Caxton Associates LLP Invests $2.07 Million in Steven Madden, Ltd. $SHOO

Key Points

• Caxton Associates LLP has invested approximately $2.07 million in Steven Madden, acquiring 77,810 shares, which amounts to about 0.11% ownership of the company.
• Several institutional investors have significantly increased their stakes in Steven Madden, with Federated Hermes Inc. boosting its position by over 270,000% in the first quarter.
• The company reported a quarterly EPS of $0.20, missing analysts' expectations, and announced an upcoming dividend of $0.21 per share, reflecting a 2.8% annual yield.

Caxton Associates LLP acquired a new stake in Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 77,810 shares of the textile maker's stock, valued at approximately $2,073,000. Caxton Associates LLP owned 0.11% of Steven Madden as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Tidal Investments LLC lifted its holdings in shares of Steven Madden by 2.4% in the 4th quarter. Tidal Investments LLC now owns 17,784 shares of the textile maker's stock valued at $756,000 after buying an additional 409 shares during the period. Vident Advisory LLC raised its holdings in shares of Steven Madden by 4.6% during the fourth quarter. Vident Advisory LLC now owns 17,267 shares of the textile maker's stock valued at $734,000 after acquiring an additional 756 shares during the last quarter. Covestor Ltd raised its holdings in shares of 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 acquiring an additional 915 shares during the last quarter. HighTower Advisors LLC raised its holdings in shares of Steven Madden by 17.5% during the first quarter. HighTower Advisors LLC now owns 7,567 shares of the textile maker's stock valued at $202,000 after acquiring an additional 1,128 shares during the last quarter. Finally, CX Institutional acquired a new position in shares of Steven Madden during the first quarter valued at approximately $32,000. Institutional investors and hedge funds own 99.88% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. UBS Group increased their target price on Steven Madden from $23.00 to $26.00 and gave the company a "neutral" rating in a report on Monday, July 28th. 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 report on Wednesday, July 30th. Wall Street Zen cut Steven Madden from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. Citigroup raised Steven Madden from a "neutral" rating to a "buy" rating and increased their price target for the company from $26.00 to $32.00 in a report on Thursday, July 17th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Steven Madden in a report on Wednesday, July 30th. One equities research analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $28.80.

Steven Madden Trading Down 2.0%

Shares of SHOO traded down $0.64 during midday trading on Friday, hitting $31.15. 1,944,758 shares of the stock were exchanged, compared to its average volume of 1,326,429. Steven Madden, Ltd. has a 52-week low of $19.05 and a 52-week high of $50.01. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.13 and a current ratio of 2.01. The stock has a fifty day simple moving average of $27.05 and a 200 day simple moving average of $25.33. The firm has a market cap of $2.26 billion, a P/E ratio of 24.53 and a beta of 1.21.

Steven Madden (NASDAQ:SHOO - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The textile maker reported $0.20 earnings per share 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 analyst estimates of $575.83 million. During the same period in the previous year, the firm posted $0.57 earnings per share. The company's quarterly revenue was up 6.8% compared to the same quarter last year. On average, research analysts anticipate that Steven Madden, Ltd. will post 2.66 EPS for the current fiscal year.

Steven Madden Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 23rd. Stockholders of record on Friday, September 12th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Friday, September 12th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.7%. Steven Madden's payout ratio is presently 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.