Charles Schwab Investment Management Inc. Sells 26,059 Shares of Steven Madden, Ltd. $SHOO

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

Several other hedge funds and other institutional investors have also modified their holdings of SHOO. Mariner LLC lifted its position in Steven Madden by 7.2% in the fourth quarter. Mariner LLC now owns 4,740 shares of the textile maker's stock worth $202,000 after purchasing an additional 319 shares during the period. Tidal Investments LLC lifted its position in Steven Madden by 2.4% in the fourth quarter. Tidal Investments LLC now owns 17,784 shares of the textile maker's stock worth $756,000 after purchasing an additional 409 shares during the period. Bank of Montreal Can lifted its position in Steven Madden by 5.5% in the fourth quarter. Bank of Montreal Can now owns 10,660 shares of the textile maker's stock worth $453,000 after purchasing an additional 554 shares during the period. Vident Advisory LLC lifted 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 period. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of Steven Madden by 3.8% during the fourth quarter. Envestnet Asset Management Inc. now owns 22,198 shares of the textile maker's stock valued at $944,000 after acquiring an additional 804 shares during the period. Institutional investors and hedge funds own 99.88% of the company's stock.

Steven Madden Price Performance

Shares of Steven Madden stock traded up $1.40 during trading on Friday, reaching $28.53. The company's stock had a trading volume of 1,449,878 shares, compared to its average volume of 1,807,009. The stock has a 50-day moving average price of $25.42 and a two-hundred day moving average price of $26.36. The company has a current ratio of 2.01, a quick ratio of 1.13 and a debt-to-equity ratio of 0.33. Steven Madden, Ltd. has a one year low of $19.05 and a one year high of $50.01. The stock has a market capitalization of $2.07 billion, a P/E ratio of 22.46 and a beta of 1.16.

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 during the quarter, compared to the consensus estimate of $575.83 million. During the same period in the prior year, the firm earned $0.57 earnings per share. The business's quarterly revenue was up 6.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Steven Madden, Ltd. will post 2.66 EPS for the current fiscal year.

Steven Madden Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts have issued reports on SHOO shares. 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 lifted their price objective for the company from $26.00 to $32.00 in a report on Thursday, July 17th. Telsey Advisory Group reissued a "market perform" rating and set a $26.00 price objective (up from $24.00) on shares of Steven Madden in a report on Wednesday, July 30th. UBS Group lifted their price objective on Steven Madden from $23.00 to $26.00 and gave the company a "neutral" rating in a report on Monday, July 28th. Finally, Needham & Company LLC reissued 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 stock. According to MarketBeat.com, Steven Madden presently has an average rating of "Hold" and a consensus 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.