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

Texas Permanent School Fund Corp decreased its holdings in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 1.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 60,400 shares of the textile maker’s stock after selling 978 shares during the quarter. Texas Permanent School Fund Corp owned approximately 0.08% of Steven Madden worth $2,555,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of SHOO. Capital Research Global Investors grew its stake in shares of Steven Madden by 8.6% in the first quarter. Capital Research Global Investors now owns 1,856,001 shares of the textile maker’s stock valued at $78,472,000 after buying an additional 146,324 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Steven Madden by 2.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,024,238 shares of the textile maker’s stock valued at $43,018,000 after buying an additional 26,177 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Steven Madden by 0.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 873,682 shares of the textile maker’s stock worth $36,957,000 after acquiring an additional 5,451 shares during the period. First Trust Advisors LP raised its stake in Steven Madden by 13.8% in the 4th quarter. First Trust Advisors LP now owns 613,449 shares of the textile maker’s stock valued at $25,765,000 after acquiring an additional 74,225 shares during the period. Finally, Ranger Investment Management L.P. lifted its holdings in Steven Madden by 36.8% during the 4th quarter. Ranger Investment Management L.P. now owns 560,941 shares of the textile maker’s stock valued at $23,560,000 after purchasing an additional 150,852 shares during the last quarter. Institutional investors own 99.88% of the company’s stock.

Analyst Ratings Changes

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

Steven Madden Stock Up 0.3 %

NASDAQ SHOO opened at $45.76 on Tuesday. The company has a market capitalization of $3.36 billion, a price-to-earnings ratio of 18.91 and a beta of 1.08. Steven Madden, Ltd. has a twelve month low of $30.35 and a twelve month high of $47.24. The stock has a fifty day simple moving average of $43.86 and a 200 day simple moving average of $42.56.

Steven Madden (NASDAQ:SHOO) last announced 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 business had revenue of $523.60 million for the quarter, compared to analysts’ expectations of $515.15 million. Steven Madden had a return on equity of 23.49% and a net margin of 8.36%. The firm’s revenue was up 17.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.47 earnings per share. Research analysts expect that Steven Madden, Ltd. will post 2.62 earnings per share for the current fiscal year.

Steven Madden Dividend Announcement

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

About Steven Madden

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.