Teacher Retirement System of Texas raised its stake in shares of Steven Madden Ltd. (NASDAQ:SHOO) by 13.7% during the second quarter, Holdings Channel reports. The fund owned 7,889 shares of the company’s stock after buying an additional 952 shares during the period. Teacher Retirement System of Texas’ holdings in Steven Madden were worth $270,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Aperio Group LLC raised its stake in Steven Madden by 8.3% in the first quarter. Aperio Group LLC now owns 15,202 shares of the company’s stock valued at $563,000 after buying an additional 1,160 shares during the last quarter. Ngam Advisors L.P. acquired a new stake in Steven Madden during the first quarter valued at about $467,000. Prudential Financial Inc. raised its stake in Steven Madden by 2.7% in the first quarter. Prudential Financial Inc. now owns 162,605 shares of the company’s stock valued at $6,023,000 after buying an additional 4,269 shares during the last quarter. BlackRock Inc. raised its stake in Steven Madden by 124.0% in the first quarter. BlackRock Inc. now owns 3,805 shares of the company’s stock valued at $140,000 after buying an additional 2,106 shares during the last quarter. Finally, BlackRock Group LTD raised its stake in Steven Madden by 16.5% in the first quarter. BlackRock Group LTD now owns 79,222 shares of the company’s stock valued at $2,935,000 after buying an additional 11,199 shares during the last quarter. Institutional investors and hedge funds own 93.23% of the company’s stock.
Steven Madden Ltd. (NASDAQ:SHOO) opened at 34.335 on Monday. The company has a market cap of $2.10 billion, a P/E ratio of 18.196 and a beta of 0.77. Steven Madden Ltd. has a 52 week low of $27.80 and a 52 week high of $38.48. The firm’s 50 day moving average is $34.70 and its 200-day moving average is $34.81.
Steven Madden (NASDAQ:SHOO) last posted its earnings results on Tuesday, August 2nd. The company reported $0.42 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.42. Steven Madden had a net margin of 8.02% and a return on equity of 16.36%. The firm had revenue of $325.40 million for the quarter, compared to the consensus estimate of $329.54 million. During the same period in the previous year, the firm posted $0.40 EPS. The business’s quarterly revenue was up .6% on a year-over-year basis. On average, analysts predict that Steven Madden Ltd. will post $1.99 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on the stock. Piper Jaffray Cos. reiterated a “hold” rating and set a $34.00 target price on shares of Steven Madden in a report on Friday, July 29th. Zacks Investment Research upgraded shares of Steven Madden from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 16th. Canaccord Genuity reiterated a “buy” rating and set a $40.00 target price on shares of Steven Madden in a report on Sunday, September 11th. B. Riley lowered shares of Steven Madden from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $47.00 to $40.00 in a report on Monday, August 1st. Finally, Buckingham Research lowered shares of Steven Madden from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $40.00 to $36.00 in a report on Monday, July 18th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $38.10.
In other news, Director Richard P. Randall sold 3,125 shares of the business’s stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $35.33, for a total value of $110,406.25. Following the sale, the director now directly owns 26,425 shares in the company, valued at approximately $933,595.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 2.20% of the stock is currently owned by insiders.
About Steven Madden
Want to see what other hedge funds are holding SHOO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Steven Madden Ltd. (NASDAQ:SHOO).
Receive News & Ratings for Steven Madden Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Steven Madden Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.