New York State Teachers Retirement System Has $3.87 Million Stake in Steven Madden, Ltd. (NASDAQ:SHOO)

New York State Teachers Retirement System increased its holdings in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 0.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 79,020 shares of the textile maker’s stock after buying an additional 668 shares during the period. New York State Teachers Retirement System owned 0.11% of Steven Madden worth $3,871,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SHOO. abrdn plc lifted its stake in shares of Steven Madden by 2.7% in the 3rd quarter. abrdn plc now owns 558,015 shares of the textile maker’s stock valued at $27,242,000 after purchasing an additional 14,841 shares during the period. State of Alaska Department of Revenue increased its holdings in Steven Madden by 2.3% in the third quarter. State of Alaska Department of Revenue now owns 41,439 shares of the textile maker’s stock valued at $2,030,000 after purchasing an additional 933 shares during the last quarter. Louisiana State Employees Retirement System lifted its stake in Steven Madden by 1.2% in the third quarter. Louisiana State Employees Retirement System now owns 35,100 shares of the textile maker’s stock valued at $1,720,000 after buying an additional 400 shares during the period. Hennion & Walsh Asset Management Inc. bought a new position in Steven Madden during the third quarter worth about $205,000. Finally, International Assets Investment Management LLC boosted its holdings in Steven Madden by 4,800.0% during the third quarter. International Assets Investment Management LLC now owns 1,911 shares of the textile maker’s stock worth $94,000 after buying an additional 1,872 shares during the last quarter. 99.88% of the stock is owned by institutional investors.

Steven Madden Stock Down 2.6 %

Shares of SHOO stock opened at $44.23 on Thursday. Steven Madden, Ltd. has a 12-month low of $32.65 and a 12-month high of $50.01. The firm has a fifty day moving average of $46.40 and a 200-day moving average of $44.12. The company has a market capitalization of $3.21 billion, a price-to-earnings ratio of 18.05 and a beta of 1.08.

Steven Madden Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Friday, September 13th were issued a $0.21 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.90%. Steven Madden’s dividend payout ratio (DPR) is 34.29%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Wedbush reaffirmed a “neutral” rating and issued a $41.00 price target on shares of Steven Madden in a research note on Wednesday, August 7th. Piper Sandler reiterated a “neutral” rating and issued a $45.00 target price on shares of Steven Madden in a report on Friday, August 23rd. Telsey Advisory Group reissued a “market perform” rating and set a $50.00 price target on shares of Steven Madden in a research report on Wednesday, October 30th. Finally, StockNews.com upgraded shares of Steven Madden from a “hold” rating to a “buy” rating in a research report on Wednesday, September 18th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Steven Madden has a consensus rating of “Hold” and a consensus price target of $45.14.

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.