Three Seasons Wealth LLC Takes $475,000 Position in Steven Madden, Ltd. $SHOO

Key Points

• Three Seasons Wealth LLC has acquired a new stake of approximately $475,000 in Steven Madden, Ltd., purchasing 19,796 shares of the company during the second quarter.
• Steven Madden's most recent quarterly earnings report indicated an EPS of $0.20, missing expectations by $0.04, with revenue of $556.09 million, which is below the consensus estimate of $575.83 million.
• The company announced a quarterly dividend of $0.21, yielding 2.6%, with a payout ratio of 66.14%, set to be paid on September 23rd.

Three Seasons Wealth LLC bought a new stake in Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 19,796 shares of the textile maker's stock, valued at approximately $475,000.

A number of other large investors also recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of 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 buying an additional 218,785 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of 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 buying an additional 84,570 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its stake in shares of 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 buying an additional 106,028 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of 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 buying an additional 332,689 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in shares of 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 buying an additional 384,979 shares in the last quarter. Institutional investors and hedge funds own 99.88% of the company's stock.

Steven Madden Stock Performance

Shares of NASDAQ SHOO traded up $1.14 during trading hours on Monday, reaching $33.16. The stock had a trading volume of 2,773,778 shares, compared to its average volume of 1,574,699. The business's fifty day moving average is $27.70 and its two-hundred day moving average is $25.39. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.01 and a quick ratio of 1.13. The company has a market cap of $2.41 billion, a price-to-earnings ratio of 26.11 and a beta of 1.21. Steven Madden, Ltd. has a twelve month low of $19.05 and a twelve month high of $50.01.

Steven Madden (NASDAQ:SHOO - Get Free Report) last issued its earnings results on Wednesday, July 30th. The textile maker reported $0.20 EPS for the quarter, missing analysts' consensus estimates of $0.24 by ($0.04). The firm had revenue of $556.09 million during the quarter, compared to analyst estimates of $575.83 million. Steven Madden had a net margin of 3.92% and a return on equity of 18.32%. The business's revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.57 earnings per share. As a group, research analysts expect that Steven Madden, Ltd. will post 2.66 EPS for the current year.

Steven Madden Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders 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 2.5%. The ex-dividend date is Friday, September 12th. Steven Madden's dividend payout ratio is currently 66.14%.

Analysts Set New Price Targets

Several equities research analysts recently commented on SHOO shares. Piper Sandler raised Steven Madden from a "neutral" rating to an "overweight" rating and boosted their price target for the company from $25.00 to $40.00 in a research note on Monday. Telsey Advisory Group reaffirmed a "market perform" rating and set a $26.00 target price (up previously from $24.00) on shares of Steven Madden in a research report on Wednesday, July 30th. UBS Group upped 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. Needham & Company LLC reaffirmed a "hold" rating on shares of Steven Madden in a research report on Wednesday, July 30th. Finally, Citigroup raised Steven Madden from a "neutral" rating to a "buy" rating and upped their target price for the stock from $26.00 to $32.00 in a research report on Thursday, July 17th. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $31.80.

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.