Maryland State Retirement & Pension System Sells 3,274 Shares of Steven Madden, Ltd. (NASDAQ:SHOO)

Maryland State Retirement & Pension System reduced its holdings in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 13.5% in the first quarter, according to its most recent filing with the SEC. The fund owned 21,062 shares of the textile maker’s stock after selling 3,274 shares during the period. Maryland State Retirement & Pension System’s holdings in Steven Madden were worth $561,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Deutsche Bank AG lifted its stake in shares of Steven Madden by 49.0% during the 4th quarter. Deutsche Bank AG now owns 64,998 shares of the textile maker’s stock worth $2,764,000 after acquiring an additional 21,363 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Steven Madden by 2.8% during the 1st quarter. Principal Financial Group Inc. now owns 391,937 shares of the textile maker’s stock worth $10,441,000 after acquiring an additional 10,741 shares during the last quarter. Bank of Montreal Can lifted its stake in shares of Steven Madden by 5.5% during the 4th quarter. Bank of Montreal Can now owns 10,660 shares of the textile maker’s stock worth $453,000 after acquiring an additional 554 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Steven Madden by 29.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,455,381 shares of the textile maker’s stock worth $39,907,000 after acquiring an additional 332,689 shares during the last quarter. Finally, Harbor Capital Advisors Inc. lifted its stake in shares of Steven Madden by 62.3% during the 1st quarter. Harbor Capital Advisors Inc. now owns 201,696 shares of the textile maker’s stock worth $5,373,000 after acquiring an additional 77,425 shares during the last quarter. 99.88% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Citigroup raised Steven Madden from a “neutral” rating to a “buy” rating and raised their price target for the stock from $26.00 to $32.00 in a research note on Thursday, July 17th. UBS Group raised their price objective on Steven Madden from $23.00 to $26.00 and gave the stock a “neutral” rating in a report on Monday, July 28th. Telsey Advisory Group restated a “market perform” rating and set a $26.00 price objective (up from $24.00) on shares of Steven Madden in a report on Wednesday, July 30th. Finally, Needham & Company LLC restated a “hold” rating on shares of Steven Madden in a report on Wednesday, July 30th. Seven equities research 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, the stock presently has an average rating of “Hold” and a consensus price target of $28.80.

Steven Madden Trading Down 2.2%

Shares of NASDAQ:SHOO opened at $26.74 on Friday. Steven Madden, Ltd. has a 12-month low of $19.05 and a 12-month high of $50.01. The business’s fifty day simple moving average is $25.13 and its 200-day simple moving average is $26.89. The company has a market capitalization of $1.94 billion, a PE ratio of 21.06 and a beta of 1.16. The company has a current ratio of 2.01, a quick ratio of 1.13 and a debt-to-equity ratio of 0.33.

Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings results on Wednesday, July 30th. The textile maker reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.04). Steven Madden had a net margin of 3.92% and a return on equity of 18.32%. The company had revenue of $556.09 million during the quarter, compared to analysts’ expectations of $575.83 million. During the same quarter in the prior year, the business posted $0.57 earnings per share. The company’s revenue was up 6.8% compared to the same quarter last year. As a group, equities research analysts predict that Steven Madden, Ltd. will post 2.66 earnings per share for the current fiscal year.

Steven Madden Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 23rd. Stockholders of record on Friday, September 12th will be issued a $0.21 dividend. The ex-dividend date is Friday, September 12th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.1%. Steven Madden’s dividend payout ratio (DPR) is currently 66.14%.

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.