Texas Permanent School Fund Corp Has $2.56 Million Stock Position in Steven Madden, Ltd. (NASDAQ:SHOO)

Texas Permanent School Fund Corp lessened its position in Steven Madden, Ltd. (NASDAQ:SHOO) by 1.6% in the second quarter, HoldingsChannel reports. The fund owned 60,400 shares of the textile maker’s stock after selling 978 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Steven Madden were worth $2,555,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Blue Trust Inc. increased its stake in Steven Madden by 9,166.7% during the 2nd quarter. Blue Trust Inc. now owns 834 shares of the textile maker’s stock valued at $35,000 after purchasing an additional 825 shares in the last quarter. Fidelis Capital Partners LLC purchased a new position in Steven Madden during the 1st quarter worth $47,000. EntryPoint Capital LLC bought a new position in shares of Steven Madden during the first quarter valued at about $81,000. nVerses Capital LLC grew its position in Steven Madden by 3,600.0% in the 2nd quarter. nVerses Capital LLC now owns 3,700 shares of the textile maker’s stock worth $157,000 after purchasing an additional 3,600 shares in the last quarter. Finally, Central Pacific Bank Trust Division purchased a new stake in Steven Madden in the 1st quarter valued at about $170,000. Institutional investors own 99.88% of the company’s stock.

Steven Madden Price Performance

Shares of Steven Madden stock opened at $45.76 on Tuesday. The company has a 50 day simple moving average of $43.86 and a two-hundred day simple moving average of $42.56. The firm has a market cap of $3.36 billion, a PE ratio of 18.91 and a beta of 1.08. Steven Madden, Ltd. has a 1 year low of $30.35 and a 1 year high of $47.24.

Steven Madden (NASDAQ:SHOO) last released its earnings results on Wednesday, July 31st. The textile maker reported $0.57 EPS for the quarter, beating the consensus estimate of $0.51 by $0.06. The company had revenue of $523.60 million for the quarter, compared to analyst estimates of $515.15 million. Steven Madden had a net margin of 8.36% and a return on equity of 23.49%. The firm’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.47 EPS. As a group, research analysts anticipate that Steven Madden, Ltd. will post 2.62 earnings per share for the current year.

Steven Madden Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Friday, September 13th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date is Friday, September 13th. Steven Madden’s payout ratio is currently 34.71%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Wedbush reaffirmed a “neutral” rating and issued a $41.00 target price on shares of Steven Madden in a report on Wednesday, August 7th. StockNews.com downgraded shares of Steven Madden from a “buy” rating to a “hold” rating in a research report on Tuesday, August 27th. Piper Sandler reissued a “neutral” rating and issued a $45.00 target price on shares of Steven Madden in a research report on Friday, August 23rd. Telsey Advisory Group reiterated a “market perform” rating and set a $44.00 price target on shares of Steven Madden in a research note on Wednesday, July 31st. Finally, BTIG Research boosted their price objective on Steven Madden from $50.00 to $53.00 and gave the company a “buy” rating in a research note on Thursday, June 6th. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $44.29.

Steven Madden 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.