CX Institutional Purchases 30,827 Shares of Steven Madden, Ltd. $SHOO

Key Points

• CX Institutional significantly increased its holdings in Steven Madden, buying an additional 30,827 shares, bringing its total to 32,014 shares worth approximately $768,000.
• Steve Madden reported $0.20 earnings per share in its latest quarter, falling short of analysts' expectations of $0.24 and showing a revenue of $556.09 million.
• The company recently declared a quarterly dividend of $0.21, representing a yield of 2.5% with a payout ratio of 66.14%.

CX Institutional grew its holdings in shares of Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 2,597.1% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 32,014 shares of the textile maker's stock after purchasing an additional 30,827 shares during the quarter. CX Institutional's holdings in Steven Madden were worth $768,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Millennium Management LLC purchased a new stake in Steven Madden during the fourth quarter valued at approximately $2,065,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Steven Madden by 12.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 191,667 shares of the textile maker's stock worth $8,150,000 after purchasing an additional 21,270 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Steven Madden by 3,814.9% in the 1st quarter. GAMMA Investing LLC now owns 36,683 shares of the textile maker's stock worth $977,000 after purchasing an additional 35,746 shares in the last quarter. Vest Financial LLC increased its stake in shares of Steven Madden by 41.8% in the 1st quarter. Vest Financial LLC now owns 80,010 shares of the textile maker's stock worth $2,131,000 after purchasing an additional 23,587 shares in the last quarter. Finally, Harbor Capital Advisors Inc. increased its stake in shares of Steven Madden by 62.3% in the 1st quarter. Harbor Capital Advisors Inc. now owns 201,696 shares of the textile maker's stock worth $5,373,000 after purchasing an additional 77,425 shares in the last quarter. Hedge funds and other institutional investors own 99.88% of the company's stock.

Steven Madden Stock Performance

Shares of NASDAQ SHOO opened at $33.76 on Friday. 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 company has a market cap of $2.45 billion, a P/E ratio of 26.58 and a beta of 1.21. The firm's fifty day moving average is $28.49 and its two-hundred day moving average is $25.61. Steven Madden, Ltd. has a 52-week low of $19.05 and a 52-week high of $50.01.

Steven Madden (NASDAQ:SHOO - Get Free Report) last issued its earnings results 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 return on equity of 18.32% and a net margin of 3.92%.The firm had revenue of $556.09 million during the quarter, compared to the consensus estimate of $575.83 million. During the same period last year, the firm posted $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, 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 was paid on Tuesday, September 23rd. Investors of record on Friday, September 12th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.5%. The ex-dividend date was Friday, September 12th. Steven Madden's payout ratio is currently 66.14%.

Wall Street Analyst Weigh In

SHOO has been the subject of a number of analyst reports. Needham & Company LLC restated a "hold" rating on shares of Steven Madden in a research report on Wednesday, July 30th. Citigroup raised shares of Steven Madden from a "neutral" rating to a "buy" rating and increased their target price for the stock from $26.00 to $32.00 in a report on Thursday, July 17th. Piper Sandler raised shares of Steven Madden from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $25.00 to $40.00 in a report on Monday. Wall Street Zen cut shares of Steven Madden from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. Finally, UBS Group increased their price objective 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. Two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $31.80.

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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