Public Sector Pension Investment Board Has $7.55 Million Stake in 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, Holdings Channel.com reports. 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’s holdings in Steven Madden were worth $7,546,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Gladius Capital Management LP purchased a new stake in Steven Madden in the 3rd quarter valued at $36,000. Blue Trust Inc. raised its position in Steven Madden by 9,166.7% in the 2nd quarter. Blue Trust Inc. now owns 834 shares of the textile maker’s stock valued at $35,000 after buying an additional 825 shares during the last quarter. Exchange Traded Concepts LLC purchased a new stake in Steven Madden in the 3rd quarter valued at $59,000. GAMMA Investing LLC raised its position in Steven Madden by 80.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,329 shares of the textile maker’s stock valued at $65,000 after buying an additional 593 shares during the last quarter. Finally, International Assets Investment Management LLC raised its position in Steven Madden by 4,800.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,911 shares of the textile maker’s stock valued at $94,000 after buying an additional 1,872 shares during the last quarter. 99.88% of the stock is owned by hedge funds and other institutional investors.

Steven Madden Stock Performance

SHOO stock opened at $45.58 on Friday. The company has a market capitalization of $3.29 billion, a price-to-earnings ratio of 19.40 and a beta of 1.08. Steven Madden, Ltd. has a fifty-two week low of $37.52 and a fifty-two week high of $50.01. The stock has a fifty day moving average of $46.11 and a 200-day moving average of $44.49.

Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings results on Thursday, November 7th. The textile maker reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.02. The company had revenue of $624.68 million during the quarter, compared to the consensus estimate of $607.89 million. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. The firm’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.88 EPS. Equities analysts predict that Steven Madden, Ltd. will post 2.65 EPS for the current year.

Steven Madden Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be paid a dividend of $0.21 per share. The ex-dividend date is Friday, December 13th. This represents a $0.84 annualized dividend and a dividend yield of 1.84%. Steven Madden’s payout ratio is 35.74%.

Analysts Set New Price Targets

A number of research firms recently commented on SHOO. Telsey Advisory Group reissued a “market perform” rating and issued a $50.00 price target on shares of Steven Madden in a research report on Wednesday, November 13th. StockNews.com downgraded Steven Madden from a “buy” rating to a “hold” rating in a research note on Sunday, November 24th. Wedbush restated a “neutral” rating and issued a $41.00 price objective on shares of Steven Madden in a research note on Wednesday, August 7th. Citigroup upped their price objective on Steven Madden from $43.00 to $45.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Finally, Piper Sandler restated a “neutral” rating and issued a $45.00 price objective on shares of Steven Madden in a research note on Friday, August 23rd. Eight analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price 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.