Perbak Capital Partners LLP Makes New Investment in Steven Madden, Ltd. $SHOO

Key Points

• Perbak Capital Partners LLP made a new investment of $309,000 in Steven Madden, acquiring 11,602 shares in the 1st quarter.
• Steven Madden reported a quarterly earnings miss with an EPS of $0.20, falling short of the $0.24 consensus estimate.
• The company announced a quarterly dividend of $0.21 per share, with a payout ratio of 66.14% and a dividend yield of 2.9%.

Perbak Capital Partners LLP purchased a new position in Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 11,602 shares of the textile maker's stock, valued at approximately $309,000.

Several other hedge funds also recently added to or reduced their stakes in SHOO. CX Institutional acquired a new position in Steven Madden during the 1st quarter valued at about $32,000. Caitong International Asset Management Co. Ltd increased its position in Steven Madden by 328.8% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 2,161 shares of the textile maker's stock valued at $58,000 after buying an additional 1,657 shares in the last quarter. CWM LLC increased its position in Steven Madden by 231.0% during the 1st quarter. CWM LLC now owns 2,277 shares of the textile maker's stock valued at $61,000 after buying an additional 1,589 shares in the last quarter. Covestor Ltd increased its position in Steven Madden by 22.9% during the 1st quarter. Covestor Ltd now owns 4,906 shares of the textile maker's stock valued at $130,000 after buying an additional 915 shares in the last quarter. Finally, Gagnon Securities LLC acquired a new position in Steven Madden during the 1st quarter valued at about $140,000. 99.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Wall Street Zen lowered Steven Madden from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. 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. Needham & Company LLC reiterated a "hold" rating on shares of Steven Madden in a research note on Wednesday, July 30th. UBS Group boosted their price target on Steven Madden from $23.00 to $26.00 and gave the company a "neutral" rating in a research note on Monday, July 28th. Finally, Citigroup upgraded Steven Madden from a "neutral" rating to a "buy" rating and boosted their price target for the company from $26.00 to $32.00 in a research note on Thursday, July 17th. One research analyst has rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, Steven Madden has a consensus rating of "Hold" and an average target price of $28.80.

Steven Madden Stock Performance

Shares of SHOO traded up $0.20 during mid-day trading on Friday, reaching $30.32. The company had a trading volume of 1,442,188 shares, compared to its average volume of 1,310,537. Steven Madden, Ltd. has a 52-week low of $19.05 and a 52-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 stock has a market capitalization of $2.20 billion, a P/E ratio of 23.87 and a beta of 1.21. The stock has a 50 day moving average of $26.51 and a two-hundred day moving average of $25.72.

Steven Madden (NASDAQ:SHOO - Get Free Report) last issued its earnings results on Wednesday, July 30th. The textile maker reported $0.20 EPS for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $575.83 million. During the same quarter in the previous year, the company earned $0.57 EPS. The firm's quarterly revenue was up 6.8% compared to the same quarter last year. On average, analysts expect that Steven Madden, Ltd. will post 2.66 earnings per share for the current year.

Steven Madden Dividend Announcement

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