Louisiana State Employees Retirement System Invests $1.47 Million in Steven Madden, Ltd. (NASDAQ:SHOO)

Louisiana State Employees Retirement System acquired a new position in shares of Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 35,100 shares of the textile maker's stock, valued at approximately $1,474,000.

Several other institutional investors have also recently modified their holdings of SHOO. Pacer Advisors Inc. raised its holdings in Steven Madden by 30.7% in the 4th quarter. Pacer Advisors Inc. now owns 1,469,956 shares of the textile maker's stock valued at $61,738,000 after acquiring an additional 345,558 shares during the last quarter. Vanguard Group Inc. raised its holdings in Steven Madden by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 8,329,605 shares of the textile maker's stock valued at $264,632,000 after acquiring an additional 80,199 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Steven Madden by 1.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 34,365 shares of the textile maker's stock valued at $1,092,000 after acquiring an additional 482 shares during the last quarter. Wellington Management Group LLP raised its holdings in Steven Madden by 5.3% in the 3rd quarter. Wellington Management Group LLP now owns 6,264,768 shares of the textile maker's stock valued at $199,032,000 after acquiring an additional 316,676 shares during the last quarter. Finally, Raymond James & Associates raised its holdings in Steven Madden by 4.1% in the 4th quarter. Raymond James & Associates now owns 105,879 shares of the textile maker's stock valued at $4,447,000 after acquiring an additional 4,136 shares during the last quarter. 99.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SHOO. Jefferies Financial Group reissued a "hold" rating and set a $40.00 price objective on shares of Steven Madden in a research note on Thursday, January 4th. Telsey Advisory Group boosted their price objective on shares of Steven Madden from $39.00 to $44.00 and gave the company a "market perform" rating in a research note on Thursday, February 29th. StockNews.com raised shares of Steven Madden from a "hold" rating to a "buy" rating in a research note on Thursday, February 29th. Williams Trading reissued a "hold" rating and set a $44.00 price objective on shares of Steven Madden in a research note on Wednesday, February 21st. Finally, Piper Sandler began coverage on shares of Steven Madden in a research note on Wednesday, February 14th. They set a "neutral" rating and a $45.00 price objective for the company. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $41.38.

Steven Madden Stock Performance

Steven Madden stock traded up $0.57 during trading on Friday, reaching $39.12. 657,607 shares of the company's stock were exchanged, compared to its average volume of 637,526. The company's 50-day moving average is $41.71 and its two-hundred day moving average is $39.55. Steven Madden, Ltd. has a 52-week low of $29.92 and a 52-week high of $45.63. The firm has a market cap of $2.87 billion, a price-to-earnings ratio of 17.01 and a beta of 1.16.

Steven Madden (NASDAQ:SHOO - Get Free Report) last announced its quarterly earnings results on Wednesday, February 28th. The textile maker reported $0.61 earnings per share for the quarter, topping analysts' consensus estimates of $0.56 by $0.05. Steven Madden had a net margin of 8.67% and a return on equity of 21.61%. The firm had revenue of $519.71 million during the quarter, compared to analysts' expectations of $511.96 million. During the same period in the prior year, the company earned $0.44 EPS. The firm's revenue was up 10.4% on a year-over-year basis. Analysts anticipate that Steven Madden, Ltd. will post 2.61 EPS for the current year.

Steven Madden Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend was Thursday, March 7th. Steven Madden's payout ratio is 36.52%.

Insider Transactions at Steven Madden

In related news, Director Peter Allan Davis sold 1,200 shares of the stock in a transaction dated 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 transaction, the director now owns 5,751 shares of the company's stock, valued at $242,289.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Peter Allan Davis sold 1,200 shares of the company's stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $42.13, for a total value of $50,556.00. Following the sale, the director now directly owns 5,751 shares of the company's stock, valued at $242,289.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Zine Mazouzi sold 7,246 shares of the stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $41.66, for a total transaction of $301,868.36. Following the transaction, the chief financial officer now owns 68,785 shares in the company, valued at $2,865,583.10. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 59,346 shares of company stock valued at $2,464,841. 2.01% of the stock is currently owned by insiders.

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.