Illinois Municipal Retirement Fund Has $1.70 Million Stock Position in Steven Madden, Ltd. (NASDAQ:SHOO)

Illinois Municipal Retirement Fund raised its holdings in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 7.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 39,892 shares of the textile maker’s stock after purchasing an additional 2,907 shares during the period. Illinois Municipal Retirement Fund’s holdings in Steven Madden were worth $1,696,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of SHOO. Central Pacific Bank Trust Division raised 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 worth $179,000 after buying an additional 290 shares during the last quarter. Blue Trust Inc. grew its holdings in Steven Madden by 20.9% during the 4th quarter. Blue Trust Inc. now owns 1,958 shares of the textile maker’s stock worth $83,000 after acquiring an additional 339 shares during the period. KBC Group NV raised its position in shares of Steven Madden by 34.1% during the 3rd quarter. KBC Group NV now owns 2,208 shares of the textile maker’s stock valued at $108,000 after acquiring an additional 561 shares during the last quarter. New York State Teachers Retirement System lifted its stake in shares of Steven Madden by 0.8% in the 4th quarter. New York State Teachers Retirement System now owns 79,672 shares of the textile maker’s stock valued at $3,388,000 after purchasing an additional 652 shares during the period. Finally, Gladius Capital Management LP acquired a new position in shares of Steven Madden in the 3rd quarter valued at $36,000. Institutional investors own 99.88% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on SHOO shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Steven Madden in a research note on Thursday. Citigroup decreased their target price on Steven Madden from $38.00 to $35.00 and set a “neutral” rating for the company in a research report on Thursday. Telsey Advisory Group cut their price target on shares of Steven Madden from $44.00 to $38.00 and set a “market perform” rating on the stock in a research report on Thursday. Piper Sandler reduced their price objective on shares of Steven Madden from $45.00 to $40.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 4th. Finally, Jefferies Financial Group reaffirmed a “hold” rating on shares of Steven Madden in a research note on Monday, February 3rd. Eight analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Steven Madden currently has an average rating of “Hold” and an average price target of $40.33.

Steven Madden Stock Performance

Shares of SHOO opened at $32.79 on Friday. The firm has a market capitalization of $2.37 billion, a PE ratio of 13.95 and a beta of 1.07. The stock has a 50 day simple moving average of $40.07 and a 200 day simple moving average of $43.49. Steven Madden, Ltd. has a 52-week low of $32.31 and a 52-week high of $50.01.

Steven Madden (NASDAQ:SHOO) last released its quarterly earnings results on Wednesday, February 26th. The textile maker reported $0.55 earnings per share for the quarter, beating 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 company had revenue of $582.32 million during the quarter, compared to analysts’ expectations of $550.37 million. Equities research analysts predict that Steven Madden, Ltd. will post 2.66 EPS for the current fiscal year.

Steven Madden Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Monday, March 10th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.56%. The ex-dividend date is Monday, March 10th. Steven Madden’s dividend payout ratio is 35.74%.

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.