Jefferies Financial Group Inc. Purchases New Stake in Steven Madden, Ltd. (NASDAQ:SHOO)

Key Points

• Jefferies Financial Group Inc. has acquired 11,389 shares of Steven Madden, Ltd., valued at approximately $303,000, marking its first position in the company.
• Other institutional investors, including Pictet Asset Management and Deutsche Bank AG, have also increased their holdings in Steven Madden, contributing to a total institutional ownership of 99.88%.
• Steven Madden recently announced a quarterly dividend of $0.21 per share, with a current dividend yield of 3.3% and a payout ratio of 66.14%.

Jefferies Financial Group Inc. acquired a new position in Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 11,389 shares of the textile maker's stock, valued at approximately $303,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CX Institutional purchased a new position in Steven Madden during the 1st quarter worth $32,000. Quarry LP grew its stake in Steven Madden by 403.6% during the 4th quarter. Quarry LP now owns 1,385 shares of the textile maker's stock worth $59,000 after buying an additional 1,110 shares during the last quarter. CWM LLC grew its stake in Steven Madden by 231.0% during the 1st quarter. CWM LLC now owns 2,277 shares of the textile maker's stock worth $61,000 after buying an additional 1,589 shares during the last quarter. Mariner LLC grew its stake in 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 buying an additional 319 shares during the last quarter. Finally, PharVision Advisers LLC purchased a new position in Steven Madden during the 4th quarter worth $226,000. 99.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SHOO. Citigroup upgraded Steven Madden from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $26.00 to $32.00 in a research note on Thursday, July 17th. Needham & Company LLC restated a "hold" rating on shares of Steven Madden in a research note on Wednesday, July 30th. Telsey Advisory Group reiterated a "market perform" rating and set a $26.00 price target (up previously from $24.00) on shares of Steven Madden in a research note on Wednesday, July 30th. Finally, UBS Group raised their price objective on Steven Madden from $23.00 to $26.00 and gave the stock a "neutral" rating in a research note on Monday, July 28th. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $28.80.

Steven Madden Stock Performance

Shares of NASDAQ SHOO traded down $0.21 during trading on Friday, reaching $25.44. 1,754,915 shares of the company traded hands, compared to its average volume of 1,786,298. The stock has a market cap of $1.85 billion, a P/E ratio of 20.03 and a beta of 1.16. The firm's fifty day simple moving average is $25.00 and its 200 day simple moving average is $27.22. The company has a current ratio of 2.01, a quick ratio of 1.13 and a debt-to-equity ratio of 0.33. Steven Madden, Ltd. has a 12-month low of $19.05 and a 12-month high of $50.01.

Steven Madden (NASDAQ:SHOO - Get Free Report) last issued its quarterly earnings data 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). 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 quarterly revenue was up 6.8% compared to the same quarter last year. During the same period last year, the firm earned $0.57 EPS. As a group, research analysts anticipate that Steven Madden, Ltd. will post 2.66 earnings per share for the current fiscal year.

Steven Madden Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 23rd. Stockholders of record on Friday, September 12th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Friday, September 12th. Steven Madden's payout ratio is 66.14%.

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.