California Public Employees Retirement System reduced its position in Steven Madden, Ltd. (NASDAQ:SHOO) by 4.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 128,092 shares of the textile maker’s stock after selling 5,580 shares during the period. California Public Employees Retirement System owned approximately 0.22% of Steven Madden worth $6,802,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. NumerixS Investment Technologies Inc boosted its position in Steven Madden by 81.8% in the 2nd quarter. NumerixS Investment Technologies Inc now owns 2,000 shares of the textile maker’s stock valued at $108,000 after buying an additional 900 shares during the last quarter. Itau Unibanco Holding S.A. bought a new position in shares of Steven Madden during the second quarter worth about $113,000. CIBC Asset Management Inc bought a new position in shares of Steven Madden during the second quarter worth about $226,000. Strs Ohio lifted its position in shares of Steven Madden by 27.0% during the second quarter. Strs Ohio now owns 4,700 shares of the textile maker’s stock worth $249,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Asset Management One Co. Ltd. bought a new position in shares of Steven Madden during the first quarter worth about $254,000. 95.88% of the stock is owned by institutional investors.
Several equities analysts have recently commented on the stock. Loop Capital set a $36.00 price target on shares of Steven Madden and gave the stock a “hold” rating in a research report on Wednesday, August 8th. Canaccord Genuity set a $39.33 price target on shares of Steven Madden and gave the stock a “buy” rating in a research report on Monday, July 30th. BidaskClub raised shares of Steven Madden from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, July 24th. ValuEngine cut shares of Steven Madden from a “hold” rating to a “sell” rating in a research report on Friday. Finally, B. Riley set a $38.67 price target on shares of Steven Madden and gave the stock a “buy” rating in a research report on Wednesday, August 1st. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $36.39.
In related news, insider Karla Frieders sold 7,000 shares of the stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $56.89, for a total transaction of $398,230.00. Following the sale, the insider now owns 75,280 shares in the company, valued at $4,282,679.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Awadhesh K. Sinha sold 4,000 shares of the stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $57.50, for a total transaction of $230,000.00. Following the sale, the chief operating officer now owns 57,845 shares in the company, valued at approximately $3,326,087.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 13,500 shares of company stock worth $771,405. 1.77% of the stock is owned by company insiders.
Shares of SHOO stock opened at $30.28 on Friday. Steven Madden, Ltd. has a one year low of $24.83 and a one year high of $39.30. The stock has a market cap of $3.09 billion, a PE ratio of 13.52, a P/E/G ratio of 1.85 and a beta of 0.53.
Steven Madden (NASDAQ:SHOO) last released its quarterly earnings data on Tuesday, July 31st. The textile maker reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.02. The firm had revenue of $395.80 million for the quarter, compared to analyst estimates of $390.57 million. Steven Madden had a net margin of 8.17% and a return on equity of 17.01%. Steven Madden’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.34 earnings per share. On average, research analysts forecast that Steven Madden, Ltd. will post 2.68 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 28th. Investors of record on Tuesday, September 18th were paid a dividend of $0.1333 per share. The ex-dividend date was Monday, September 17th. This represents a $0.53 annualized dividend and a yield of 1.76%. Steven Madden’s dividend payout ratio (DPR) is 35.71%.
About Steven Madden
Steven Madden, Ltd. designs, sources, markets, and sells fashion-forward name brand and private label footwear for women, men, and children worldwide. Its Wholesale Footwear segment provides footwear under the Steve Madden Women's, Madden Girl, Steve Madden Men's, Madden, Madden NYC, Dolce Vita, DV by Dolce Vita, Mad Love, Steven by Steve Madden, Report, Superga, Betsey Johnson, Betseyville, Steve Madden Kids, FREEBIRD by Steven, Stevies, B Brian Atwood, Blondo, Kate Spade, and Avec Les Filles brands, as well as private label footwear.
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