Allspring Global Investments Holdings LLC Buys 224,157 Shares of Steven Madden, Ltd. $SHOO

Key Points

• Allspring Global Investments increased its stake in Steven Madden, Ltd. by 15.4%, acquiring an additional 224,157 shares to own approximately 2.31% of the company, valued at $42.3 million.
• Steven Madden reported a net margin of 3.92% and a return on equity of 18.32% in its latest earnings release, missing EPS estimates by $0.04.
• The company announced a quarterly dividend of $0.21, resulting in an annualized dividend yield of 2.4% with a payout ratio of 66.14%.

Allspring Global Investments Holdings LLC boosted its stake in shares of Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 15.4% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,679,538 shares of the textile maker's stock after buying an additional 224,157 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 2.31% of Steven Madden worth $42,324,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. CX Institutional bought a new position in Steven Madden during the first quarter valued at about $32,000. Caitong International Asset Management Co. Ltd grew its position in Steven Madden by 328.8% during the first quarter. Caitong International Asset Management Co. Ltd now owns 2,161 shares of the textile maker's stock valued at $58,000 after buying an additional 1,657 shares during the period. Signaturefd LLC grew its position in Steven Madden by 475.5% during the second quarter. Signaturefd LLC now owns 2,492 shares of the textile maker's stock valued at $60,000 after buying an additional 2,059 shares during the period. CWM LLC grew its position in Steven Madden by 231.0% during the first quarter. CWM LLC now owns 2,277 shares of the textile maker's stock valued at $61,000 after buying an additional 1,589 shares during the period. Finally, Covestor Ltd grew its position in Steven Madden by 22.9% during the first quarter. Covestor Ltd now owns 4,906 shares of the textile maker's stock valued at $130,000 after buying an additional 915 shares during the period. Institutional investors own 99.88% of the company's stock.

Steven Madden Price Performance

SHOO stock opened at $35.34 on Thursday. The firm has a 50 day moving average of $30.66 and a 200-day moving average of $26.31. The company has a current ratio of 2.01, a quick ratio of 1.13 and a debt-to-equity ratio of 0.33. Steven Madden, Ltd. has a 12 month low of $19.05 and a 12 month high of $49.08. The firm has a market capitalization of $2.57 billion, a P/E ratio of 27.83 and a beta of 1.22.

Steven Madden (NASDAQ:SHOO - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The textile maker reported $0.20 EPS 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 firm 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 business posted $0.57 earnings per share. Steven Madden's revenue was up 6.8% compared to the same quarter last year. As a group, sell-side analysts predict that Steven Madden, Ltd. will post 2.66 earnings per share for the current fiscal year.

Steven Madden Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 23rd. Stockholders of record on Friday, September 12th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Friday, September 12th. Steven Madden's dividend payout ratio (DPR) is 66.14%.

Analyst Ratings Changes

Several equities analysts recently weighed in on SHOO shares. Wall Street Zen lowered shares of Steven Madden from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. BTIG Research increased their target price on shares of Steven Madden from $34.00 to $40.00 and gave the stock a "buy" rating in a research report on Thursday, October 9th. 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, July 28th. Citigroup upgraded shares of Steven Madden from a "neutral" rating to a "buy" rating and increased their target price for the stock from $26.00 to $32.00 in a research report on Thursday, July 17th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Steven Madden in a research report on Wednesday, July 30th. Three research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $33.17.

Steven Madden 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.

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