Steven Madden, Ltd. (SHOO) Shares Bought by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System raised its holdings in Steven Madden, Ltd. (NASDAQ:SHOO) by 0.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 53,280 shares of the textile maker’s stock after buying an additional 217 shares during the quarter. State Board of Administration of Florida Retirement System owned about 0.09% of Steven Madden worth $2,129,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Jennison Associates LLC raised its stake in Steven Madden by 0.4% in the second quarter. Jennison Associates LLC now owns 11,834 shares of the textile maker’s stock valued at $473,000 after buying an additional 44 shares during the last quarter. First Mercantile Trust Co. raised its stake in Steven Madden by 1.7% in the second quarter. First Mercantile Trust Co. now owns 3,570 shares of the textile maker’s stock valued at $143,000 after buying an additional 60 shares during the last quarter. Blair William & Co. IL raised its stake in Steven Madden by 0.4% in the first quarter. Blair William & Co. IL now owns 52,521 shares of the textile maker’s stock valued at $2,025,000 after buying an additional 204 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its stake in Steven Madden by 2.3% in the second quarter. Municipal Employees Retirement System of Michigan now owns 12,720 shares of the textile maker’s stock valued at $508,000 after buying an additional 290 shares during the last quarter. Finally, Elkfork Partners LLC raised its stake in Steven Madden by 17.5% in the first quarter. Elkfork Partners LLC now owns 2,662 shares of the textile maker’s stock valued at $103,000 after buying an additional 396 shares during the last quarter. Institutional investors own 91.36% of the company’s stock.

SHOO has been the subject of a number of research analyst reports. Zacks Investment Research upgraded Steven Madden from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a research note on Tuesday, June 27th. Canaccord Genuity set a $45.00 price target on Steven Madden and gave the company a “buy” rating in a research note on Friday, May 26th. Piper Jaffray Companies set a $41.00 price target on Steven Madden and gave the company a “buy” rating in a research note on Wednesday, May 31st. ValuEngine upgraded Steven Madden from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Finally, BidaskClub upgraded Steven Madden from a “hold” rating to a “buy” rating in a research note on Wednesday, July 5th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Steven Madden has a consensus rating of “Buy” and an average price target of $43.96.

In other news, Director Rose Peabody Lynch sold 2,240 shares of the business’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $39.32, for a total value of $88,076.80. Following the completion of the sale, the director now directly owns 4,754 shares of the company’s stock, valued at approximately $186,927.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Karla Frieders sold 5,000 shares of the business’s stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $38.61, for a total value of $193,050.00. Following the completion of the sale, the insider now directly owns 83,216 shares of the company’s stock, valued at $3,212,969.76. The disclosure for this sale can be found here. 2.06% of the stock is currently owned by insiders.

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Steven Madden, Ltd. (SHOO) opened at 42.05 on Tuesday. Steven Madden, Ltd. has a one year low of $32.30 and a one year high of $43.80. The firm has a market capitalization of $2.49 billion, a price-to-earnings ratio of 20.25 and a beta of 0.51. The stock has a 50 day moving average price of $41.74 and a 200-day moving average price of $39.05.

Steven Madden (NASDAQ:SHOO) last posted its earnings results on Tuesday, August 1st. The textile maker reported $0.51 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.06. Steven Madden had a return on equity of 17.57% and a net margin of 8.19%. The business had revenue of $374.15 million during the quarter, compared to the consensus estimate of $355.22 million. During the same period in the previous year, the business earned $0.42 EPS. The business’s quarterly revenue was up 15.0% on a year-over-year basis. On average, analysts predict that Steven Madden, Ltd. will post $2.25 earnings per share for the current fiscal year.

About Steven Madden

Steven Madden, Ltd. and its subsidiaries design, source, market and sell name brand and private label footwear for women, men and children, and name brand and private label fashion handbags and accessories. The Company operates through five segments: Wholesale Footwear, Wholesale Accessories, Retail, First Cost and Licensing.

Institutional Ownership by Quarter for Steven Madden (NASDAQ:SHOO)

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