Versor Investments LP increased its stake in Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 141.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 32,083 shares of the textile maker's stock after acquiring an additional 18,783 shares during the period. Versor Investments LP's holdings in Steven Madden were worth $855,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Algert Global LLC lifted its holdings in Steven Madden by 1,100.5% in the 1st quarter. Algert Global LLC now owns 135,060 shares of the textile maker's stock worth $3,598,000 after buying an additional 123,810 shares during the period. American Century Companies Inc. lifted its holdings in Steven Madden by 74.0% in the 1st quarter. American Century Companies Inc. now owns 130,079 shares of the textile maker's stock worth $3,465,000 after buying an additional 55,300 shares during the period. Caitong International Asset Management Co. Ltd lifted its holdings in Steven Madden by 328.8% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 2,161 shares of the textile maker's stock worth $58,000 after buying an additional 1,657 shares during the period. Russell Investments Group Ltd. lifted its holdings in Steven Madden by 50.5% in the 1st quarter. Russell Investments Group Ltd. now owns 102,940 shares of the textile maker's stock worth $2,742,000 after buying an additional 34,530 shares during the period. Finally, HighTower Advisors LLC lifted its holdings in Steven Madden by 17.5% in the 1st quarter. HighTower Advisors LLC now owns 7,567 shares of the textile maker's stock worth $202,000 after buying an additional 1,128 shares during the period. Institutional investors own 99.88% of the company's stock.
Steven Madden Stock Up 5.2%
Shares of SHOO stock traded up $1.40 during midday trading on Friday, reaching $28.53. 1,449,878 shares of the stock were exchanged, compared to its average volume of 1,825,735. Steven Madden, Ltd. has a 1 year low of $19.05 and a 1 year high of $50.01. The company's 50 day moving average is $25.42 and its two-hundred day moving average is $26.20. 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 firm has a market cap of $2.07 billion, a PE ratio of 22.46 and a beta of 1.16.
Steven Madden (NASDAQ:SHOO - Get Free Report) last posted 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 firm had revenue of $556.09 million for the quarter, compared to analysts' expectations of $575.83 million. During the same quarter last year, the company posted $0.57 EPS. The firm's revenue was up 6.8% on a year-over-year basis. On average, equities research analysts predict that Steven Madden, Ltd. will post 2.66 EPS for the current year.
Steven Madden Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 23rd. Stockholders of record on Friday, September 12th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Friday, September 12th. Steven Madden's payout ratio is currently 66.14%.
Wall Street Analysts Forecast Growth
Several research firms have weighed in on SHOO. Wall Street Zen cut Steven Madden from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. UBS Group increased their price objective on Steven Madden from $23.00 to $26.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. Telsey Advisory Group reiterated a "market perform" rating and issued a $26.00 price objective (up previously from $24.00) on shares of Steven Madden in a report on Wednesday, July 30th. Needham & Company LLC reiterated a "hold" rating on shares of Steven Madden in a report on Wednesday, July 30th. Finally, Citigroup upgraded 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 report on Thursday, July 17th. One analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, Steven Madden has a consensus rating of "Hold" and an average target price of $28.80.
Get Our Latest Research Report on SHOO
About Steven Madden
(
Free Report)
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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