Steven Madden, Ltd. $SHOO Shares Acquired by Public Sector Pension Investment Board

Key Points

• The Public Sector Pension Investment Board increased its stake in Steven Madden, Ltd. by 27.2%, acquiring an additional 48,988 shares to total 228,894 shares valued at approximately $6.1 million.
• Several institutional investors, including Nuveen LLC and Federated Hermes, significantly raised their positions in Steven Madden, contributing to a total of 99.88% institutional ownership.
• Steven Madden announced a quarterly dividend of $0.21 per share, with an annualized yield of 3.1%, to be paid on September 23rd.

Public Sector Pension Investment Board raised its stake in shares of Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 27.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 228,894 shares of the textile maker's stock after purchasing an additional 48,988 shares during the period. Public Sector Pension Investment Board owned 0.32% of Steven Madden worth $6,098,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

A number of analysts have commented on the stock. Telsey Advisory Group reiterated a "market perform" rating and issued a $26.00 price objective (up previously from $24.00) on shares of Steven Madden in a report on Wednesday, July 30th. UBS Group lifted their price target on Steven Madden from $23.00 to $26.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. Needham & Company LLC reiterated a "hold" rating on shares of Steven Madden in a report on Wednesday, July 30th. Citigroup raised Steven Madden from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $26.00 to $32.00 in a report on Thursday, July 17th. Finally, Wall Street Zen cut Steven Madden from a "hold" rating to a "sell" rating in a research report on Saturday. One equities research analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Steven Madden has a consensus rating of "Hold" and a consensus target price of $28.80.

Steven Madden Stock Down 1.2%

Shares of NASDAQ SHOO traded down $0.3340 on Wednesday, hitting $26.7060. The company had a trading volume of 538,514 shares, compared to its average volume of 1,561,908. The business has a 50 day moving average of $25.21 and a two-hundred day moving average of $26.49. Steven Madden, Ltd. has a 12-month low of $19.05 and a 12-month high of $50.01. The company has a quick ratio of 1.13, a current ratio of 2.01 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $1.94 billion, a P/E ratio of 21.02 and a beta of 1.16.

Steven Madden (NASDAQ:SHOO - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The textile maker reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.04). The firm had revenue of $556.09 million for the quarter, compared to analysts' expectations of $575.83 million. Steven Madden had a return on equity of 18.32% and a net margin of 3.92%.The business's quarterly revenue was up 6.8% on a year-over-year basis. During the same period last year, the firm earned $0.57 EPS. As a group, equities research analysts forecast that Steven Madden, Ltd. will post 2.66 earnings per share for the current fiscal year.

Steven Madden Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders of record on Friday, September 12th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Friday, September 12th. Steven Madden's dividend payout ratio is 66.14%.

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.