State of New Jersey Common Pension Fund D Lowers Position in Steven Madden, Ltd. (NASDAQ:SHOO)

State of New Jersey Common Pension Fund D trimmed its position in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 1.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,923 shares of the textile maker’s stock after selling 871 shares during the quarter. State of New Jersey Common Pension Fund D owned approximately 0.06% of Steven Madden worth $2,152,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Capital Research Global Investors grew its stake in Steven Madden by 8.6% in the 1st quarter. Capital Research Global Investors now owns 1,856,001 shares of the textile maker’s stock valued at $78,472,000 after acquiring an additional 146,324 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Steven Madden by 0.6% during the second quarter. Bank of New York Mellon Corp now owns 873,682 shares of the textile maker’s stock worth $36,957,000 after purchasing an additional 5,451 shares in the last quarter. abrdn plc raised its position in shares of Steven Madden by 2.7% during the 3rd quarter. abrdn plc now owns 558,015 shares of the textile maker’s stock worth $27,242,000 after purchasing an additional 14,841 shares during the last quarter. Fort Washington Investment Advisors Inc. OH boosted its holdings in Steven Madden by 10.1% in the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 501,457 shares of the textile maker’s stock worth $21,212,000 after buying an additional 45,910 shares during the last quarter. Finally, Leeward Investments LLC MA increased its stake in Steven Madden by 5.6% during the 2nd quarter. Leeward Investments LLC MA now owns 312,740 shares of the textile maker’s stock worth $13,229,000 after buying an additional 16,529 shares in the last quarter. 99.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. StockNews.com lowered Steven Madden from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Piper Sandler restated a “neutral” rating and set a $45.00 price target on shares of Steven Madden in a research report on Friday, August 23rd. Citigroup increased their price objective on shares of Steven Madden from $43.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Wedbush restated a “neutral” rating and issued a $41.00 price target on shares of Steven Madden in a research report on Wednesday, August 7th. Finally, Telsey Advisory Group reiterated a “market perform” rating and set a $50.00 price objective on shares of Steven Madden in a research report on Wednesday. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $45.43.

Steven Madden Stock Down 0.7 %

SHOO stock opened at $43.95 on Friday. Steven Madden, Ltd. has a 52-week low of $35.64 and a 52-week high of $50.01. The business has a fifty day moving average of $46.42 and a two-hundred day moving average of $44.28. The stock has a market cap of $3.17 billion, a price-to-earnings ratio of 18.70 and a beta of 1.08.

Steven Madden (NASDAQ:SHOO) last issued its quarterly earnings data on Thursday, November 7th. The textile maker reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.02. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. The firm had revenue of $624.68 million for the quarter, compared to analyst estimates of $607.89 million. During the same period in the previous year, the firm earned $0.88 EPS. Steven Madden’s revenue was up 13.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Steven Madden, Ltd. will post 2.65 EPS for the current year.

Steven Madden Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.84 dividend on an annualized basis and a yield of 1.91%. Steven Madden’s dividend payout ratio (DPR) is presently 35.74%.

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.