Hsbc Holdings PLC Sells 11,088 Shares of Steven Madden, Ltd. $SHOO

Key Points

• Hsbc Holdings PLC has reduced its holdings in Steven Madden, Ltd. (NASDAQ:SHOO) by 51.1%, resulting in ownership of 10,602 shares valued at approximately $280,000.
• Steven Madden reported $0.20 earnings per share for the last quarter, missing analyst estimates of $0.24, while revenue reached $556.09 million, below expectations of $575.83 million.
• The company recently announced a quarterly dividend of $0.21, translating to an annualized yield of 2.8%, with a dividend payout ratio of 66.14%.

Hsbc Holdings PLC reduced its holdings in shares of Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 51.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,602 shares of the textile maker's stock after selling 11,088 shares during the period. Hsbc Holdings PLC's holdings in Steven Madden were worth $280,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in SHOO. Mariner LLC boosted 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 acquiring an additional 319 shares in the last quarter. Northern Trust Corp boosted its position in shares of Steven Madden by 9.7% during the 4th quarter. Northern Trust Corp now owns 810,263 shares of the textile maker's stock valued at $34,452,000 after acquiring an additional 71,816 shares in the last quarter. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Steven Madden during the 4th quarter valued at about $398,000. Algert Global LLC acquired a new stake in shares of Steven Madden during the 4th quarter valued at about $478,000. Finally, Brevan Howard Capital Management LP acquired a new position in Steven Madden in the fourth quarter valued at about $442,000. 99.88% of the stock is currently owned by institutional investors and hedge funds.

Steven Madden Price Performance

Shares of NASDAQ SHOO traded up $0.22 during trading on Wednesday, reaching $30.50. The company had a trading volume of 1,584,544 shares, compared to its average volume of 1,272,473. Steven Madden, Ltd. has a 52 week low of $19.05 and a 52 week high of $50.01. The stock has a market cap of $2.22 billion, a PE ratio of 24.02 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 price is $26.84 and its 200-day moving average price is $25.54.

Steven Madden (NASDAQ:SHOO - Get Free Report) last announced its earnings results 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 company had revenue of $556.09 million during the quarter, compared to the consensus estimate of $575.83 million. During the same period in the prior year, the firm posted $0.57 earnings per share. The company's revenue was up 6.8% on a year-over-year basis. Analysts expect that Steven Madden, Ltd. will post 2.66 earnings per share for the current year.

Steven Madden Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders 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 dividend yield of 2.8%. Steven Madden's payout ratio is currently 66.14%.

Wall Street Analyst Weigh In

A number of research firms have commented on SHOO. Citigroup upgraded shares of Steven Madden from a "neutral" rating to a "buy" rating and boosted their price target for the company from $26.00 to $32.00 in a research report on Thursday, July 17th. Wall Street Zen lowered shares of Steven Madden from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. UBS Group boosted their price target on shares of Steven Madden from $23.00 to $26.00 and gave the company a "neutral" rating in a research report on Monday, July 28th. Needham & Company LLC restated a "hold" rating on shares of Steven Madden in a research report on Wednesday, July 30th. Finally, Telsey Advisory Group restated a "market perform" rating and issued a $26.00 price target (up from $24.00) on shares of Steven Madden in a research report on Wednesday, July 30th. 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 company presently has an average rating of "Hold" and a consensus price target of $28.80.

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.