Cubist Systematic Strategies LLC Invests $3.48 Million in Steven Madden, Ltd. $SHOO

Key Points

• Cubist Systematic Strategies LLC has taken a new position in Steven Madden, Ltd. by acquiring 130,754 shares valued at approximately $3.48 million, representing 0.18% of the company's stock.
• Steven Madden reported a net margin of 3.92% and earnings per share of $0.20 for the last quarter, which fell short of analysts' expectations of $0.24.
• The company announced a quarterly dividend of $0.21 per share, with an ex-dividend date of September 12, translating to an annualized yield of 2.8%.

Cubist Systematic Strategies LLC acquired a new position in shares of Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 130,754 shares of the textile maker's stock, valued at approximately $3,483,000. Cubist Systematic Strategies LLC owned about 0.18% of Steven Madden as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SHOO. Graham Capital Management L.P. grew its position in shares of Steven Madden by 493.9% during the 1st quarter. Graham Capital Management L.P. now owns 145,627 shares of the textile maker's stock valued at $3,880,000 after acquiring an additional 121,107 shares during the period. Vident Advisory LLC grew its holdings in Steven Madden by 8.6% during the first quarter. Vident Advisory LLC now owns 18,748 shares of the textile maker's stock valued at $499,000 after purchasing an additional 1,481 shares during the period. Trexquant Investment LP grew its holdings in Steven Madden by 71.4% during the first quarter. Trexquant Investment LP now owns 441,103 shares of the textile maker's stock valued at $11,751,000 after purchasing an additional 183,769 shares during the period. Synovus Financial Corp increased its position in Steven Madden by 64.9% in the first quarter. Synovus Financial Corp now owns 20,096 shares of the textile maker's stock worth $535,000 after buying an additional 7,909 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC raised its stake in shares of Steven Madden by 612.4% in the first quarter. Campbell & CO Investment Adviser LLC now owns 106,397 shares of the textile maker's stock valued at $2,834,000 after buying an additional 91,463 shares during the period. 99.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Wall Street Zen cut Steven Madden from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. UBS Group lifted their target price on shares of Steven Madden from $23.00 to $26.00 and gave the stock a "neutral" rating in a research note on Monday, July 28th. Telsey Advisory Group restated a "market perform" rating and set a $26.00 price target (up from $24.00) on shares of Steven Madden in a research note on Wednesday, July 30th. Needham & Company LLC reaffirmed a "hold" rating on shares of Steven Madden in a report on Wednesday, July 30th. Finally, Citigroup upgraded shares of 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 research note on Thursday, July 17th. One equities research analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $28.80.

Steven Madden Price Performance

Shares of SHOO stock traded up $1.29 during trading hours on Thursday, reaching $31.79. The stock had a trading volume of 1,996,400 shares, compared to its average volume of 1,252,176. The stock's fifty day simple moving average is $26.95 and its 200 day simple moving average is $25.50. The firm has a market capitalization of $2.31 billion, a PE ratio of 25.03 and a beta of 1.21. Steven Madden, Ltd. has a 12 month low of $19.05 and a 12 month high of $50.01. 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 (NASDAQ:SHOO - Get Free Report) last posted its 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 last year, the company posted $0.57 EPS. The business's revenue was up 6.8% on a year-over-year basis. On average, equities research analysts predict that Steven Madden, Ltd. will post 2.66 EPS for the current year.

Steven Madden Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 23rd. Investors 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 yield of 2.6%. Steven Madden's dividend payout ratio (DPR) is currently 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.