Pacer Advisors Inc. Makes New $72.80 Million Investment in Steven Madden, Ltd. (NASDAQ:SHOO)

Pacer Advisors Inc. purchased a new stake in Steven Madden, Ltd. (NASDAQ:SHOO) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 1,712,027 shares of the textile maker’s stock, valued at approximately $72,795,000. Pacer Advisors Inc. owned 2.37% of Steven Madden at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Gladius Capital Management LP bought a new stake in Steven Madden during the third quarter valued at about $36,000. Exchange Traded Concepts LLC bought a new stake in shares of Steven Madden in the 3rd quarter valued at about $59,000. GAMMA Investing LLC boosted its holdings in shares of Steven Madden by 80.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,329 shares of the textile maker’s stock valued at $65,000 after buying an additional 593 shares in the last quarter. Blue Trust Inc. grew its position in shares of Steven Madden by 94.1% in the 3rd quarter. Blue Trust Inc. now owns 1,619 shares of the textile maker’s stock worth $79,000 after buying an additional 785 shares during the last quarter. Finally, International Assets Investment Management LLC raised its stake in shares of Steven Madden by 4,800.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,911 shares of the textile maker’s stock worth $94,000 after acquiring an additional 1,872 shares in the last quarter. 99.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SHOO has been the subject of several recent analyst reports. Telsey Advisory Group restated a “market perform” rating and issued a $50.00 target price on shares of Steven Madden in a research note on Wednesday, November 13th. StockNews.com downgraded Steven Madden from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Needham & Company LLC reiterated a “hold” rating on shares of Steven Madden in a research note on Thursday, December 5th. Finally, Citigroup boosted their price target on Steven Madden from $43.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $46.33.

Steven Madden Stock Performance

Shares of SHOO opened at $41.50 on Monday. The stock has a 50-day moving average of $42.84 and a two-hundred day moving average of $44.40. The stock has a market cap of $3.00 billion, a P/E ratio of 17.66 and a beta of 1.08. Steven Madden, Ltd. has a one year low of $37.99 and a one year high of $50.01.

Steven Madden (NASDAQ:SHOO) last released its earnings results on Thursday, November 7th. The textile maker reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.02. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. The firm had revenue of $624.68 million during the quarter, compared to the consensus estimate of $607.89 million. During the same quarter in the previous year, the company posted $0.88 earnings per share. The company’s revenue was up 13.0% compared to the same quarter last year. Analysts predict that Steven Madden, Ltd. will post 2.66 EPS for the current fiscal year.

Steven Madden Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were issued a dividend of $0.21 per share. The ex-dividend date was Friday, December 13th. This represents a $0.84 annualized dividend and a dividend yield of 2.02%. Steven Madden’s dividend payout ratio (DPR) is presently 35.74%.

Steven Madden 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.