Vanguard Group Inc. Purchases 218,785 Shares of 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% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,316,124 shares of the textile maker's stock after purchasing 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 reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. First Trust Advisors LP lifted its position in shares of Steven Madden by 36.9% in the fourth quarter. First Trust Advisors LP now owns 2,002,228 shares of the textile maker's stock worth $85,135,000 after buying an additional 539,738 shares during the last quarter. Federated Hermes Inc. lifted its position in shares of Steven Madden by 270,516.2% in the first quarter. Federated Hermes Inc. now owns 533,114 shares of the textile maker's stock worth $14,202,000 after buying an additional 532,917 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Steven Madden by 46.5% in the first quarter. Victory Capital Management Inc. now owns 1,212,373 shares of the textile maker's stock worth $32,298,000 after buying an additional 384,979 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Steven Madden by 29.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,455,381 shares of the textile maker's stock worth $39,907,000 after buying an additional 332,689 shares during the last quarter. Finally, Moran Wealth Management LLC lifted its position in shares of Steven Madden by 485.2% in the first quarter. Moran Wealth Management LLC now owns 123,621 shares of the textile maker's stock worth $3,293,000 after buying an additional 102,495 shares during the last quarter. Institutional investors and hedge funds own 99.88% of the company's stock.

Steven Madden Stock Performance

Shares of Steven Madden stock traded up $1.40 during trading on Friday, reaching $28.53. The company's stock had a trading volume of 1,449,878 shares, compared to its average volume of 1,807,009. 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 fifty day moving average price is $25.42 and its 200-day moving average price is $26.36. The firm has a market cap of $2.07 billion, a price-to-earnings ratio of 22.46 and a beta of 1.16. Steven Madden, Ltd. has a one year low of $19.05 and a one year high of $50.01.

Steven Madden (NASDAQ:SHOO - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The textile maker reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.04). Steven Madden had a net margin of 3.92% and a return on equity of 18.32%. The firm 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 firm earned $0.57 earnings per share. The company's revenue was up 6.8% on a year-over-year basis. As a group, equities research analysts predict that Steven Madden, Ltd. will post 2.66 earnings per share for the current year.

Steven Madden Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 23rd. Investors of record on Friday, September 12th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 2.9%. The ex-dividend date is Friday, September 12th. Steven Madden's payout ratio is currently 66.14%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Needham & Company LLC reaffirmed a "hold" rating on shares of Steven Madden in a research report on Wednesday, July 30th. Wall Street Zen cut Steven Madden from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. Citigroup upgraded Steven Madden from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $26.00 to $32.00 in a research note 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 research note on Wednesday, July 30th. Finally, UBS Group lifted their price objective on Steven Madden from $23.00 to $26.00 and gave the stock 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 given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $28.80.

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.