State of Alaska Department of Revenue Increases Stock Position in Steven Madden, Ltd. (NASDAQ:SHOO)

State of Alaska Department of Revenue increased its position in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 2.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 41,439 shares of the textile maker’s stock after purchasing an additional 933 shares during the quarter. State of Alaska Department of Revenue’s holdings in Steven Madden were worth $2,030,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in SHOO. Fidelis Capital Partners LLC purchased a new position in shares of Steven Madden in the 1st quarter worth approximately $47,000. Central Pacific Bank Trust Division bought a new stake in Steven Madden during the first quarter worth $170,000. GSA Capital Partners LLP boosted its position in Steven Madden by 456.9% in the first quarter. GSA Capital Partners LLP now owns 34,017 shares of the textile maker’s stock worth $1,438,000 after purchasing an additional 27,909 shares during the last quarter. Texas Permanent School Fund Corp grew its stake in Steven Madden by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 61,378 shares of the textile maker’s stock valued at $2,595,000 after purchasing an additional 794 shares during the period. Finally, Gallacher Capital Management LLC purchased a new stake in shares of Steven Madden during the 1st quarter valued at $401,000. 99.88% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SHOO has been the topic of a number of research analyst reports. StockNews.com raised shares of Steven Madden from a “hold” rating to a “buy” rating in a report on Wednesday, September 18th. Telsey Advisory Group reissued a “market perform” rating and set a $50.00 target price on shares of Steven Madden in a research report on Wednesday. Wedbush reaffirmed a “neutral” rating and issued a $41.00 price target on shares of Steven Madden in a report on Wednesday, August 7th. 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. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $45.14.

Steven Madden Trading Down 0.5 %

SHOO opened at $44.75 on Friday. Steven Madden, Ltd. has a 12 month low of $32.54 and a 12 month high of $50.01. The company has a market cap of $3.25 billion, a PE ratio of 18.27 and a beta of 1.08. The company has a 50 day moving average of $46.38 and a 200 day moving average of $43.96.

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

Steven Madden Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Friday, September 13th were paid a $0.21 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.84 annualized dividend and a yield of 1.88%. Steven Madden’s dividend payout ratio is currently 34.29%.

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.