Voya Investment Management LLC Grows Stock Position in Steven Madden, Ltd. $SHOO

Key Points

• Voya Investment Management LLC increased its stake in Steven Madden, Ltd. by 9.1%, owning approximately 205,402 shares valued at $5.47 million after acquiring additional shares in the first quarter.
• Steven Madden reported a quarterly earnings per share of $0.20, missing the consensus estimate of $0.24, while revenue for the quarter reached $556.09 million, falling short of the expected $575.83 million.
• The company announced a quarterly dividend of $0.21 per share with an annual yield of 2.6%, and institutional investors hold approximately 99.88% of the company's stock.

Voya Investment Management LLC grew its position in Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 9.1% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 205,402 shares of the textile maker's stock after buying an additional 17,190 shares during the period. Voya Investment Management LLC owned 0.28% of Steven Madden worth $5,472,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of SHOO. Tidal Investments LLC raised its stake in Steven Madden by 2.4% in the fourth quarter. Tidal Investments LLC now owns 17,784 shares of the textile maker's stock valued at $756,000 after buying an additional 409 shares during the last quarter. Vident Advisory LLC increased its stake in Steven Madden by 4.6% during the 4th quarter. Vident Advisory LLC now owns 17,267 shares of the textile maker's stock valued at $734,000 after purchasing an additional 756 shares in the last quarter. Covestor Ltd raised its holdings in shares of Steven Madden by 22.9% in the first quarter. Covestor Ltd now owns 4,906 shares of the textile maker's stock worth $130,000 after buying an additional 915 shares during the last quarter. HighTower Advisors LLC lifted its stake in shares of Steven Madden by 17.5% during the first quarter. HighTower Advisors LLC now owns 7,567 shares of the textile maker's stock worth $202,000 after buying an additional 1,128 shares during the period. Finally, CX Institutional acquired a new stake in shares of Steven Madden during the first quarter worth $32,000. Institutional investors own 99.88% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on SHOO shares. Citigroup upgraded Steven Madden from a "neutral" rating to a "buy" rating and raised their target price for the stock from $26.00 to $32.00 in a research note on Thursday, July 17th. Telsey Advisory Group restated a "market perform" rating and issued a $26.00 price objective (up from $24.00) on shares of Steven Madden in a research note on Wednesday, July 30th. Piper Sandler raised Steven Madden from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $25.00 to $40.00 in a report on Monday. Needham & Company LLC reiterated a "hold" rating on shares of Steven Madden in a research report on Wednesday, July 30th. Finally, UBS Group raised their price target 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. Two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $31.80.

Steven Madden Stock Performance

NASDAQ SHOO traded up $1.14 during mid-day trading on Monday, reaching $33.16. 2,970,133 shares of the stock were exchanged, compared to its average volume of 1,555,884. The company has a market capitalization of $2.41 billion, a P/E ratio of 26.11 and a beta of 1.21. 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 business's 50 day moving average is $27.87 and its 200-day moving average is $25.42. Steven Madden, Ltd. has a 1 year low of $19.05 and a 1 year 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 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 analyst estimates of $575.83 million. During the same quarter last year, the company posted $0.57 EPS. The company's revenue was up 6.8% on a year-over-year basis. On average, equities research analysts forecast that Steven Madden, Ltd. will post 2.66 EPS for the current fiscal year.

Steven Madden Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 23rd. Stockholders of record on Friday, September 12th will be given 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 2.5%. Steven Madden's dividend payout ratio (DPR) 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.