Teacher Retirement System of Texas reduced its stake in shares of Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 13.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 178,964 shares of the textile maker's stock after selling 28,605 shares during the quarter. Teacher Retirement System of Texas owned 0.25% of Steven Madden worth $4,768,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of SHOO. Charles Schwab Investment Management Inc. increased its holdings in Steven Madden by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,122,680 shares of the textile maker's stock valued at $47,736,000 after buying an additional 25,903 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Steven Madden in the 4th quarter worth about $13,652,000. Vestmark Advisory Solutions Inc. grew its holdings in shares of Steven Madden by 20.0% in the 4th quarter. Vestmark Advisory Solutions Inc. now owns 5,407 shares of the textile maker's stock worth $230,000 after purchasing an additional 902 shares during the last quarter. Amundi grew its holdings in shares of Steven Madden by 149.0% in the 4th quarter. Amundi now owns 42,089 shares of the textile maker's stock worth $1,734,000 after purchasing an additional 25,183 shares during the last quarter. Finally, AlphaQuest LLC grew its holdings in shares of Steven Madden by 248.3% in the 4th quarter. AlphaQuest LLC now owns 29,135 shares of the textile maker's stock worth $1,239,000 after purchasing an additional 20,769 shares during the last quarter. 99.88% of the stock is currently owned by institutional investors and hedge funds.
Steven Madden Stock Performance
Steven Madden stock traded down $0.08 during trading hours on Wednesday, reaching $25.51. 935,668 shares of the company's stock traded hands, compared to its average volume of 1,132,075. The firm has a market capitalization of $1.85 billion, a price-to-earnings ratio of 11.00 and a beta of 1.10. The firm's 50 day moving average is $24.42 and its 200-day moving average is $29.80. Steven Madden, Ltd. has a fifty-two week low of $19.05 and a fifty-two week high of $50.01.
Steven Madden (NASDAQ:SHOO - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The textile maker reported $0.60 earnings per share for the quarter, beating analysts' consensus estimates of $0.46 by $0.14. The business had revenue of $551.38 million for the quarter, compared to the consensus estimate of $557.81 million. Steven Madden had a net margin of 7.26% and a return on equity of 21.63%. Steven Madden's revenue for the quarter was up .2% on a year-over-year basis. During the same period last year, the company posted $0.65 EPS. Analysts predict that Steven Madden, Ltd. will post 2.66 EPS for the current year.
Steven Madden Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Monday, June 9th were given a $0.21 dividend. The ex-dividend date of this dividend was Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.29%. Steven Madden's dividend payout ratio is 36.21%.
Analyst Upgrades and Downgrades
Several research firms have recently weighed in on SHOO. Piper Sandler lowered their target price on shares of Steven Madden from $35.00 to $25.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Citigroup reduced their price target on shares of Steven Madden from $35.00 to $23.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. UBS Group upped their price target on shares of Steven Madden from $22.00 to $23.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Needham & Company LLC reiterated a "hold" rating on shares of Steven Madden in a research report on Friday, May 2nd. Finally, Telsey Advisory Group restated a "market perform" rating and set a $24.00 target price on shares of Steven Madden in a research report on Wednesday, June 4th. Nine investment analysts have rated the stock with a hold rating, According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $28.50.
Get Our Latest Analysis on Steven Madden
About Steven Madden
(
Free Report)
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.
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