Algert Global LLC Acquires 123,810 Shares of 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 grew its stake in shares of 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. The firm owned 135,060 shares of the textile maker's stock after purchasing an additional 123,810 shares during the period. 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.

Other institutional investors have also recently made changes to their positions in the company. Deutsche Bank AG raised its holdings in shares of Steven Madden by 49.0% during the fourth quarter. Deutsche Bank AG now owns 64,998 shares of the textile maker's stock valued at $2,764,000 after purchasing an additional 21,363 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Steven Madden by 2.8% during the first quarter. Principal Financial Group Inc. now owns 391,937 shares of the textile maker's stock valued at $10,441,000 after purchasing an additional 10,741 shares during the period. Bank of Montreal Can raised its holdings in shares of Steven Madden by 5.5% during the fourth quarter. Bank of Montreal Can now owns 10,660 shares of the textile maker's stock valued at $453,000 after purchasing an additional 554 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of Steven Madden by 29.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,455,381 shares of the textile maker's stock valued at $39,907,000 after purchasing an additional 332,689 shares during the period. Finally, Harbor Capital Advisors Inc. raised its holdings in shares of Steven Madden by 62.3% during the first quarter. Harbor Capital Advisors Inc. now owns 201,696 shares of the textile maker's stock valued at $5,373,000 after purchasing an additional 77,425 shares during the period. Institutional investors and hedge funds own 99.88% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on SHOO shares. UBS Group upped their target price on shares of Steven Madden from $23.00 to $26.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. Needham & Company LLC reiterated a "hold" rating on shares of Steven Madden in a research note on Wednesday, July 30th. Wall Street Zen lowered shares of Steven Madden from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. Telsey Advisory Group reiterated a "market perform" rating and issued a $26.00 price objective (up previously from $24.00) on shares of Steven Madden in a research note on Wednesday, July 30th. Finally, Citigroup raised shares of Steven Madden from a "neutral" rating to a "buy" rating and increased their target price for the company from $26.00 to $32.00 in a research report on Thursday, July 17th. One equities research analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, Steven Madden presently has a consensus rating of "Hold" and a consensus price target of $28.80.

Steven Madden Stock Performance

Shares of Steven Madden stock traded down $0.50 on Monday, reaching $28.03. 1,173,535 shares of the company traded hands, compared to its average volume of 1,825,735. Steven Madden, Ltd. has a 52 week low of $19.05 and a 52 week high of $50.01. The company has a 50 day moving average of $25.49 and a 200 day moving average of $26.13. The firm has a market capitalization of $2.04 billion, a PE ratio of 22.07 and a beta of 1.16. 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 released its earnings results 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). Steven Madden had a net margin of 3.92% and a return on equity of 18.32%. The company had revenue of $556.09 million for the quarter, compared to the consensus estimate of $575.83 million. During the same period in the prior year, the company earned $0.57 earnings per share. The firm's revenue was up 6.8% on a year-over-year basis. Equities analysts forecast that Steven Madden, Ltd. will post 2.66 earnings per share for the current year.

Steven Madden Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 23rd. Investors of record on Friday, September 12th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Friday, September 12th. This represents a $0.84 annualized dividend and a yield of 3.0%. Steven Madden's dividend payout ratio (DPR) is 66.14%.

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.