Campbell & CO Investment Adviser LLC Purchases 91,463 Shares of Steven Madden, Ltd. $SHOO

Key Points

• Campbell & CO Investment Adviser LLC increased its stake in Steven Madden, Ltd. by 612.4%, acquiring an additional 91,463 shares, bringing its total ownership to 106,397 shares valued at approximately $2.83 million.
• Steven Madden reported a net margin of 3.92% and earnings per share of $0.20 for the last quarter, missing analyst estimates of $0.24, despite a year-over-year revenue increase of 6.8%.
• The company announced a quarterly dividend of $0.21 per share, amounting to an annualized dividend of $0.84 and a yield of 2.9%, with a payout ratio of 66.14%.

Campbell & CO Investment Adviser LLC lifted its stake in Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 612.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 106,397 shares of the textile maker's stock after acquiring an additional 91,463 shares during the quarter. Campbell & CO Investment Adviser LLC owned 0.15% of Steven Madden worth $2,834,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. CX Institutional bought a new stake in Steven Madden during the first quarter valued at approximately $32,000. Quarry LP grew its position in Steven Madden by 403.6% during the fourth quarter. Quarry LP now owns 1,385 shares of the textile maker's stock valued at $59,000 after buying an additional 1,110 shares during the period. 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. 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, Mariner LLC grew its position in Steven Madden by 7.2% during the fourth quarter. Mariner LLC now owns 4,740 shares of the textile maker's stock valued at $202,000 after buying an additional 319 shares during the period. 99.88% of the stock is currently owned by institutional investors.

Steven Madden Price Performance

Steven Madden stock traded down $0.12 during mid-day trading on Friday, reaching $29.07. 785,722 shares of the company's stock traded hands, compared to its average volume of 1,553,519. The company has a market cap of $2.11 billion, a price-to-earnings ratio of 22.89 and a beta of 1.16. The stock has a 50 day moving average of $25.83 and a two-hundred day moving average of $26.11. 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 12-month low of $19.05 and a 12-month high of $50.01.

Steven Madden (NASDAQ:SHOO - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The textile maker reported $0.20 earnings per share (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 business had revenue of $556.09 million for the quarter, compared to analysts' expectations of $575.83 million. During the same period in the previous year, the company earned $0.57 EPS. Steven Madden's revenue for the quarter was up 6.8% compared to the same quarter last year. Equities analysts forecast that Steven Madden, Ltd. will post 2.66 earnings per share for the current year.

Steven Madden Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 23rd. Stockholders of record on Friday, September 12th will be issued a $0.21 dividend. The ex-dividend date is Friday, September 12th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.9%. Steven Madden's dividend payout ratio is presently 66.14%.

Analysts Set New Price Targets

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

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.