LLC boosted its position in Steven Madden by 3,600.0% during the 2nd quarter. nVerses Capital LLC now owns 3,700 shares of the textile maker’s stock worth $157,000 after acquiring an additional 3,600 shares during the last quarter. Finally, Central Pacific Bank Trust Division acquired a new position in Steven Madden during the 1st quarter worth approximately $170,000. 99.88% of the stock is currently owned by institutional investors and hedge funds.

Steven Madden Stock Down 0.9 %

Shares of Steven Madden stock opened at $47.47 on Monday. Steven Madden, Ltd. has a 12-month low of $30.35 and a 12-month high of $48.76. The stock has a market cap of $3.48 billion, a P/E ratio of 19.62 and a beta of 1.08. The business’s 50 day moving average is $44.17 and its 200-day moving average is $42.69.

Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings results on Wednesday, July 31st. The textile maker reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.06. Steven Madden had a return on equity of 23.49% and a net margin of 8.36%. The business had revenue of $523.60 million for the quarter, compared to analysts’ expectations of $515.15 million. During the same quarter in the prior year, the business earned $0.47 EPS. The firm’s revenue for the quarter was up 17.6% on a year-over-year basis. On average, sell-side analysts expect that Steven Madden, Ltd. will post 2.62 EPS for the current year.

Steven Madden Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Friday, September 13th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date is Friday, September 13th. Steven Madden’s dividend payout ratio (DPR) is presently 34.71%.

Wall Street Analysts Forecast Growth

SHOO has been the subject of a number of recent research reports. Piper Sandler reaffirmed a “neutral” rating and set a $45.00 price target on shares of Steven Madden in a research report on Friday, August 23rd. Telsey Advisory Group reaffirmed a “market perform” rating and set a $44.00 price target on shares of Steven Madden in a research report on Wednesday, July 31st. Wedbush reaffirmed a “neutral” rating and set a $41.00 price target on shares of Steven Madden in a research report on Wednesday, August 7th. StockNews.com raised Steven Madden from a “hold” rating to a “buy” rating in a research report on Wednesday, September 18th. Finally, BTIG Research upped their price objective on Steven Madden from $50.00 to $53.00 and gave the stock a “buy” rating in a research note on Thursday, June 6th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $44.29.

About Steven Madden

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.