Allianz Asset Management GmbH Buys 81,014 Shares of Steven Madden, Ltd. (NASDAQ:SHOO)

Key Points

• Allianz Asset Management GmbH increased its holdings in Steven Madden, Ltd. by 41.9% in the first quarter, acquiring an additional 81,014 shares, totaling 274,595 shares valued at approximately $7.3 million.
• Steven Madden reported earnings per share (EPS) of $0.60 for the last quarter, surpassing the consensus estimate of $0.46, while revenue was slightly below expectations at $551.38 million.
• The company recently announced a quarterly dividend of $0.21 per share, representing an annualized dividend of $0.84 and a yield of 3.11% with a payout ratio of 36.21%.

Allianz Asset Management GmbH grew its position in Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 41.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 274,595 shares of the textile maker's stock after acquiring an additional 81,014 shares during the period. Allianz Asset Management GmbH owned about 0.38% of Steven Madden worth $7,315,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in SHOO. HighTower Advisors LLC increased its position in Steven Madden by 11.7% during the fourth quarter. HighTower Advisors LLC now owns 6,439 shares of the textile maker's stock worth $274,000 after purchasing an additional 676 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Steven Madden by 53.4% in the 4th quarter. American Century Companies Inc. now owns 74,779 shares of the textile maker's stock valued at $3,180,000 after buying an additional 26,043 shares during the period. KLP Kapitalforvaltning AS acquired a new position in shares of Steven Madden in the 4th quarter valued at about $1,278,000. Vanguard Group Inc. boosted its stake in Steven Madden by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 8,097,339 shares of the textile maker's stock valued at $344,299,000 after purchasing an additional 54,877 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in Steven Madden by 26.4% during the 4th quarter. JPMorgan Chase & Co. now owns 584,068 shares of the textile maker's stock valued at $24,835,000 after purchasing an additional 121,972 shares during the period. Hedge funds and other institutional investors own 99.88% of the company's stock.

Steven Madden Price Performance

NASDAQ SHOO traded up $0.12 on Thursday, reaching $23.99. 594,608 shares of the company's stock traded hands, compared to its average volume of 1,538,255. Steven Madden, Ltd. has a 12 month low of $19.05 and a 12 month high of $50.01. The stock has a 50-day simple moving average of $25.03 and a 200 day simple moving average of $28.10. The stock has a market cap of $1.74 billion, a PE ratio of 10.35 and a beta of 1.10.

Steven Madden (NASDAQ:SHOO - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The textile maker reported $0.20 EPS for the quarter, missing analysts' consensus estimates of $0.24 by ($0.04). The business 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 21.63% and a net margin of 7.26%. The business's revenue was up 6.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.57 EPS. As a group, analysts anticipate that Steven Madden, Ltd. will post 2.66 EPS for the current year.

Steven Madden Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Monday, June 9th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 3.50%. Steven Madden's payout ratio is presently 36.21%.

Analyst Ratings Changes

SHOO has been the topic of a number of recent analyst reports. Citigroup upgraded shares of Steven Madden from a "neutral" rating to a "buy" rating and boosted their price target for the company from $26.00 to $32.00 in a report on Thursday, July 17th. UBS Group increased their target price on shares of Steven Madden from $23.00 to $26.00 and gave the stock a "neutral" rating in a research report on Monday. Needham & Company LLC reiterated a "hold" rating on shares of Steven Madden in a research report on Wednesday. Piper Sandler cut their price target on shares of Steven Madden from $35.00 to $25.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Finally, Telsey Advisory Group reiterated a "market perform" rating and issued a $26.00 price objective (up from $24.00) on shares of Steven Madden in a report on Wednesday. Eight investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Steven Madden presently has a consensus rating of "Hold" and an average price target of $30.83.

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.