Teacher Retirement System of Texas Raises Stock Holdings in Steven Madden, Ltd. (NASDAQ:SHOO)

Teacher Retirement System of Texas boosted its stake in Steven Madden, Ltd. (NASDAQ:SHOO) by 34.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 207,569 shares of the textile maker’s stock after buying an additional 52,946 shares during the period. Teacher Retirement System of Texas owned approximately 0.29% of Steven Madden worth $8,826,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Central Pacific Bank Trust Division raised its holdings in Steven Madden by 7.4% in the 4th quarter. Central Pacific Bank Trust Division now owns 4,202 shares of the textile maker’s stock valued at $179,000 after buying an additional 290 shares during the period. Moran Wealth Management LLC raised its holdings in Steven Madden by 1.6% in the 4th quarter. Moran Wealth Management LLC now owns 21,126 shares of the textile maker’s stock valued at $898,000 after buying an additional 325 shares during the period. Blue Trust Inc. raised its holdings in Steven Madden by 20.9% in the 4th quarter. Blue Trust Inc. now owns 1,958 shares of the textile maker’s stock valued at $83,000 after buying an additional 339 shares during the period. Xponance Inc. grew its position in Steven Madden by 12.3% in the 4th quarter. Xponance Inc. now owns 5,320 shares of the textile maker’s stock valued at $226,000 after acquiring an additional 584 shares in the last quarter. Finally, New York State Teachers Retirement System grew its position in Steven Madden by 0.8% in the 4th quarter. New York State Teachers Retirement System now owns 79,672 shares of the textile maker’s stock valued at $3,388,000 after acquiring an additional 652 shares in the last quarter. 99.88% of the stock is currently owned by hedge funds and other institutional investors.

Steven Madden Stock Down 3.7 %

Shares of SHOO opened at $25.03 on Friday. The stock has a 50 day moving average price of $35.59 and a 200 day moving average price of $41.69. The company has a market capitalization of $1.81 billion, a price-to-earnings ratio of 10.65 and a beta of 1.06. Steven Madden, Ltd. has a 52-week low of $24.56 and a 52-week high of $50.01.

Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings results on Wednesday, February 26th. The textile maker reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. The firm had revenue of $582.32 million during the quarter, compared to the consensus estimate of $550.37 million. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. On average, equities analysts anticipate that Steven Madden, Ltd. will post 2.66 EPS for the current fiscal year.

Steven Madden Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Monday, March 10th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date of this dividend was Monday, March 10th. Steven Madden’s dividend payout ratio (DPR) is 35.74%.

Wall Street Analyst Weigh In

Several research firms have weighed in on SHOO. StockNews.com downgraded Steven Madden from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Citigroup dropped their target price on Steven Madden from $38.00 to $35.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. Telsey Advisory Group dropped their target price on Steven Madden from $44.00 to $38.00 and set a “market perform” rating for the company in a research report on Thursday, February 27th. Loop Capital dropped their target price on Steven Madden from $40.00 to $35.00 and set a “hold” rating for the company in a research report on Thursday, February 27th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Steven Madden in a research report on Thursday, February 27th. Eight investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $40.33.

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.