Steven Madden, Ltd. (NASDAQ:SHOO) Shares Sold by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System lessened its position in shares of Steven Madden, Ltd. (NASDAQ:SHOO – Get Rating) by 8.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 37,246 shares of the textile maker’s stock after selling 3,320 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Steven Madden were worth $1,439,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Nuveen Asset Management LLC raised its stake in Steven Madden by 15.4% in the 4th quarter. Nuveen Asset Management LLC now owns 1,442,956 shares of the textile maker’s stock valued at $67,054,000 after purchasing an additional 192,403 shares during the last quarter. Marshall Wace LLP raised its stake in Steven Madden by 158.9% in the 4th quarter. Marshall Wace LLP now owns 1,215,572 shares of the textile maker’s stock valued at $56,492,000 after purchasing an additional 746,096 shares during the last quarter. Millennium Management LLC raised its stake in Steven Madden by 104.5% in the 4th quarter. Millennium Management LLC now owns 1,096,226 shares of the textile maker’s stock valued at $50,942,000 after purchasing an additional 560,148 shares during the last quarter. Fort Washington Investment Advisors Inc. OH raised its stake in Steven Madden by 32.1% in the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 564,098 shares of the textile maker’s stock valued at $21,797,000 after purchasing an additional 137,174 shares during the last quarter. Finally, Ranger Investment Management L.P. acquired a new position in Steven Madden in the 4th quarter valued at about $17,214,000. Institutional investors and hedge funds own 94.05% of the company’s stock.

Insiders Place Their Bets

In other Steven Madden news, Director Robert Garrett Smith sold 2,222 shares of the company’s stock in a transaction that occurred on Wednesday, June 8th. The stock was sold at an average price of $38.96, for a total value of $86,569.12. Following the completion of the transaction, the director now owns 8,500 shares in the company, valued at approximately $331,160. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.98% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth Several research analysts recently weighed in on SHOO shares. Citigroup cut their target price on shares of Steven Madden from $47.00 to $36.00 in a research note on Thursday, July 28th. Telsey Advisory Group dropped their price objective on shares of Steven Madden from $52.00 to $38.00 and set a “market perform” rating for the company in a research note on Thursday, July 28th. B. Riley dropped their price objective on shares of Steven Madden from $58.00 to $49.00 in a research note on Thursday, July 28th. Loop Capital dropped their price objective on shares of Steven Madden from $55.00 to $45.00 and set a “buy” rating for the company in a research note on Wednesday, June 8th. Finally, StockNews.com downgraded shares of Steven Madden from a “buy” rating to a “hold” rating in a research note on Thursday, July 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $47.00. Steven Madden Stock Performance

Shares of NASDAQ:SHOO opened at $33.69 on Monday. Steven Madden, Ltd. has a 1 year low of $31.06 and a 1 year high of $51.56. The stock has a market capitalization of $2.66 billion, a P/E ratio of 10.56 and a beta of 1.07. The stock has a 50-day simple moving average of $33.69 and a 200-day simple moving average of $37.77.

Steven Madden (NASDAQ:SHOO – Get Rating) last issued its earnings results on Wednesday, July 27th. The textile maker reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.06. The business had revenue of $532.68 million during the quarter, compared to analysts’ expectations of $491.80 million. Steven Madden had a return on equity of 31.40% and a net margin of 11.61%. The company’s revenue for the quarter was up 34.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.48 EPS. Analysts predict that Steven Madden, Ltd. will post 2.97 earnings per share for the current year.

Steven Madden Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 26th. Shareholders of record on Friday, September 16th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date is Thursday, September 15th. Steven Madden’s dividend payout ratio is presently 26.33%.

Steven Madden Profile

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Steven Madden, Ltd. designs, sources, markets, and sells fashion-forward branded and private label footwear, accessories, and apparel for women, men, and children in the United States and internationally. Its Wholesale Footwear segment provides footwear under the Steve Madden, Steven by Steve Madden, Madden Girl, BB Dakota, Dolce Vita, DV Dolce Vita, Betsey Johnson, GREATS, Blondo, Anne Klein, Mad Love, Superga, Madden NYC, and COOL Planet brands, as well as private label footwear.

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