Graham Capital Management L.P. Acquires 121,107 Shares of Steven Madden, Ltd. $SHOO

Key Points

• Graham Capital Management L.P. increased its stake in Steven Madden, Ltd. by 493.9% during the first quarter, owning approximately 0.20% of the company valued at $3.88 million.
• Steven Madden recently announced a quarterly dividend of $0.21 per share, representing a yield of 2.9%, with the ex-dividend date set for September 12th.
• Despite a year-over-year revenue increase of 6.8%, Steven Madden reported earnings per share of $0.20, falling short of consensus estimates by $0.04.

Graham Capital Management L.P. boosted its stake in Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 493.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 145,627 shares of the textile maker's stock after purchasing an additional 121,107 shares during the period. Graham Capital Management L.P. owned about 0.20% of Steven Madden worth $3,880,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of SHOO. Mariner LLC boosted its position in shares of Steven Madden by 7.2% during the 4th quarter. Mariner LLC now owns 4,740 shares of the textile maker's stock worth $202,000 after purchasing an additional 319 shares in the last quarter. Tidal Investments LLC boosted its position in shares of Steven Madden by 2.4% during the 4th quarter. Tidal Investments LLC now owns 17,784 shares of the textile maker's stock worth $756,000 after purchasing an additional 409 shares in the last quarter. Vident Advisory LLC boosted its position in shares of Steven Madden by 4.6% during the 4th quarter. Vident Advisory LLC now owns 17,267 shares of the textile maker's stock worth $734,000 after purchasing an additional 756 shares in the last quarter. Covestor Ltd boosted its position in shares of Steven Madden by 22.9% during the 1st quarter. Covestor Ltd now owns 4,906 shares of the textile maker's stock worth $130,000 after purchasing an additional 915 shares in the last quarter. Finally, HighTower Advisors LLC boosted its position in shares of Steven Madden by 17.5% during the 1st quarter. HighTower Advisors LLC now owns 7,567 shares of the textile maker's stock worth $202,000 after purchasing an additional 1,128 shares in the last quarter. 99.88% of the stock is currently owned by institutional investors and hedge funds.

Steven Madden Stock Performance

Shares of NASDAQ SHOO traded up $1.01 during midday trading on Thursday, reaching $30.12. The company's stock had a trading volume of 1,667,762 shares, compared to its average volume of 1,553,210. The firm has a 50 day moving average price of $26.27 and a 200-day moving average price of $25.85. 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, Ltd. has a 12-month low of $19.05 and a 12-month high of $50.01. The stock has a market capitalization of $2.19 billion, a P/E ratio of 23.72 and a beta of 1.21.

Steven Madden (NASDAQ:SHOO - Get Free Report) last issued its quarterly 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 company had revenue of $556.09 million for the quarter, compared to analysts' expectations of $575.83 million. During the same quarter in the previous year, the business earned $0.57 EPS. The company's revenue for the quarter was up 6.8% on a year-over-year basis. As a group, equities analysts predict that Steven Madden, Ltd. will post 2.66 earnings per share for the current year.

Steven Madden Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 23rd. Stockholders of record on Friday, September 12th will be paid a dividend of $0.21 per share. The ex-dividend date is Friday, September 12th. This represents a $0.84 annualized dividend and a dividend yield of 2.8%. Steven Madden's dividend payout ratio (DPR) is presently 66.14%.

Analyst Upgrades and Downgrades

SHOO has been the topic of a number of research analyst reports. 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 report on Monday, July 28th. Telsey Advisory Group reissued a "market perform" rating and set a $26.00 price objective (up previously from $24.00) on shares of Steven Madden in a research report on Wednesday, July 30th. Needham & Company LLC reissued a "hold" rating on shares of Steven Madden in a research report on Wednesday, July 30th. Wall Street Zen cut shares of Steven Madden from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. Finally, 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 research report on Thursday, July 17th. One research analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, Steven Madden 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.