14,420 Shares in Steven Madden, Ltd. $SHOO Purchased by Dynamic Technology Lab Private Ltd

Key Points

• Dynamic Technology Lab Private Ltd has acquired a stake in Steven Madden, Ltd., purchasing 14,420 shares valued at approximately $384,000.
• Multiple large investors have increased their holdings in Steven Madden during the first quarter, with institutional investors now owning 99.88% of the company's stock.
• Steven Madden announced a quarterly dividend of $0.21 per share, reflecting an annual yield of 2.6% and a payout ratio of 66.14%.

Dynamic Technology Lab Private Ltd bought a new position in Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 14,420 shares of the textile maker's stock, valued at approximately $384,000.

A number of other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Steven Madden by 2.7% in the 1st 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. Wellington Management Group LLP increased its holdings in Steven Madden by 1.8% during the 1st quarter. Wellington Management Group LLP now owns 4,802,603 shares of the textile maker's stock valued at $127,941,000 after purchasing an additional 84,570 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in Steven Madden by 4.5% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 2,452,407 shares of the textile maker's stock valued at $65,333,000 after purchasing an additional 106,028 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Steven Madden by 29.6% during the 1st 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. Finally, Victory Capital Management Inc. increased its holdings in Steven Madden by 46.5% during the 1st 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. 99.88% of the stock is owned by institutional investors and hedge funds.

Steven Madden Trading Up 1.4%

Steven Madden stock traded up $0.44 during mid-day trading on Wednesday, hitting $31.97. 167,306 shares of the company's stock were exchanged, compared to its average volume of 1,547,338. The firm has a market capitalization of $2.32 billion, a P/E ratio of 25.19 and a beta of 1.21. Steven Madden, Ltd. has a fifty-two week low of $19.05 and a fifty-two week high of $50.01. The company has a quick ratio of 1.13, a current ratio of 2.01 and a debt-to-equity ratio of 0.33. The company's 50 day simple moving average is $27.30 and its 200-day simple moving average is $25.36.

Steven Madden (NASDAQ:SHOO - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The textile maker reported $0.20 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.04). The business had revenue of $556.09 million for the quarter, compared to analyst estimates of $575.83 million. Steven Madden had a return on equity of 18.32% and a net margin of 3.92%.The business's quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.57 EPS. On average, equities analysts anticipate that Steven Madden, Ltd. will post 2.66 earnings per share for the current year.

Steven Madden Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 23rd. Investors of record on Friday, September 12th will be given a $0.21 dividend. The ex-dividend date of this dividend is Friday, September 12th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.6%. Steven Madden's payout ratio is currently 66.14%.

Wall Street Analysts Forecast Growth

SHOO has been the subject of a number of recent analyst reports. Citigroup raised 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 reaffirmed a "market perform" rating and set a $26.00 price target (up from $24.00) on shares of Steven Madden in a report on Wednesday, July 30th. Needham & Company LLC reiterated a "hold" rating on shares of Steven Madden in a research report on Wednesday, July 30th. Wall Street Zen lowered Steven Madden from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. Finally, UBS Group raised their price target on Steven Madden from $23.00 to $26.00 and gave the stock a "neutral" rating in a research report on Monday, July 28th. One equities research analyst has rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company 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.