Fox Run Management L.L.C. Has $246,000 Holdings in Steven Madden, Ltd. $SHOO

Key Points

• Fox Run Management L.L.C. has reduced its stake in Steven Madden, Ltd. by 54.6%, now holding 9,216 shares valued at approximately $246,000.
• Steven Madden's recent quarterly earnings reported an EPS of $0.20, missing estimates of $0.24, while revenue reached $556.09 million, below the expected $575.83 million.
• The company has announced a quarterly dividend of $0.21, with a payout ratio of 66.14% and an annualized yield of 3.2%.

Fox Run Management L.L.C. reduced its holdings in Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 54.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,216 shares of the textile maker's stock after selling 11,074 shares during the quarter. Fox Run Management L.L.C.'s holdings in Steven Madden were worth $246,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. 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 purchasing an additional 218,785 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Steven Madden by 29.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,455,381 shares of the textile maker's stock worth $39,907,000 after purchasing an additional 332,689 shares in the last quarter. Victory Capital Management Inc. increased its position 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 worth $32,298,000 after acquiring an additional 384,979 shares in the last quarter. Nuveen LLC purchased a new position in shares of Steven Madden in the first quarter worth approximately $23,334,000. Finally, Northern Trust Corp increased its position 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 worth $34,452,000 after acquiring an additional 71,816 shares in the last quarter. 99.88% of the stock is currently owned by institutional investors.

Steven Madden Stock Up 5.2%

Shares of SHOO traded up $1.40 during mid-day trading on Friday, hitting $28.53. 1,449,878 shares of the company's stock were exchanged, compared to its average volume of 1,807,009. The firm has a fifty day moving average of $25.42 and a two-hundred day moving average of $26.28. Steven Madden, Ltd. has a twelve month low of $19.05 and a twelve month high of $50.01. The stock has a market cap of $2.07 billion, a price-to-earnings ratio of 22.46 and a beta of 1.16. The company has a quick ratio of 1.13, a current ratio of 2.01 and a debt-to-equity ratio of 0.33.

Steven Madden (NASDAQ:SHOO - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The textile maker reported $0.20 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 business had revenue of $556.09 million for the quarter, compared to analyst estimates of $575.83 million. During the same quarter last year, the company earned $0.57 EPS. The business's revenue for the quarter was up 6.8% compared to the same quarter last year. On average, sell-side analysts forecast that Steven Madden, Ltd. will post 2.66 earnings per share for the current year.

Steven Madden Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on SHOO shares. 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 report on Monday, July 28th. Wall Street Zen downgraded shares of Steven Madden from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. Citigroup raised shares of Steven Madden from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $26.00 to $32.00 in a research report on Thursday, July 17th. Telsey Advisory Group reissued a "market perform" rating and issued a $26.00 target price (up from $24.00) on shares of Steven Madden in a research report on Wednesday, July 30th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Steven Madden in a research report on Wednesday, July 30th. One analyst has rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $28.80.

Steven Madden Company 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.