Louisiana State Employees Retirement System Buys Shares of 32,200 Steven Madden, Ltd. $SHOO

Louisiana State Employees Retirement System bought a new stake in shares of Steven Madden, Ltd. (NASDAQ:SHOO) during the first quarter, HoldingsChannel.com reports. The fund bought 32,200 shares of the textile maker’s stock, valued at approximately $1,092,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Public Employees Retirement System of Ohio boosted its holdings in Steven Madden by 13.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 2,324 shares of the textile maker’s stock valued at $78,000 after acquiring an additional 283 shares during the period. Oregon Public Employees Retirement Fund lifted its position in shares of Steven Madden by 1.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 16,640 shares of the textile maker’s stock worth $693,000 after purchasing an additional 300 shares during the last quarter. First Horizon Corp lifted its position in shares of Steven Madden by 55.1% during the fourth quarter. First Horizon Corp now owns 892 shares of the textile maker’s stock worth $37,000 after purchasing an additional 317 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in shares of Steven Madden by 2.4% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 13,738 shares of the textile maker’s stock valued at $572,000 after purchasing an additional 321 shares during the period. Finally, Thrivent Financial for Lutherans boosted its stake in shares of Steven Madden by 0.7% during the second quarter. Thrivent Financial for Lutherans now owns 53,404 shares of the textile maker’s stock valued at $1,281,000 after purchasing an additional 378 shares during the period. 99.88% of the stock is currently owned by hedge funds and other institutional investors.

Steven Madden Price Performance

SHOO opened at $39.92 on Friday. The company has a market capitalization of $2.92 billion, a price-to-earnings ratio of 38.02 and a beta of 1.15. The company has a current ratio of 2.23, a quick ratio of 1.42 and a debt-to-equity ratio of 0.30. Steven Madden, Ltd. has a 12-month low of $22.26 and a 12-month high of $47.10. The business’s fifty day simple moving average is $41.60 and its 200-day simple moving average is $40.02.

Steven Madden (NASDAQ:SHOO) last released its quarterly earnings data on Wednesday, May 6th. The textile maker reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.03. Steven Madden had a return on equity of 12.29% and a net margin of 2.89%.The firm had revenue of $653.10 million during the quarter, compared to the consensus estimate of $646.64 million. During the same period in the previous year, the company posted $0.60 earnings per share. The firm’s quarterly revenue was up 18.0% on a year-over-year basis. Steven Madden has set its FY 2026 guidance at 2.000-2.100 EPS. On average, equities research analysts anticipate that Steven Madden, Ltd. will post 2.09 earnings per share for the current fiscal year.

Steven Madden Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 19th. Shareholders of record on Monday, June 8th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, June 8th. This represents a $0.84 dividend on an annualized basis and a yield of 2.1%. Steven Madden’s dividend payout ratio (DPR) is 80.00%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SHOO. Needham & Company LLC upped their price target on shares of Steven Madden from $45.00 to $52.00 and gave the stock a “buy” rating in a report on Friday, June 12th. Zacks Research raised shares of Steven Madden from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 8th. UBS Group restated a “neutral” rating and issued a $40.00 target price (up from $38.00) on shares of Steven Madden in a research note on Monday, April 27th. Wall Street Zen raised shares of Steven Madden from a “hold” rating to a “buy” rating in a research report on Saturday, June 6th. Finally, Williams Trading set a $48.00 price target on shares of Steven Madden in a research note on Tuesday, March 10th. Five investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Steven Madden has an average rating of “Hold” and a consensus target price of $45.12.

Insider Activity

In other news, Director Arian Simone Reed sold 648 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $39.97, for a total transaction of $25,900.56. Following the transaction, the director directly owned 8,057 shares in the company, valued at approximately $322,038.29. This trade represents a 7.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Christina Ciglar sold 5,147 shares of Steven Madden stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $44.74, for a total transaction of $230,276.78. Following the transaction, the insider directly owned 35,200 shares in the company, valued at approximately $1,574,848. The trade was a 12.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 6,270 shares of company stock valued at $276,992. Company insiders own 2.21% of the company’s stock.

About Steven Madden

Steven Madden, Inc (NASDAQ: SHOO) is a New York–based designer and marketer of fashion footwear, handbags and accessories. The company’s product portfolio spans a range of contemporary and lifestyle brands for women, men and children, including its core Steve Madden label as well as the Madden Girl and Dolce Vita brands. In addition to footwear, the company licenses its trademarks for use on apparel, eyewear and other fashion accessories.

Steven Madden distributes its products through multiple channels, including wholesale partners, e-commerce platforms and its own brick-and-mortar retail stores.