Federated Hermes Inc. Boosts Holdings in Steven Madden, Ltd. (NASDAQ:SHOO)

Key Points

• Federated Hermes Inc. increased its stake in Steven Madden, Ltd. by 270,516.2% in the first quarter, holding 533,114 shares valued at approximately $14.2 million.
• Steven Madden reported earnings per share (EPS) of $0.20 for the last quarter, missing estimates, as revenue reached $556.09 million, below expectations of $575.83 million.
• The company announced a quarterly dividend of $0.21 per share to be paid on September 23rd, representing an annual yield of 3.6%.

Federated Hermes Inc. lifted its position in shares of Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 270,516.2% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 533,114 shares of the textile maker's stock after buying an additional 532,917 shares during the quarter. Federated Hermes Inc. owned approximately 0.73% of Steven Madden worth $14,202,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. CX Institutional bought a new stake in Steven Madden in the 1st quarter valued at $32,000. Quarry LP raised its position in shares of Steven Madden by 403.6% during the 4th quarter. Quarry LP now owns 1,385 shares of the textile maker's stock valued at $59,000 after buying an additional 1,110 shares in the last quarter. CWM LLC raised its position in shares of 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. Mariner LLC raised its position in shares of Steven Madden by 7.2% during the 4th quarter. Mariner LLC now owns 4,740 shares of the textile maker's stock valued at $202,000 after buying an additional 319 shares in the last quarter. Finally, PharVision Advisers LLC purchased a new stake in shares of Steven Madden during the 4th quarter valued at about $226,000. Hedge funds and other institutional investors own 99.88% of the company's stock.

Steven Madden Trading Up 6.7%

SHOO stock traded up $1.58 during mid-day trading on Monday, reaching $25.10. The company had a trading volume of 2,353,968 shares, compared to its average volume of 1,675,870. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.01 and a quick ratio of 1.13. The company has a market capitalization of $1.82 billion, a PE ratio of 19.76 and a beta of 1.16. The firm has a 50 day moving average of $24.99 and a 200 day moving average of $27.68. 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 released its quarterly earnings data 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 net margin of 3.92% and a return on equity of 18.32%. The business had revenue of $556.09 million for the quarter, compared to the consensus estimate of $575.83 million. During the same quarter in the prior year, the business posted $0.57 earnings per share. Steven Madden's revenue for the quarter was up 6.8% on a year-over-year basis. On average, equities analysts predict that Steven Madden, Ltd. will post 2.66 earnings per share for the current fiscal year.

Steven Madden Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 23rd. Stockholders of record on Friday, September 12th will be paid a dividend of $0.21 per share. The ex-dividend date is Friday, September 12th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.3%. Steven Madden's dividend payout ratio (DPR) is currently 66.14%.

Wall Street Analyst Weigh In

SHOO has been the topic of a number of recent analyst reports. Telsey Advisory Group reissued a "market perform" rating and issued a $26.00 price objective (up from $24.00) on shares of Steven Madden in a research report on Wednesday, July 30th. Piper Sandler reduced their price objective on shares of Steven Madden from $35.00 to $25.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Citigroup raised shares of Steven Madden from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $26.00 to $32.00 in a research report on Thursday, July 17th. Needham & Company LLC reissued a "hold" rating on shares of Steven Madden in a research report on Wednesday, July 30th. Finally, UBS Group increased their price objective on shares of Steven Madden from $23.00 to $26.00 and gave the stock a "neutral" rating in a research report on Monday, July 28th. Eight investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Steven Madden currently has a consensus rating of "Hold" and an average price target of $30.83.

Steven Madden Company 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.