Citigroup Inc. Has $9.49 Million Stock Holdings in Steven Madden, Ltd. $SHOO

Key Points

• Citigroup Inc. increased its stake in Steven Madden, Ltd. by 243.7% in the first quarter, acquiring 252,592 additional shares, bringing its total holdings to 356,257 shares valued at approximately $9.49 million.
• Steven Madden reported a net margin of 3.92% and earnings per share (EPS) of $0.20 for the last quarter, falling short of analysts' expectations.
• The company declared a quarterly dividend of $0.21 per share, resulting in an annualized yield of 3.1%, with the ex-dividend date set for September 12th.

Citigroup Inc. increased its holdings in Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 243.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 356,257 shares of the textile maker's stock after purchasing an additional 252,592 shares during the period. Citigroup Inc. owned approximately 0.49% of Steven Madden worth $9,491,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of 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 in the last quarter. First Trust Advisors LP increased its holdings in shares of 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 valued at $85,135,000 after purchasing an additional 539,738 shares in the last quarter. Allspring Global Investments Holdings LLC increased 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 valued at $39,907,000 after purchasing an additional 332,689 shares in the last quarter. Victory Capital Management Inc. increased 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 valued at $32,298,000 after purchasing an additional 384,979 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Steven Madden by 9.7% in the fourth quarter. Northern Trust Corp now owns 810,263 shares of the textile maker's stock valued at $34,452,000 after purchasing an additional 71,816 shares in the last quarter. Institutional investors and hedge funds own 99.88% of the company's stock.

Wall Street Analyst Weigh In

SHOO has been the subject of a number of research reports. Wall Street Zen lowered shares of Steven Madden from a "hold" rating to a "sell" rating in a report on Saturday. Citigroup raised shares of Steven Madden from a "neutral" rating to a "buy" rating and raised their price target 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 issued a $26.00 price target (up previously from $24.00) on shares of Steven Madden in a report on Wednesday, July 30th. Needham & Company LLC reissued a "hold" rating on shares of Steven Madden in a report on Wednesday, July 30th. Finally, UBS Group raised their price objective on shares of Steven Madden from $23.00 to $26.00 and gave the company a "neutral" rating in a research note on Monday, July 28th. One analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $28.80.

Steven Madden Trading Down 0.8%

Shares of NASDAQ SHOO traded down $0.2250 during midday trading on Wednesday, reaching $26.8150. 440,949 shares of the stock were exchanged, compared to its average volume of 1,561,370. The business has a 50-day simple moving average of $25.21 and a two-hundred day simple moving average of $26.49. The company has a market capitalization of $1.95 billion, a price-to-earnings ratio of 21.11 and a beta of 1.16. Steven Madden, Ltd. has a 12 month low of $19.05 and a 12 month high of $50.01. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.01 and a quick ratio of 1.13.

Steven Madden (NASDAQ:SHOO - Get Free Report) last announced its quarterly earnings results 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 return on equity of 18.32% and a net margin of 3.92%.The firm had revenue of $556.09 million for the quarter, compared to the consensus estimate of $575.83 million. During the same period in the prior year, the business earned $0.57 earnings per share. The company's revenue for the quarter was up 6.8% compared to the same quarter last year. As a group, equities research analysts expect that Steven Madden, Ltd. will post 2.66 EPS for the current year.

Steven Madden Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders of record on Friday, September 12th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.1%. The ex-dividend date is Friday, September 12th. 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.