Public Sector Pension Investment Board Purchases 2,300 Shares of Steven Madden, Ltd. (NASDAQ:SHOO)

Public Sector Pension Investment Board lifted its position in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 1.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 154,028 shares of the textile maker’s stock after purchasing an additional 2,300 shares during the period. Public Sector Pension Investment Board owned 0.21% of Steven Madden worth $7,546,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. BNP Paribas Financial Markets increased its stake in Steven Madden by 35.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 41,174 shares of the textile maker’s stock worth $2,017,000 after acquiring an additional 10,797 shares during the period. FMR LLC increased its stake in Steven Madden by 8,180.4% during the 3rd quarter. FMR LLC now owns 535,081 shares of the textile maker’s stock worth $26,214,000 after acquiring an additional 528,619 shares during the period. Dynamic Technology Lab Private Ltd increased its stake in Steven Madden by 19.6% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 41,184 shares of the textile maker’s stock worth $2,018,000 after acquiring an additional 6,738 shares during the period. Fisher Asset Management LLC increased its stake in Steven Madden by 0.6% during the 3rd quarter. Fisher Asset Management LLC now owns 728,674 shares of the textile maker’s stock worth $35,698,000 after acquiring an additional 4,108 shares during the period. Finally, Citigroup Inc. increased its stake in Steven Madden by 74.0% during the 3rd quarter. Citigroup Inc. now owns 95,334 shares of the textile maker’s stock worth $4,670,000 after acquiring an additional 40,550 shares during the period. Institutional investors own 99.88% of the company’s stock.

Steven Madden Stock Performance

Shares of SHOO opened at $45.58 on Friday. Steven Madden, Ltd. has a 52-week low of $37.52 and a 52-week high of $50.01. The business’s 50 day moving average price is $46.11 and its two-hundred day moving average price is $44.49. The firm has a market cap of $3.29 billion, a PE ratio of 19.40 and a beta of 1.08.

Steven Madden (NASDAQ:SHOO) last issued its quarterly earnings results 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 return on equity of 23.41% and a net margin of 7.68%. 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 earnings per share. The company’s revenue was up 13.0% compared to the same quarter last year. Research analysts predict that Steven Madden, Ltd. will post 2.65 EPS for the current fiscal 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 $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.84%. The ex-dividend date is Friday, December 13th. Steven Madden’s dividend payout ratio (DPR) is presently 35.74%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on SHOO shares. Telsey Advisory Group restated a “market perform” rating and set a $50.00 price objective on shares of Steven Madden in a research note on Wednesday, November 13th. Needham & Company LLC began coverage on Steven Madden in a report on Friday, November 22nd. They issued a “hold” rating on the stock. StockNews.com downgraded Steven Madden from a “buy” rating to a “hold” rating in a report on Sunday, November 24th. Citigroup raised their target price on Steven Madden from $43.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Finally, Piper Sandler reissued a “neutral” rating and set a $45.00 price objective on shares of Steven Madden in a report on Friday, August 23rd. Eight investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Steven Madden currently has an average rating of “Hold” and an average price target of $45.43.

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.