Algert Global LLC Increases Holdings in Steven Madden, Ltd. $SHOO

Key Points

• Algert Global LLC significantly increased its stake in Steven Madden, Ltd. by 1,100.5% during Q1, reaching a total of 135,060 shares valued at approximately $3.60 million.
• Steven Madden reported Q2 earnings of $0.20 per share, which fell short of the consensus estimate of $0.24, along with revenues of $556.09 million, below the expected $575.83 million.
• The company announced a quarterly dividend of $0.21 per share, which reflects an annualized yield of 3.1% and a payout ratio of 66.14%.

Algert Global LLC increased its holdings in Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 1,100.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 135,060 shares of the textile maker's stock after purchasing an additional 123,810 shares during the quarter. Algert Global LLC owned approximately 0.19% of Steven Madden worth $3,598,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also bought and sold shares of SHOO. Mariner LLC boosted its position in shares of Steven Madden by 7.2% in the 4th quarter. Mariner LLC now owns 4,740 shares of the textile maker's stock worth $202,000 after purchasing an additional 319 shares in the last quarter. Tidal Investments LLC boosted its position in shares of Steven Madden by 2.4% in the 4th quarter. Tidal Investments LLC now owns 17,784 shares of the textile maker's stock worth $756,000 after purchasing an additional 409 shares in the last quarter. Bank of Montreal Can boosted its position in shares of Steven Madden by 5.5% in the 4th quarter. Bank of Montreal Can now owns 10,660 shares of the textile maker's stock worth $453,000 after purchasing an additional 554 shares in the last quarter. Vident Advisory LLC boosted its position in shares of Steven Madden by 4.6% in the 4th quarter. Vident Advisory LLC now owns 17,267 shares of the textile maker's stock worth $734,000 after purchasing an additional 756 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in shares of Steven Madden by 3.8% in the 4th quarter. Envestnet Asset Management Inc. now owns 22,198 shares of the textile maker's stock worth $944,000 after purchasing an additional 804 shares in the last quarter. 99.88% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on SHOO. UBS Group boosted their price target on Steven Madden from $23.00 to $26.00 and gave the stock a "neutral" rating in a research report on Monday, July 28th. Telsey Advisory Group reissued a "market perform" rating and issued a $26.00 price target (up from $24.00) on shares of Steven Madden in a research report on Wednesday, July 30th. Wall Street Zen cut Steven Madden from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. Needham & Company LLC reissued a "hold" rating on shares of Steven Madden in a research report on Wednesday, July 30th. Finally, Citigroup upgraded shares of Steven Madden from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $26.00 to $32.00 in a report on Thursday, July 17th. One analyst has rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, Steven Madden currently has a consensus rating of "Hold" and an average target price of $28.80.

Steven Madden Stock Up 5.2%

NASDAQ SHOO traded up $1.40 during mid-day trading on Friday, reaching $28.53. The stock had a trading volume of 1,449,878 shares, compared to its average volume of 1,807,009. Steven Madden, Ltd. has a 1 year low of $19.05 and a 1 year high of $50.01. The stock has a market cap of $2.07 billion, a PE ratio of 22.46 and a beta of 1.16. The company has a fifty day moving average price of $25.42 and a 200 day moving average price of $26.36. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.01 and a quick ratio of 1.13.

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

Steven Madden Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders of record on Friday, September 12th will be paid a dividend of $0.21 per share. The ex-dividend date is Friday, September 12th. This represents a $0.84 dividend on an annualized basis and a yield of 2.9%. Steven Madden's payout ratio is currently 66.14%.

About Steven Madden

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.