Steven Madden, Ltd. (NASDAQ:SHOO) Shares Sold by Strs Ohio

Strs Ohio trimmed its holdings in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 12.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 27,100 shares of the textile maker’s stock after selling 4,000 shares during the quarter. Strs Ohio’s holdings in Steven Madden were worth $1,138,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Louisiana State Employees Retirement System acquired a new stake in shares of Steven Madden during the 4th quarter worth about $1,474,000. International Assets Investment Management LLC grew its position in Steven Madden by 4,100.0% in the 4th quarter. International Assets Investment Management LLC now owns 1,638 shares of the textile maker’s stock valued at $69,000 after acquiring an additional 1,599 shares in the last quarter. Pacer Advisors Inc. grew its position in Steven Madden by 30.7% in the 4th quarter. Pacer Advisors Inc. now owns 1,469,956 shares of the textile maker’s stock valued at $61,738,000 after acquiring an additional 345,558 shares in the last quarter. Raymond James & Associates grew its position in Steven Madden by 4.1% in the 4th quarter. Raymond James & Associates now owns 105,879 shares of the textile maker’s stock valued at $4,447,000 after acquiring an additional 4,136 shares in the last quarter. Finally, Vest Financial LLC acquired a new position in Steven Madden in the 4th quarter valued at about $238,000. 99.88% of the stock is owned by institutional investors and hedge funds.

Steven Madden Stock Performance

Shares of Steven Madden stock opened at $40.44 on Wednesday. The business has a 50-day simple moving average of $41.61 and a 200-day simple moving average of $39.67. The company has a market cap of $2.97 billion, a PE ratio of 17.58 and a beta of 1.16. Steven Madden, Ltd. has a one year low of $29.92 and a one year high of $45.63.

Steven Madden (NASDAQ:SHOO) last posted its earnings results on Wednesday, February 28th. The textile maker reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.05. The firm had revenue of $519.71 million during the quarter, compared to analysts’ expectations of $511.96 million. Steven Madden had a return on equity of 21.61% and a net margin of 8.67%. The firm’s revenue was up 10.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.44 earnings per share. On average, sell-side analysts predict that Steven Madden, Ltd. will post 2.61 earnings per share for the current fiscal year.

Steven Madden Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 2.08%. The ex-dividend date was Thursday, March 7th. Steven Madden’s payout ratio is 36.52%.

Insider Buying and Selling

In related news, CEO Edward R. Rosenfeld sold 48,500 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $41.49, for a total transaction of $2,012,265.00. Following the completion of the sale, the chief executive officer now owns 697,038 shares in the company, valued at $28,920,106.62. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Steven Madden news, CFO Zine Mazouzi sold 7,246 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $41.66, for a total value of $301,868.36. Following the completion of the sale, the chief financial officer now owns 68,785 shares in the company, valued at $2,865,583.10. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Edward R. Rosenfeld sold 48,500 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $41.49, for a total value of $2,012,265.00. Following the completion of the sale, the chief executive officer now owns 697,038 shares of the company’s stock, valued at approximately $28,920,106.62. The disclosure for this sale can be found here. Insiders sold a total of 59,346 shares of company stock worth $2,464,841 over the last 90 days. 2.01% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Piper Sandler assumed coverage on Steven Madden in a research report on Wednesday, February 14th. They issued a “neutral” rating and a $45.00 target price for the company. Jefferies Financial Group reaffirmed a “hold” rating and issued a $40.00 target price on shares of Steven Madden in a research report on Thursday, January 4th. Wedbush lifted their target price on Steven Madden from $36.00 to $38.00 and gave the company a “neutral” rating in a research report on Wednesday, February 7th. StockNews.com raised Steven Madden from a “hold” rating to a “buy” rating in a research report on Thursday, February 29th. Finally, Telsey Advisory Group boosted their price objective on Steven Madden from $39.00 to $44.00 and gave the stock a “market perform” rating in a research report on Thursday, February 29th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $41.38.

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.