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

State of New Jersey Common Pension Fund D reduced its stake in Steven Madden, Ltd. (NASDAQ:SHOO) by 1.9% during the 3rd quarter, Holdings Channel reports. The fund owned 43,923 shares of the textile maker’s stock after selling 871 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Steven Madden were worth $2,152,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of SHOO. Blue Trust Inc. increased its holdings in Steven Madden by 9,166.7% during the 2nd quarter. Blue Trust Inc. now owns 834 shares of the textile maker’s stock worth $35,000 after purchasing an additional 825 shares during the period. Exchange Traded Concepts LLC acquired a new stake in Steven Madden in the third quarter valued at approximately $59,000. GAMMA Investing LLC grew its holdings in Steven Madden by 80.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,329 shares of the textile maker’s stock worth $65,000 after acquiring an additional 593 shares in the last quarter. EntryPoint Capital LLC purchased a new stake in shares of Steven Madden in the 1st quarter valued at approximately $81,000. Finally, International Assets Investment Management LLC increased its position in shares of Steven Madden by 4,800.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,911 shares of the textile maker’s stock valued at $94,000 after purchasing an additional 1,872 shares during the last quarter. 99.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Telsey Advisory Group reissued a “market perform” rating and issued a $50.00 target price on shares of Steven Madden in a report on Wednesday. Citigroup raised their target price on Steven Madden from $43.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Wedbush reaffirmed a “neutral” rating and issued a $41.00 price target on shares of Steven Madden in a report on Wednesday, August 7th. Piper Sandler reissued a “neutral” rating and set a $45.00 price objective on shares of Steven Madden in a report on Friday, August 23rd. Finally, StockNews.com downgraded shares of Steven Madden from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Steven Madden has a consensus rating of “Hold” and a consensus target price of $45.43.

Steven Madden Stock Down 0.7 %

SHOO opened at $43.95 on Friday. The business has a 50 day moving average price of $46.42 and a two-hundred day moving average price of $44.28. Steven Madden, Ltd. has a 52 week low of $35.64 and a 52 week high of $50.01. The company has a market cap of $3.17 billion, a PE ratio of 18.70 and a beta of 1.08.

Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings data on Thursday, November 7th. The textile maker reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.02. The firm had revenue of $624.68 million for the quarter, compared to analyst estimates of $607.89 million. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. Steven Madden’s quarterly revenue was up 13.0% on a year-over-year basis. During the same period last year, the firm posted $0.88 EPS. As a group, sell-side analysts expect that Steven Madden, Ltd. will post 2.65 EPS for the current fiscal year.

Steven Madden Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a $0.21 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.84 dividend on an annualized basis and a yield of 1.91%. Steven Madden’s payout ratio is currently 35.74%.

Steven Madden Company 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.