Punch & Associates Investment Management Inc. lifted its holdings in Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 67.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 327,422 shares of the textile maker's stock after purchasing an additional 132,282 shares during the period. Punch & Associates Investment Management Inc. owned about 0.45% of Steven Madden worth $8,723,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently bought and sold shares of SHOO. CX Institutional acquired a new stake in Steven Madden in the first quarter valued at approximately $32,000. Caitong International Asset Management Co. Ltd lifted its position in shares of 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 grew its stake in Steven Madden by 231.0% in the 1st quarter. CWM LLC now owns 2,277 shares of the textile maker's stock valued at $61,000 after acquiring an additional 1,589 shares during the period. Covestor Ltd increased its holdings in Steven Madden by 22.9% in 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 in the last quarter. Finally, Gagnon Securities LLC acquired a new position in Steven Madden during the first quarter worth $140,000. Hedge funds and other institutional investors own 99.88% of the company's stock.
Steven Madden Price Performance
Shares of SHOO stock traded down $0.22 during trading hours on Tuesday, reaching $30.28. The company had a trading volume of 1,477,475 shares, compared to its average volume of 1,287,036. Steven Madden, Ltd. has a 12-month low of $19.05 and a 12-month high of $50.01. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.13 and a current ratio of 2.01. The company has a market capitalization of $2.20 billion, a price-to-earnings ratio of 23.84 and a beta of 1.21. The stock has a fifty day moving average of $26.75 and a 200-day moving average of $25.51.
Steven Madden (NASDAQ:SHOO - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The textile maker reported $0.20 EPS for the quarter, missing analysts' consensus estimates of $0.24 by ($0.04). The company had revenue of $556.09 million for the quarter, compared to analysts' expectations of $575.83 million. Steven Madden had a return on equity of 18.32% and a net margin of 3.92%.The business's quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the business 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 disclosed a quarterly dividend, which will be paid on Tuesday, September 23rd. Investors 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 dividend on an annualized basis and a dividend yield of 2.8%. Steven Madden's dividend payout ratio is currently 66.14%.
Analysts Set New Price Targets
Several equities analysts have issued reports on the stock. UBS Group increased their price objective on shares of Steven Madden from $23.00 to $26.00 and gave the company a "neutral" rating in a report on Monday, July 28th. Citigroup upgraded shares of Steven Madden from a "neutral" rating to a "buy" rating and upped their price target for the stock from $26.00 to $32.00 in a research report on Thursday, July 17th. Telsey Advisory Group reiterated a "market perform" rating and issued a $26.00 price objective (up from $24.00) on shares of Steven Madden in a report on Wednesday, July 30th. Wall Street Zen lowered Steven Madden from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. Finally, Needham & Company LLC restated a "hold" rating on shares of Steven Madden in a research report on Wednesday, July 30th. One equities research analyst has rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $28.80.
View Our Latest Analysis on SHOO
About Steven Madden
(
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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