American Century Companies Inc. Boosts Holdings in Steven Madden, Ltd. $SHOO

Key Points

• American Century Companies Inc. has increased its stake in Steven Madden, Ltd. by 74%, owning approximately 0.18% of the company valued at $3.47 million after acquiring 55,300 shares.
• Despite reporting a quarterly earnings miss of $0.20 per share against an expected $0.24, Steven Madden's revenue was up 6.8% year-over-year, totaling $556.09 million.
• The company has declared a quarterly dividend of $0.21, representing an annualized yield of 2.9%, with the payout ratio currently at 66.14%.

American Century Companies Inc. grew its stake in shares of Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 74.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 130,079 shares of the textile maker's stock after acquiring an additional 55,300 shares during the period. American Century Companies Inc. owned 0.18% of Steven Madden worth $3,465,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. CX Institutional acquired a new stake in Steven Madden during the first quarter worth approximately $32,000. Caitong International Asset Management Co. Ltd grew its stake in shares of 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 worth $58,000 after buying an additional 1,657 shares during the last quarter. CWM LLC grew its stake in shares of Steven Madden by 231.0% during the first quarter. CWM LLC now owns 2,277 shares of the textile maker's stock worth $61,000 after buying an additional 1,589 shares during the last quarter. Mariner LLC grew its stake in shares of Steven Madden by 7.2% in the fourth quarter. Mariner LLC now owns 4,740 shares of the textile maker's stock worth $202,000 after purchasing an additional 319 shares during the last quarter. Finally, Covestor Ltd lifted its holdings in Steven Madden by 22.9% in 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. 99.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SHOO has been the topic of several recent analyst reports. UBS Group boosted their target price on shares of Steven Madden from $23.00 to $26.00 and gave the company a "neutral" rating in a report on Monday, July 28th. Needham & Company LLC restated a "hold" rating on shares of Steven Madden in a report on Wednesday, July 30th. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $26.00 price objective (up from $24.00) on shares of Steven Madden in a research report on Wednesday, July 30th. Wall Street Zen downgraded shares of Steven Madden from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. Finally, Citigroup raised shares of Steven Madden from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $26.00 to $32.00 in a research report on Thursday, July 17th. One research analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $28.80.

Steven Madden Stock Performance

SHOO traded up $0.62 on Thursday, hitting $29.73. The company's stock had a trading volume of 684,683 shares, compared to its average volume of 1,547,190. The company's 50 day simple moving average is $26.27 and its 200-day simple moving average is $25.85. The firm has a market cap of $2.16 billion, a P/E ratio of 23.41 and a beta of 1.21. Steven Madden, Ltd. has a 12 month low of $19.05 and a 12 month high of $50.01. 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 (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 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 return on equity of 18.32% and a net margin of 3.92%.The firm's quarterly revenue was up 6.8% on a year-over-year basis. During the same period last year, the business posted $0.57 earnings per share. Analysts forecast that Steven Madden, Ltd. will post 2.66 EPS for the current year.

Steven Madden Dividend Announcement

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 2.8%. Steven Madden's dividend payout ratio (DPR) 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.