Punch & Associates Investment Management Inc. raised its holdings in shares of Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 67.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 327,422 shares of the textile maker's stock after purchasing an additional 132,282 shares during the quarter. Punch & Associates Investment Management Inc. owned 0.45% of Steven Madden worth $8,723,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of SHOO. CX Institutional bought a new stake in Steven Madden during the 1st quarter valued at $32,000. Caitong International Asset Management Co. Ltd boosted its holdings 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 worth $58,000 after acquiring an additional 1,657 shares during the last quarter. CWM LLC boosted its holdings 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 acquiring an additional 1,589 shares during the last quarter. Covestor Ltd boosted its holdings in 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 acquiring an additional 915 shares during the last quarter. Finally, Gagnon Securities LLC purchased a new position in Steven Madden during the 1st quarter worth $140,000. Institutional investors own 99.88% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on SHOO shares. Needham & Company LLC reaffirmed a "hold" rating on shares of Steven Madden in a report on Wednesday, July 30th. Telsey Advisory Group reaffirmed a "market perform" rating and set a $26.00 price objective (up from $24.00) on shares of Steven Madden in a report on Wednesday, July 30th. Wall Street Zen downgraded shares of Steven Madden from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. Citigroup upgraded Steven Madden from a "neutral" rating to a "buy" rating and upped their price objective for the company from $26.00 to $32.00 in a research note on Thursday, July 17th. Finally, UBS Group upped their price objective on Steven Madden from $23.00 to $26.00 and gave the company a "neutral" rating in a research note on Monday, July 28th. One research analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $28.80.
View Our Latest Report on SHOO
Steven Madden Price Performance
Shares of Steven Madden stock traded up $1.29 on Thursday, reaching $31.79. The stock had a trading volume of 1,996,400 shares, compared to its average volume of 1,553,535. Steven Madden, Ltd. has a 1 year low of $19.05 and a 1 year high of $50.01. The company has a market cap of $2.31 billion, a P/E ratio of 25.03 and a beta of 1.21. 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 business's 50 day moving average is $26.84 and its two-hundred day moving average is $25.54.
Steven Madden (NASDAQ:SHOO - Get Free Report) last announced its quarterly 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). Steven Madden had a return on equity of 18.32% and a net margin of 3.92%.The firm had revenue of $556.09 million during the quarter, compared to analysts' expectations of $575.83 million. During the same period in the previous year, the company posted $0.57 earnings per share. The company's quarterly revenue was up 6.8% compared to the same quarter last year. As a group, research analysts anticipate that Steven Madden, Ltd. will post 2.66 EPS for the current year.
Steven Madden Dividend Announcement
The company also recently declared 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. The ex-dividend date of this dividend is Friday, September 12th. This represents a $0.84 annualized dividend and a dividend yield of 2.6%. Steven Madden's dividend payout ratio is presently 66.14%.
Steven Madden Company Profile
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Free Report)
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.
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