Steven Madden, Ltd. $SHOO Stake Cut by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. has reduced its holdings in Steven Madden, Ltd. by 2.3%, owning approximately 1,096,621 shares worth $29.21 million after selling 26,059 shares in the first quarter.
• Steven Madden recently reported a quarterly EPS of $0.20, missing analysts' estimates, while its revenue of $556.09 million also fell short of the consensus estimate.
• The company declared a quarterly dividend of $0.21, giving it an annualized yield of 3.1%, with a dividend payout ratio of 66.14%.

Charles Schwab Investment Management Inc. lessened its stake in shares of Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 2.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,096,621 shares of the textile maker's stock after selling 26,059 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.51% of Steven Madden worth $29,214,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Steven Madden by 2.7% during the first quarter. Vanguard Group Inc. now owns 8,316,124 shares of the textile maker's stock worth $221,542,000 after buying an additional 218,785 shares during the period. First Trust Advisors LP lifted its stake in Steven Madden by 36.9% in the fourth quarter. First Trust Advisors LP now owns 2,002,228 shares of the textile maker's stock worth $85,135,000 after acquiring an additional 539,738 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Steven Madden by 29.6% during 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 purchasing an additional 332,689 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Steven Madden by 46.5% during the first quarter. Victory Capital Management Inc. now owns 1,212,373 shares of the textile maker's stock worth $32,298,000 after purchasing an additional 384,979 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in Steven Madden by 9.7% during the fourth quarter. Northern Trust Corp now owns 810,263 shares of the textile maker's stock worth $34,452,000 after purchasing an additional 71,816 shares in the last quarter. Hedge funds and other institutional investors own 99.88% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SHOO. Needham & Company LLC reaffirmed a "hold" rating on shares of Steven Madden in a report on Wednesday, July 30th. Wall Street Zen cut shares of Steven Madden from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. 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 research report on Monday, July 28th. Citigroup upgraded 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 research report on Thursday, July 17th. Finally, Telsey Advisory Group reiterated 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. One equities research analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, Steven Madden has an average rating of "Hold" and a consensus price target of $28.80.

Steven Madden Trading Down 1.8%

SHOO traded down $0.50 on Monday, reaching $28.03. 1,173,535 shares of the company's stock were exchanged, compared to its average volume of 1,825,735. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.13 and a current ratio of 2.01. Steven Madden, Ltd. has a twelve month low of $19.05 and a twelve month high of $50.01. The company's 50 day moving average is $25.49 and its 200-day moving average is $26.13. The company has a market cap of $2.04 billion, a price-to-earnings ratio of 22.07 and a beta of 1.16.

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 (EPS) for the quarter, missing the consensus estimate 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 last year, the business earned $0.57 EPS. The firm's revenue was up 6.8% compared to the same quarter last year. Equities analysts predict that Steven Madden, Ltd. will post 2.66 earnings per share for the current year.

Steven Madden Dividend Announcement

The firm also recently announced 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. This represents a $0.84 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Friday, September 12th. Steven Madden's dividend payout ratio is 66.14%.

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.