Steven Madden, Ltd. (NASDAQ:SHOO) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund cut its stake in Steven Madden, Ltd. (NASDAQ:SHOO) by 7.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 67,212 shares of the textile maker’s stock after selling 5,360 shares during the period. New York State Common Retirement Fund owned about 0.09% of Steven Madden worth $2,823,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. International Assets Investment Management LLC boosted its stake in shares of 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 buying an additional 1,599 shares during the period. Covestor Ltd lifted its stake in Steven Madden by 32.9% in the third quarter. Covestor Ltd now owns 5,320 shares of the textile maker’s stock worth $169,000 after acquiring an additional 1,316 shares during the last quarter. Mackenzie Financial Corp acquired a new position in Steven Madden during the 4th quarter worth approximately $207,000. Vest Financial LLC purchased a new stake in shares of Steven Madden in the 4th quarter valued at approximately $238,000. Finally, O Shaughnessy Asset Management LLC raised its holdings in shares of Steven Madden by 5.1% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 7,544 shares of the textile maker’s stock valued at $240,000 after purchasing an additional 363 shares in the last quarter. 99.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on SHOO shares. Wedbush increased their target price on Steven Madden from $36.00 to $38.00 and gave the company a “neutral” rating in a report on Wednesday, February 7th. Citigroup raised their target price on Steven Madden from $41.00 to $43.00 and gave the stock a “neutral” rating in a research report on Thursday, February 29th. StockNews.com upgraded shares of Steven Madden from a “hold” rating to a “buy” rating in a research note on Thursday, February 29th. Williams Trading restated a “hold” rating and set a $44.00 price objective on shares of Steven Madden in a research report on Wednesday, February 21st. Finally, Piper Sandler initiated coverage on shares of Steven Madden in a research report on Wednesday, February 14th. They issued a “neutral” rating and a $45.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $41.38.

Insider Buying and Selling

In other Steven Madden news, CEO Edward R. Rosenfeld sold 48,500 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now directly owns 697,038 shares of the company’s stock, valued at approximately $28,920,106.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Peter Allan Davis sold 1,200 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $42.13, for a total value of $50,556.00. Following the completion of the sale, the director now directly owns 5,751 shares of the company’s stock, valued at approximately $242,289.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Edward R. Rosenfeld sold 48,500 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $41.49, for a total value of $2,012,265.00. Following the transaction, the chief executive officer now directly owns 697,038 shares in the company, 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 valued at $2,464,841 over the last three months. 2.08% of the stock is currently owned by company insiders.

Steven Madden Stock Performance

Shares of Steven Madden stock opened at $40.49 on Tuesday. The company has a market capitalization of $2.97 billion, a P/E ratio of 16.73 and a beta of 1.15. Steven Madden, Ltd. has a 1 year low of $29.92 and a 1 year high of $45.63. The company’s fifty day moving average is $40.99 and its two-hundred day moving average is $40.15.

Steven Madden (NASDAQ:SHOO) last released its quarterly earnings results on Wednesday, May 1st. The textile maker reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.09. The firm had revenue of $552.38 million for the quarter, compared to analyst estimates of $525.04 million. Steven Madden had a return on equity of 22.68% and a net margin of 8.65%. The business’s revenue was up 19.1% on a year-over-year basis. During the same quarter last year, the company posted $0.50 earnings per share. As a group, equities analysts expect that Steven Madden, Ltd. will post 2.62 earnings per share for the current year.

Steven Madden Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Monday, June 10th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend is Friday, June 7th. Steven Madden’s dividend payout ratio (DPR) is presently 34.71%.

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.