Public Sector Pension Investment Board Has $6.10 Million Position in Steven Madden, Ltd. $SHOO

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

Other hedge funds have also made changes to their positions in the company. Mariner LLC grew its position in Steven Madden by 7.2% in the fourth quarter. Mariner LLC now owns 4,740 shares of the textile maker's stock worth $202,000 after buying an additional 319 shares during the last quarter. Tidal Investments LLC grew its position in Steven Madden by 2.4% during the 4th quarter. Tidal Investments LLC now owns 17,784 shares of the textile maker's stock worth $756,000 after purchasing an additional 409 shares in the last quarter. Bank of Montreal Can boosted 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 valued at $453,000 after buying an additional 554 shares during the period. Vident Advisory LLC boosted its stake in shares of Steven Madden by 4.6% during the 4th quarter. Vident Advisory LLC now owns 17,267 shares of the textile maker's stock valued at $734,000 after buying an additional 756 shares during the period. Finally, Envestnet Asset Management Inc. boosted its stake in shares of Steven Madden by 3.8% during the 4th quarter. Envestnet Asset Management Inc. now owns 22,198 shares of the textile maker's stock valued at $944,000 after buying an additional 804 shares during the period. Institutional investors and hedge funds own 99.88% of the company's stock.

Steven Madden Trading Up 2.0%

Shares of NASDAQ SHOO traded up $0.53 during midday trading on Thursday, reaching $27.13. 1,353,357 shares of the stock were exchanged, compared to its average volume of 1,795,152. The business has a 50-day simple moving average of $25.31 and a two-hundred day simple moving average of $26.42. The company has a market capitalization of $1.97 billion, a price-to-earnings ratio of 21.36 and a beta of 1.16. Steven Madden, Ltd. has a 12 month low of $19.05 and a 12 month high of $50.01. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.01 and a quick ratio of 1.13.

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

Steven Madden Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 23rd. Investors 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 is Friday, September 12th. Steven Madden's dividend payout ratio (DPR) is presently 66.14%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SHOO. Citigroup raised shares of Steven Madden from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $26.00 to $32.00 in a research note on Thursday, July 17th. Telsey Advisory Group reissued a "market perform" rating and set a $26.00 target price (up previously from $24.00) on shares of Steven Madden in a research report on Wednesday, July 30th. Needham & Company LLC restated a "hold" rating on shares of Steven Madden in a report on Wednesday, July 30th. Wall Street Zen downgraded shares of Steven Madden from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. Finally, UBS Group increased their price target on shares of Steven Madden from $23.00 to $26.00 and gave the stock a "neutral" rating in a research report on Monday, July 28th. One research analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat, Steven Madden currently has a consensus rating of "Hold" and a consensus price target of $28.80.

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.