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

Several other hedge funds and other institutional investors also recently modified their holdings of SHOO. Nuveen LLC purchased a new position in shares of Steven Madden in the 1st quarter valued at approximately $23,334,000. Millennium Management LLC boosted its position in Steven Madden by 1,170.4% during the first quarter. Millennium Management LLC now owns 617,049 shares of the textile maker's stock worth $16,438,000 after purchasing an additional 568,477 shares in the last quarter. Federated Hermes Inc. boosted its position in Steven Madden by 270,516.2% during the first quarter. Federated Hermes Inc. now owns 533,114 shares of the textile maker's stock worth $14,202,000 after purchasing an additional 532,917 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Steven Madden by 46.5% in the first quarter. Victory Capital Management Inc. now owns 1,212,373 shares of the textile maker's stock worth $32,298,000 after acquiring an additional 384,979 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Steven Madden by 29.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,455,381 shares of the textile maker's stock worth $39,907,000 after acquiring an additional 332,689 shares during the last quarter. 99.88% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Telsey Advisory Group reiterated a "market perform" rating and issued a $26.00 target price (up from $24.00) on shares of Steven Madden in a research note on Wednesday, July 30th. 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. UBS Group increased their price target on Steven Madden from $23.00 to $26.00 and gave the company a "neutral" rating in a report on Monday, July 28th. Finally, 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. One equities research analyst has rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $28.80.

Steven Madden Stock Performance

Shares of NASDAQ SHOO opened at $30.50 on Tuesday. The stock has a fifty day moving average price of $26.64 and a two-hundred day moving average price of $25.48. 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 firm has a market cap of $2.22 billion, a P/E ratio of 24.02 and a beta of 1.21. Steven Madden, Ltd. has a 1 year low of $19.05 and a 1 year high of $50.01.

Steven Madden (NASDAQ:SHOO - Get Free Report) last issued 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). The firm had revenue of $556.09 million for 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 for the quarter was up 6.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.57 earnings per share. Research analysts forecast that Steven Madden, Ltd. will post 2.66 EPS for the current fiscal year.

Steven Madden Announces Dividend

The business 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 dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, September 12th. This represents a $0.84 annualized dividend and a dividend yield of 2.8%. Steven Madden's dividend payout ratio (DPR) is currently 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.

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