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

Teacher Retirement System of Texas lifted its stake in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 34.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 207,569 shares of the textile maker’s stock after purchasing an additional 52,946 shares during the quarter. Teacher Retirement System of Texas’ holdings in Steven Madden were worth $8,826,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. State Street Corp raised its position in Steven Madden by 1.7% in the third quarter. State Street Corp now owns 2,756,075 shares of the textile maker’s stock worth $135,020,000 after acquiring an additional 47,017 shares in the last quarter. Pacer Advisors Inc. purchased a new position in Steven Madden in the fourth quarter worth $72,795,000. Geode Capital Management LLC raised its position in Steven Madden by 3.0% in the third quarter. Geode Capital Management LLC now owns 1,710,492 shares of the textile maker’s stock worth $83,812,000 after acquiring an additional 49,075 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Steven Madden by 2.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,122,680 shares of the textile maker’s stock worth $47,736,000 after acquiring an additional 25,903 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in Steven Madden by 2.1% in the fourth quarter. Bank of New York Mellon Corp now owns 837,865 shares of the textile maker’s stock worth $35,626,000 after acquiring an additional 17,173 shares in the last quarter. Hedge funds and other institutional investors own 99.88% of the company’s stock.

Analysts Set New Price Targets

SHOO has been the subject of several research analyst reports. Piper Sandler cut their price objective on Steven Madden from $45.00 to $40.00 and set a “neutral” rating for the company in a research report on Tuesday, February 4th. Needham & Company LLC reaffirmed a “hold” rating on shares of Steven Madden in a research note on Thursday, February 27th. Citigroup decreased their price objective on Steven Madden from $38.00 to $35.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. Loop Capital decreased their price objective on Steven Madden from $40.00 to $35.00 and set a “hold” rating on the stock in a research note on Thursday, February 27th. Finally, Telsey Advisory Group decreased their price objective on Steven Madden from $44.00 to $38.00 and set a “market perform” rating on the stock in a research note on Thursday, February 27th. Eight analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Steven Madden has an average rating of “Hold” and an average target price of $40.33.

Steven Madden Trading Down 3.7 %

NASDAQ SHOO opened at $25.03 on Friday. The business’s 50-day moving average price is $35.59 and its 200 day moving average price is $41.69. Steven Madden, Ltd. has a twelve month low of $24.56 and a twelve month high of $50.01. The company has a market capitalization of $1.81 billion, a PE ratio of 10.65 and a beta of 1.06.

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

Steven Madden Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Monday, March 10th were given a dividend of $0.21 per share. The ex-dividend date was Monday, March 10th. This represents a $0.84 annualized dividend and a yield of 3.36%. 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.