Vanguard Group Inc. Grows Position in Steven Madden, Ltd. $SHOO

Key Points

• Vanguard Group Inc. increased its stake in Steven Madden, Ltd. by 2.7% during the first quarter, owning approximately 11.46% of the company valued at $221.5 million.
• Steven Madden reported a quarterly earnings miss with $0.20 EPS compared to the expected $0.24 EPS, and revenue of $556.09 million falling short of analyst estimates.
• The company declared a quarterly dividend of $0.21, representing an annualized dividend yield of 3.1%, with a payout ratio of 66.14%.

Vanguard Group Inc. boosted its position in shares of Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 2.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,316,124 shares of the textile maker's stock after acquiring an additional 218,785 shares during the period. Vanguard Group Inc. owned 11.46% of Steven Madden worth $221,542,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CX Institutional bought a new stake in Steven Madden in the first quarter worth $32,000. Quarry LP increased its position in Steven Madden by 403.6% in the fourth quarter. Quarry LP now owns 1,385 shares of the textile maker's stock worth $59,000 after purchasing an additional 1,110 shares during the last quarter. CWM LLC increased its position in Steven Madden by 231.0% in the first quarter. CWM LLC now owns 2,277 shares of the textile maker's stock worth $61,000 after purchasing an additional 1,589 shares during the last quarter. Mariner LLC increased its position in Steven Madden by 7.2% in the fourth quarter. Mariner LLC now owns 4,740 shares of the textile maker's stock worth $202,000 after purchasing an additional 319 shares during the last quarter. Finally, PharVision Advisers LLC bought a new stake in Steven Madden in the fourth quarter worth $226,000. Institutional investors own 99.88% of the company's stock.

Analyst Upgrades and Downgrades

SHOO has been the topic of several research reports. Needham & Company LLC restated a "hold" rating on shares of Steven Madden in a research report on Wednesday, July 30th. UBS Group lifted their price objective on shares of Steven Madden from $23.00 to $26.00 and gave the stock a "neutral" rating in a research note on Monday, July 28th. Wall Street Zen lowered shares of Steven Madden from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. 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 research note on Wednesday, July 30th. Finally, Citigroup raised shares of Steven Madden from a "neutral" rating to a "buy" rating and boosted their target price for the company from $26.00 to $32.00 in a research note on Thursday, July 17th. One equities research analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $28.80.

Steven Madden Trading Down 1.8%

Shares of SHOO traded down $0.50 during trading hours on Monday, reaching $28.03. 1,173,535 shares of the company traded hands, compared to its average volume of 1,825,735. The firm has a market cap of $2.04 billion, a price-to-earnings ratio of 22.07 and a beta of 1.16. Steven Madden, Ltd. has a 12-month low of $19.05 and a 12-month high of $50.01. 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 stock's fifty day moving average price is $25.49 and its 200 day moving average price is $26.13.

Steven Madden (NASDAQ:SHOO - Get Free Report) last issued its 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 net margin of 3.92% and a return on equity of 18.32%. The company had revenue of $556.09 million for the quarter, compared to analysts' expectations of $575.83 million. During the same period in the prior year, the firm posted $0.57 earnings per share. The firm's revenue for the quarter was up 6.8% compared to the same quarter last year. Sell-side analysts forecast that Steven Madden, Ltd. will post 2.66 earnings per share for the current year.

Steven Madden Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 23rd. Investors of record on Friday, September 12th will be paid 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 yield of 3.0%. Steven Madden's dividend payout ratio 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.