Maverick Capital Ltd. Takes $802,000 Position in Steven Madden, Ltd. $SHOO

Key Points

• Maverick Capital Ltd. has acquired 30,114 shares of Steven Madden, Ltd., valued at approximately $802,000, indicating strong institutional interest in the company.
• Analysts have mixed ratings on the stock, with one analyst upgrading it to "buy" and a consensus price target of $28.80, reflecting a range of perspectives on its market performance.
• Steven Madden recently declared a quarterly dividend of $0.21 per share, which translates to an annual yield of 2.9%, while maintaining a dividend payout ratio of 66.14%.

Maverick Capital Ltd. purchased a new position in Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 30,114 shares of the textile maker's stock, valued at approximately $802,000.

A number of other large investors have also made changes to their positions in the stock. Mariner LLC grew its position in shares of Steven Madden by 7.2% in the fourth quarter. Mariner LLC now owns 4,740 shares of the textile maker's stock valued at $202,000 after purchasing an additional 319 shares during the period. Hsbc Holdings PLC raised its stake in Steven Madden by 105.3% during the fourth quarter. Hsbc Holdings PLC now owns 21,690 shares of the textile maker's stock worth $925,000 after purchasing an additional 11,126 shares during the period. Northern Trust Corp boosted its holdings in shares of Steven Madden by 9.7% in the 4th quarter. Northern Trust Corp now owns 810,263 shares of the textile maker's stock valued at $34,452,000 after purchasing an additional 71,816 shares during the last quarter. Lido Advisors LLC grew its stake in shares of Steven Madden by 39.5% during the 4th quarter. Lido Advisors LLC now owns 7,611 shares of the textile maker's stock valued at $324,000 after buying an additional 2,154 shares during the period. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in shares of Steven Madden during the 4th quarter worth $398,000. Institutional investors and hedge funds own 99.88% of the company's stock.

Steven Madden Stock Up 0.7%

Shares of Steven Madden stock traded up $0.20 on Friday, hitting $30.32. 1,442,188 shares of the company's stock traded hands, compared to its average volume of 1,310,537. Steven Madden, Ltd. has a 52-week low of $19.05 and a 52-week high of $50.01. The company has a quick ratio of 1.13, a current ratio of 2.01 and a debt-to-equity ratio of 0.33. The stock has a market cap of $2.20 billion, a P/E ratio of 23.87 and a beta of 1.21. The firm's 50-day moving average is $26.51 and its 200 day moving average is $25.72.

Steven Madden (NASDAQ:SHOO - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The textile maker reported $0.20 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.24 by ($0.04). Steven Madden had a return on equity of 18.32% and a net margin of 3.92%.The company had revenue of $556.09 million during the quarter, compared to the consensus estimate of $575.83 million. During the same quarter last year, the firm posted $0.57 EPS. The firm's quarterly revenue was up 6.8% on a year-over-year basis. Equities analysts anticipate that Steven Madden, Ltd. will post 2.66 earnings per share for the current year.

Steven Madden Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 23rd. Stockholders of record on Friday, September 12th will be given a $0.21 dividend. The ex-dividend date is Friday, September 12th. This represents a $0.84 annualized dividend and a dividend yield of 2.8%. Steven Madden's dividend payout ratio (DPR) is presently 66.14%.

Wall Street Analyst Weigh In

SHOO has been the topic of a number of research reports. Needham & Company LLC restated a "hold" rating on shares of Steven Madden in a report on Wednesday, July 30th. Citigroup upgraded shares of Steven Madden from a "neutral" rating to a "buy" rating and lifted their target price for the company from $26.00 to $32.00 in a report on Thursday, July 17th. UBS Group boosted their price objective on Steven Madden from $23.00 to $26.00 and gave the stock a "neutral" rating in a research note on Monday, July 28th. Wall Street Zen lowered Steven Madden from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. Finally, Telsey Advisory Group restated a "market perform" rating and issued a $26.00 price target (up previously from $24.00) on shares of Steven Madden in a report on Wednesday, July 30th. One analyst has rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, Steven Madden presently has a consensus rating of "Hold" and a consensus target price of $28.80.

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.