Steven Madden, Ltd. $SHOO Stake Lifted by Hotchkis & Wiley Capital Management LLC

Key Points

• Hotchkis & Wiley Capital Management LLC increased its stake in Steven Madden, Ltd. by 7.8%, acquiring an additional 18,024 shares, bringing its total ownership to 248,284 shares valued at approximately $6.6 million.
• Several analysts have revised their ratings and price targets for Steven Madden, with Citigroup upgrading the stock to a "buy" and raising its target from $26.00 to $32.00.
• Steven Madden announced a quarterly dividend of $0.21 per share, which reflects an annualized yield of 3.0%, scheduled to be paid on September 23rd.

Hotchkis & Wiley Capital Management LLC increased its stake in shares of Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 7.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 248,284 shares of the textile maker's stock after buying an additional 18,024 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned about 0.34% of Steven Madden worth $6,614,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in SHOO. Envestnet Asset Management Inc. lifted its position in Steven Madden by 3.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 22,198 shares of the textile maker's stock valued at $944,000 after purchasing an additional 804 shares during the period. Mariner LLC lifted its position in Steven Madden by 7.2% in the fourth quarter. Mariner LLC now owns 4,740 shares of the textile maker's stock valued at $202,000 after purchasing an additional 319 shares during the period. MetLife Investment Management LLC lifted its position in Steven Madden by 4.4% in the fourth quarter. MetLife Investment Management LLC now owns 43,671 shares of the textile maker's stock valued at $1,857,000 after purchasing an additional 1,833 shares during the period. State of Tennessee Department of Treasury lifted its position in Steven Madden by 21.2% in the fourth quarter. State of Tennessee Department of Treasury now owns 50,471 shares of the textile maker's stock valued at $2,146,000 after purchasing an additional 8,824 shares during the period. Finally, Hsbc Holdings PLC lifted its position in Steven Madden by 105.3% in the fourth quarter. Hsbc Holdings PLC now owns 21,690 shares of the textile maker's stock valued at $925,000 after purchasing an additional 11,126 shares during the period. Institutional investors and hedge funds own 99.88% of the company's stock.

Steven Madden Stock Down 0.5%

SHOO stock traded down $0.14 during trading on Friday, reaching $29.04. The stock had a trading volume of 1,101,589 shares, compared to its average volume of 1,556,406. Steven Madden, Ltd. has a 1-year low of $19.05 and a 1-year 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. The company has a market capitalization of $2.11 billion, a P/E ratio of 22.87 and a beta of 1.16. The firm has a fifty day moving average price of $25.83 and a 200 day moving average price of $26.11.

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 analysts' consensus estimates of $0.24 by ($0.04). The company had revenue of $556.09 million during the quarter, compared to analyst estimates of $575.83 million. Steven Madden had a net margin of 3.92% and a return on equity of 18.32%. The business's revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter last year, the company 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 company also recently announced a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders of record on Friday, September 12th will be given a $0.21 dividend. The ex-dividend date is Friday, September 12th. This represents a $0.84 annualized dividend and a yield of 2.9%. Steven Madden's dividend payout ratio is 66.14%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on SHOO. Citigroup upgraded shares of Steven Madden from a "neutral" rating to a "buy" rating and lifted their price target for the company from $26.00 to $32.00 in a research report on Thursday, July 17th. Telsey Advisory Group reiterated a "market perform" rating and set a $26.00 price target (up from $24.00) on shares of Steven Madden in a research report on Wednesday, July 30th. UBS Group lifted their price target on shares of Steven Madden from $23.00 to $26.00 and gave the company a "neutral" rating in a research report on Monday, July 28th. Needham & Company LLC reiterated a "hold" rating on shares of Steven Madden in a research report on Wednesday, July 30th. Finally, Wall Street Zen downgraded shares of Steven Madden from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. One research analyst has rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target 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.