Steven Madden, Ltd. $SHOO Shares Bought by Gagnon Securities LLC

Key Points

• Gagnon Securities LLC significantly increased its stake in Steven Madden, Ltd. by 235.4%, now owning 17,583 shares valued at $422,000.
• Institutional investors and hedge funds collectively own 99.88% of Steven Madden's stock, indicating strong institutional confidence in the company.
• Steven Madden recently declared a quarterly dividend of $0.21 per share, reflecting an annual dividend yield of 2.5%.

Gagnon Securities LLC raised its stake in Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 235.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,583 shares of the textile maker's stock after purchasing an additional 12,340 shares during the period. Gagnon Securities LLC's holdings in Steven Madden were worth $422,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Steven Madden by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 8,316,124 shares of the textile maker's stock valued at $221,542,000 after purchasing an additional 218,785 shares in the last quarter. Wellington Management Group LLP raised its position in Steven Madden by 1.8% in the 1st quarter. Wellington Management Group LLP now owns 4,802,603 shares of the textile maker's stock valued at $127,941,000 after purchasing an additional 84,570 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its position in Steven Madden by 4.5% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 2,452,407 shares of the textile maker's stock valued at $65,333,000 after purchasing an additional 106,028 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in Steven Madden by 29.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,455,381 shares of the textile maker's stock valued at $39,907,000 after purchasing an additional 332,689 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in Steven Madden by 46.5% in the 1st quarter. Victory Capital Management Inc. now owns 1,212,373 shares of the textile maker's stock valued at $32,298,000 after purchasing an additional 384,979 shares in the last quarter. Institutional investors and hedge funds own 99.88% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on SHOO. Weiss Ratings reissued a "hold (c)" rating on shares of Steven Madden in a research report on Saturday, September 27th. Piper Sandler raised Steven Madden from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $25.00 to $40.00 in a research report on Monday, September 22nd. Wall Street Zen lowered Steven Madden from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. UBS Group raised their target price on Steven Madden from $23.00 to $26.00 and gave the stock a "neutral" rating in a research report on Monday, July 28th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Steven Madden in a research report on Wednesday, July 30th. Two equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Steven Madden presently has a consensus rating of "Hold" and an average target price of $31.80.

Steven Madden Trading Down 1.4%

NASDAQ:SHOO opened at $33.23 on Wednesday. The stock's 50 day moving average price is $29.51 and its 200 day moving average price is $26.01. The company has a market capitalization of $2.41 billion, a PE ratio of 26.17 and a beta of 1.22. The company has a quick ratio of 1.13, a current ratio of 2.01 and a debt-to-equity ratio of 0.33. Steven Madden, Ltd. has a 52-week low of $19.05 and a 52-week high of $49.12.

Steven Madden (NASDAQ:SHOO - Get Free Report) last released its quarterly 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). The firm 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 company's quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.57 EPS. On average, research analysts anticipate that Steven Madden, Ltd. will post 2.66 EPS for the current year.

Steven Madden Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 23rd. Shareholders of record on Friday, September 12th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Friday, September 12th. Steven Madden's dividend payout ratio (DPR) is 66.14%.

About Steven Madden

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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