New York State Common Retirement Fund Sells 17,723 Shares of Steven Madden, Ltd. (NASDAQ:SHOO)

New York State Common Retirement Fund lessened its position in Steven Madden, Ltd. (NASDAQ:SHOO) by 44.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,495 shares of the textile maker’s stock after selling 17,723 shares during the quarter. New York State Common Retirement Fund’s holdings in Steven Madden were worth $956,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Central Pacific Bank Trust Division grew its stake in shares of Steven Madden by 7.4% during the fourth quarter. Central Pacific Bank Trust Division now owns 4,202 shares of the textile maker’s stock valued at $179,000 after buying an additional 290 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Steven Madden by 20.9% during the fourth quarter. Blue Trust Inc. now owns 1,958 shares of the textile maker’s stock valued at $83,000 after buying an additional 339 shares during the last quarter. KBC Group NV grew its stake in shares of Steven Madden by 34.1% during the third quarter. KBC Group NV now owns 2,208 shares of the textile maker’s stock valued at $108,000 after buying an additional 561 shares during the last quarter. New York State Teachers Retirement System grew its stake in shares of Steven Madden by 0.8% during the fourth quarter. New York State Teachers Retirement System now owns 79,672 shares of the textile maker’s stock valued at $3,388,000 after buying an additional 652 shares during the last quarter. Finally, Gladius Capital Management LP bought a new position in shares of Steven Madden during the third quarter valued at about $36,000. Institutional investors own 99.88% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Piper Sandler cut their target price on Steven Madden from $45.00 to $40.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 4th. Telsey Advisory Group cut their target price on Steven Madden from $44.00 to $38.00 and set a “market perform” rating on the stock in a research note on Thursday, February 27th. Citigroup cut their target price on Steven Madden from $38.00 to $35.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. Jefferies Financial Group reissued a “hold” rating on shares of Steven Madden in a research note on Monday, February 3rd. Finally, StockNews.com cut Steven Madden from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Eight equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $40.33.

Steven Madden Price Performance

Shares of SHOO opened at $30.45 on Tuesday. Steven Madden, Ltd. has a one year low of $30.42 and a one year high of $50.01. The company has a 50-day simple moving average of $39.83 and a two-hundred day simple moving average of $43.41. The firm has a market capitalization of $2.20 billion, a PE ratio of 12.96 and a beta of 1.07.

Steven Madden (NASDAQ:SHOO) last issued its quarterly earnings data on Wednesday, February 26th. The textile maker reported $0.55 EPS for the quarter, topping the consensus estimate of $0.53 by $0.02. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. The business had revenue of $582.32 million during the quarter, compared to analyst estimates of $550.37 million. Analysts expect that Steven Madden, Ltd. will post 2.66 EPS for the current fiscal year.

Steven Madden Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Monday, March 10th will be issued a dividend of $0.21 per share. The ex-dividend date is Monday, March 10th. This represents a $0.84 annualized dividend and a dividend yield of 2.76%. Steven Madden’s payout ratio is 35.74%.

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.