AlphaQuest LLC Purchases 10,890 Shares of Steven Madden, Ltd. $SHOO

Key Points

• AlphaQuest LLC increased its stake in Steven Madden, Ltd. by 37.4%, acquiring an additional 10,890 shares, bringing its total holdings to 40,025 shares valued at $1,066,000.
• Several equities analysts have set new price targets for Steven Madden, with Citigroup raising it from $26.00 to $32.00 and Telsey Advisory Group adjusting it from $24.00 to $26.00.
• Steven Madden recently announced a $0.21 quarterly dividend, with a pay date of September 23rd, representing an annualized yield of 2.9% and a payout ratio of 66.14%.

AlphaQuest LLC grew its position in Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 37.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 40,025 shares of the textile maker's stock after acquiring an additional 10,890 shares during the quarter. AlphaQuest LLC owned 0.06% of Steven Madden worth $1,066,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. increased its stake in Steven Madden by 4.5% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 2,452,407 shares of the textile maker's stock worth $65,333,000 after acquiring an additional 106,028 shares during the last quarter. Capital Fund Management S.A. bought a new stake in Steven Madden in the 1st quarter worth approximately $3,832,000. Wellington Management Group LLP increased its stake in Steven Madden by 1.8% in the 1st quarter. Wellington Management Group LLP now owns 4,802,603 shares of the textile maker's stock worth $127,941,000 after acquiring an additional 84,570 shares during the last quarter. Versor Investments LP increased its stake in Steven Madden by 141.2% in the 1st quarter. Versor Investments LP now owns 32,083 shares of the textile maker's stock worth $855,000 after acquiring an additional 18,783 shares during the last quarter. Finally, Algert Global LLC increased its stake in Steven Madden by 1,100.5% in the 1st quarter. Algert Global LLC now owns 135,060 shares of the textile maker's stock worth $3,598,000 after acquiring an additional 123,810 shares during the last quarter. Institutional investors own 99.88% of the company's stock.

Analysts Set New Price Targets

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

Steven Madden Stock Performance

Shares of Steven Madden stock opened at $28.53 on Friday. The stock's fifty day moving average is $25.42 and its two-hundred day moving average is $26.28. The company has a market capitalization of $2.07 billion, a PE ratio of 22.46 and a beta of 1.16. The company has a quick ratio of 1.13, a current ratio of 2.01 and a debt-to-equity ratio of 0.33. Steven Madden, Ltd. has a 52 week low of $19.05 and a 52 week high of $50.01.

Steven Madden (NASDAQ:SHOO - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The textile maker reported $0.20 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.04). The business had revenue of $556.09 million during the quarter, compared to the consensus estimate of $575.83 million. Steven Madden had a net margin of 3.92% and a return on equity of 18.32%. The business's revenue was up 6.8% compared to the same quarter last year. During the same period last year, the company earned $0.57 EPS. As a group, analysts expect 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. Shareholders of record on Friday, September 12th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Friday, September 12th. Steven Madden's dividend payout ratio is 66.14%.

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.

Want to see what other hedge funds are holding SHOO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Steven Madden, Ltd. (NASDAQ:SHOO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.