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

Pacer Advisors Inc. bought a new stake in shares of Steven Madden, Ltd. (NASDAQ:SHOO) during the fourth quarter, Holdings Channel reports. The fund bought 1,712,027 shares of the textile maker’s stock, valued at approximately $72,795,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Mackenzie Financial Corp raised its holdings in shares of Steven Madden by 3.1% during the second quarter. Mackenzie Financial Corp now owns 8,232 shares of the textile maker’s stock valued at $348,000 after acquiring an additional 248 shares during the last quarter. Central Pacific Bank Trust Division raised its stake in Steven Madden by 7.4% in the 4th quarter. Central Pacific Bank Trust Division now owns 4,202 shares of the textile maker’s stock valued at $179,000 after purchasing an additional 290 shares during the last quarter. Blue Trust Inc. lifted its holdings in Steven Madden by 20.9% in the 4th quarter. Blue Trust Inc. now owns 1,958 shares of the textile maker’s stock valued at $83,000 after purchasing an additional 339 shares in the last quarter. Louisiana State Employees Retirement System boosted its stake in Steven Madden by 1.2% during the 3rd quarter. Louisiana State Employees Retirement System now owns 35,100 shares of the textile maker’s stock worth $1,720,000 after purchasing an additional 400 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Steven Madden by 1.2% during the second quarter. The Manufacturers Life Insurance Company now owns 40,141 shares of the textile maker’s stock worth $1,698,000 after buying an additional 484 shares in the last quarter. Institutional investors and hedge funds own 99.88% of the company’s stock.

Steven Madden Stock Performance

SHOO opened at $41.50 on Monday. The business’s 50 day moving average price is $42.84 and its 200 day moving average price is $44.40. The stock has a market capitalization of $3.00 billion, a PE 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 quarterly earnings results on Thursday, November 7th. The textile maker reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.02. The business had revenue of $624.68 million during the quarter, compared to analysts’ expectations of $607.89 million. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. The company’s revenue was up 13.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.88 EPS. As a group, equities research analysts forecast that Steven Madden, Ltd. will post 2.66 earnings per share for the current fiscal year.

Steven Madden Dividend Announcement

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

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Citigroup raised their price target on shares of Steven Madden from $43.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Needham & Company LLC restated a “hold” rating on shares of Steven Madden in a report on Thursday, December 5th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $50.00 price target on shares of Steven Madden in a report on Wednesday, November 13th. Finally, StockNews.com lowered Steven Madden from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $46.33.

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.