State of Tennessee Department of Treasury Purchases 8,824 Shares of Steven Madden, Ltd. (NASDAQ:SHOO)

State of Tennessee Department of Treasury boosted its position in Steven Madden, Ltd. (NASDAQ:SHOO) by 21.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 50,471 shares of the textile maker’s stock after purchasing an additional 8,824 shares during the quarter. State of Tennessee Department of Treasury’s holdings in Steven Madden were worth $2,146,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in SHOO. Pictet Asset Management Holding SA increased its holdings in shares of Steven Madden by 17.9% during the fourth quarter. Pictet Asset Management Holding SA now owns 10,503 shares of the textile maker’s stock valued at $447,000 after acquiring an additional 1,594 shares in the last quarter. Bank of Montreal Can increased its holdings in shares of Steven Madden by 5.5% during the fourth quarter. Bank of Montreal Can now owns 10,660 shares of the textile maker’s stock valued at $453,000 after acquiring an additional 554 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Steven Madden by 3.1% during the fourth quarter. Principal Financial Group Inc. now owns 381,196 shares of the textile maker’s stock valued at $16,208,000 after acquiring an additional 11,602 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Steven Madden by 26.4% during the fourth quarter. JPMorgan Chase & Co. now owns 584,068 shares of the textile maker’s stock valued at $24,835,000 after acquiring an additional 121,972 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Steven Madden by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,122,680 shares of the textile maker’s stock valued at $47,736,000 after acquiring an additional 25,903 shares in the last quarter. 99.88% of the stock is currently owned by institutional investors.

Steven Madden Price Performance

Shares of SHOO stock opened at $20.92 on Tuesday. The stock has a 50 day simple moving average of $25.99 and a 200-day simple moving average of $37.00. Steven Madden, Ltd. has a 1-year low of $19.05 and a 1-year high of $50.01. The company has a market cap of $1.52 billion, a price-to-earnings ratio of 8.90 and a beta of 0.98.

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

Steven Madden Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Monday, March 10th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 4.02%. The ex-dividend date was Monday, March 10th. Steven Madden’s dividend payout ratio is currently 35.74%.

Wall Street Analyst Weigh In

SHOO has been the topic of several recent analyst reports. Telsey Advisory Group cut their price objective on shares of Steven Madden from $44.00 to $38.00 and set a “market perform” rating on the stock in a report on Thursday, February 27th. Jefferies Financial Group reiterated a “hold” rating on shares of Steven Madden in a research report on Monday, February 3rd. StockNews.com lowered Steven Madden from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Citigroup dropped their target price on Steven Madden from $38.00 to $35.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. Finally, Loop Capital dropped their target price on Steven Madden from $40.00 to $35.00 and set a “hold” rating on the stock in a research report on Thursday, February 27th. Nine equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $35.57.

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.