Broad Peak Investment Advisers Pte Ltd Makes New $3.35 Million Investment in Steven Madden, Ltd. $SHOO

Key Points

• Broad Peak Investment Advisers purchased a new stake of 80,400 shares in Steven Madden (NASDAQ:SHOO) during Q4, valued at about $3.35 million, representing 0.6% of Broad Peak's portfolio and roughly 0.11% of Steven Madden's outstanding shares.
• Analysts' consensus rating on SHOO is a Hold with an average price target of $44 (five Buys, three Holds, one Sell), while individual targets range from $30 to $50.
• Steven Madden recently beat quarterly EPS estimates ($0.48 vs. $0.46) with revenue up 29.6% year-over-year; the company has a $2.82 billion market cap and pays a $0.21 quarterly dividend (about a 2.2% yield).

Broad Peak Investment Advisers Pte Ltd purchased a new stake in Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 80,400 shares of the textile maker's stock, valued at approximately $3,348,000. Steven Madden accounts for 0.6% of Broad Peak Investment Advisers Pte Ltd's investment portfolio, making the stock its 20th biggest position. Broad Peak Investment Advisers Pte Ltd owned about 0.11% of Steven Madden at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in SHOO. First Horizon Corp grew its holdings in shares of Steven Madden by 55.1% in the 4th quarter. First Horizon Corp now owns 892 shares of the textile maker's stock valued at $37,000 after acquiring an additional 317 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in Steven Madden in the 3rd quarter valued at about $31,000. Farther Finance Advisors LLC lifted its stake in Steven Madden by 79.4% in the 4th quarter. Farther Finance Advisors LLC now owns 983 shares of the textile maker's stock valued at $41,000 after purchasing an additional 435 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Steven Madden by 86.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,045 shares of the textile maker's stock valued at $25,000 after purchasing an additional 485 shares during the last quarter. Finally, Parkside Financial Bank & Trust lifted its stake in Steven Madden by 616.8% in the 3rd quarter. Parkside Financial Bank & Trust now owns 2,136 shares of the textile maker's stock valued at $72,000 after purchasing an additional 1,838 shares during the last quarter. Institutional investors and hedge funds own 99.88% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on SHOO. Williams Trading set a $48.00 price objective on shares of Steven Madden in a research report on Tuesday, March 10th. Needham & Company LLC dropped their price target on shares of Steven Madden from $50.00 to $41.00 and set a "buy" rating for the company in a research report on Wednesday, February 25th. BTIG Research reiterated a "buy" rating and issued a $50.00 price target on shares of Steven Madden in a research report on Thursday, February 26th. Jefferies Financial Group downgraded shares of Steven Madden from a "hold" rating to an "underperform" rating and set a $30.00 price target for the company. in a research report on Thursday, February 5th. Finally, Zacks Research raised shares of Steven Madden from a "strong sell" rating to a "hold" rating in a research note on Wednesday, April 8th. Five analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Steven Madden has an average rating of "Hold" and a consensus price target of $44.00.

Insider Activity at Steven Madden

In other Steven Madden news, Director Arian Simone Reed sold 3,600 shares of the stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $33.44, for a total value of $120,384.00. Following the sale, the director directly owned 8,705 shares in the company, valued at $291,095.20. This represents a 29.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 2.22% of the company's stock.

Steven Madden Price Performance

Shares of NASDAQ SHOO opened at $38.55 on Friday. The firm's 50-day moving average price is $35.85 and its 200-day moving average price is $38.74. Steven Madden, Ltd. has a 1-year low of $19.75 and a 1-year high of $46.88. The firm has a market capitalization of $2.82 billion, a P/E ratio of 62.18 and a beta of 1.13. The company has a current ratio of 1.90, a quick ratio of 1.11 and a debt-to-equity ratio of 0.26.

Steven Madden (NASDAQ:SHOO - Get Free Report) last issued its quarterly earnings data on Wednesday, February 25th. The textile maker reported $0.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.46 by $0.02. Steven Madden had a net margin of 1.76% and a return on equity of 13.60%. The business had revenue of $753.70 million during the quarter, compared to the consensus estimate of $758.53 million. During the same period in the prior year, the firm posted $0.55 EPS. The firm's quarterly revenue was up 29.6% compared to the same quarter last year. Equities research analysts anticipate that Steven Madden, Ltd. will post 2.09 earnings per share for the current fiscal year.

Steven Madden Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 20th. Investors of record on Wednesday, March 11th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Wednesday, March 11th. Steven Madden's dividend payout ratio is presently 135.48%.

Steven Madden Profile

Steven Madden, Inc NASDAQ: SHOO is a New York–based designer and marketer of fashion footwear, handbags and accessories. The company's product portfolio spans a range of contemporary and lifestyle brands for women, men and children, including its core Steve Madden label as well as the Madden Girl and Dolce Vita brands. In addition to footwear, the company licenses its trademarks for use on apparel, eyewear and other fashion accessories.

Steven Madden distributes its products through multiple channels, including wholesale partners, e-commerce platforms and its own brick-and-mortar retail stores.

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