State of Wisconsin Investment Board increased its position in Steven Madden, Ltd. (NASDAQ:SHOO) by 37.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 459,800 shares of the textile maker’s stock after purchasing an additional 124,800 shares during the quarter. State of Wisconsin Investment Board’s holdings in Steven Madden were worth $15,560,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently bought and sold shares of SHOO. Quadrant Capital Group LLC raised its position in shares of Steven Madden by 1,100.0% during the first quarter. Quadrant Capital Group LLC now owns 804 shares of the textile maker’s stock worth $26,000 after acquiring an additional 737 shares during the last quarter. Advisors Asset Management Inc. increased its holdings in Steven Madden by 61.6% in the fourth quarter. Advisors Asset Management Inc. now owns 832 shares of the textile maker’s stock worth $25,000 after purchasing an additional 317 shares in the last quarter. Resources Investment Advisors Inc. increased its holdings in shares of Steven Madden by 50.0% during the fourth quarter. Resources Investment Advisors Inc. now owns 885 shares of the textile maker’s stock valued at $27,000 after acquiring an additional 295 shares in the last quarter. Bessemer Group Inc. bought a new stake in shares of Steven Madden during the fourth quarter valued at approximately $42,000. Finally, Valeo Financial Advisors LLC bought a new stake in shares of Steven Madden during the first quarter valued at approximately $60,000. Hedge funds and other institutional investors own 96.11% of the company’s stock.
NASDAQ SHOO traded down $0.15 on Wednesday, hitting $32.49. 3,898 shares of the company traded hands, compared to its average volume of 560,944. The company has a market capitalization of $2.73 billion, a PE ratio of 17.89, a price-to-earnings-growth ratio of 1.93 and a beta of 0.77. Steven Madden, Ltd. has a 52-week low of $27.88 and a 52-week high of $39.30.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Tuesday, June 18th will be paid a dividend of $0.14 per share. The ex-dividend date is Monday, June 17th. This represents a $0.56 annualized dividend and a yield of 1.72%. Steven Madden’s payout ratio is currently 30.60%.
In related news, Director Robert Garrett Smith sold 9,267 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $31.00, for a total value of $287,277.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael Paradise sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $35.99, for a total transaction of $71,980.00. The disclosure for this sale can be found here. Insiders have sold 14,027 shares of company stock valued at $458,148 in the last 90 days. Company insiders own 1.96% of the company’s stock.
Several brokerages recently issued reports on SHOO. Telsey Advisory Group reaffirmed a “market perform” rating and set a $36.00 target price (down previously from $38.00) on shares of Steven Madden in a research report on Thursday, June 6th. Zacks Investment Research lowered Steven Madden from a “buy” rating to a “hold” rating in a research note on Thursday, May 16th. ValuEngine lowered Steven Madden from a “hold” rating to a “sell” rating in a research note on Wednesday, May 15th. BidaskClub lowered Steven Madden from a “hold” rating to a “sell” rating in a research note on Tuesday, May 14th. Finally, Piper Jaffray Companies lowered Steven Madden from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $38.00 to $32.00 in a research note on Tuesday, May 14th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. Steven Madden presently has a consensus rating of “Hold” and an average price target of $35.23.
Steven Madden Profile
Steven Madden, Ltd. designs, sources, markets, and sells fashion-forward name brand and private label footwear for women, men, and children worldwide. Its Wholesale Footwear segment provides footwear under the Steve Madden Women's, Madden Girl, Steve Madden Men's, Madden, Madden NYC, Report, Dolce Vita, DV by Dolce Vita, Mad Love, Steven by Steve Madden, Superga, Betsey Johnson, Betseyville, Steve Madden Kids, Stevies, Brian Atwood, Blondo, Kate Spade, and Anne Klein brands, as well as private label footwear.
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