Versor Investments LP Grows Position in Steven Madden, Ltd. $SHOO

Key Points

• Versor Investments LP raised its stake in Steven Madden, Ltd. by 141.2%, acquiring an additional 18,783 shares, bringing its total holdings to 32,083 shares worth $855,000.
• Steven Madden recently posted quarterly earnings of $0.20 EPS, missing expectations, with revenue of $556.09 million against a forecast of $575.83 million.
• The company declared a $0.21 quarterly dividend, amounting to a 3.1% yield, with an ex-dividend date set for September 12th.

Versor Investments LP increased its stake in Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 141.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,083 shares of the textile maker's stock after buying 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.

Several other institutional investors also recently added to or reduced their stakes in SHOO. CX Institutional purchased a new position in Steven Madden in the 1st quarter worth about $32,000. Caitong International Asset Management Co. Ltd increased its stake 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. Quarry LP increased its stake in Steven Madden by 403.6% in the 4th quarter. Quarry LP now owns 1,385 shares of the textile maker's stock worth $59,000 after buying an additional 1,110 shares during the period. CWM LLC increased its stake in Steven Madden by 231.0% in the 1st quarter. CWM LLC now owns 2,277 shares of the textile maker's stock worth $61,000 after buying an additional 1,589 shares during the period. Finally, Covestor Ltd increased its stake in Steven Madden by 22.9% in the 1st quarter. Covestor Ltd now owns 4,906 shares of the textile maker's stock worth $130,000 after buying an additional 915 shares during the period. Hedge funds and other institutional investors own 99.88% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Needham & Company LLC reissued a "hold" rating on shares of Steven Madden in a research report on Wednesday, July 30th. Citigroup raised shares of Steven Madden from a "neutral" rating to a "buy" rating and raised their target price for the company from $26.00 to $32.00 in a research report on Thursday, July 17th. Telsey Advisory Group reissued 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 raised their target price 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. Finally, Wall Street Zen downgraded shares of Steven Madden from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. One analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Steven Madden has a consensus rating of "Hold" and a consensus price target of $28.80.

Steven Madden Stock Up 5.2%

Shares of Steven Madden stock traded up $1.40 on Friday, reaching $28.53. The stock had a trading volume of 1,449,878 shares, compared to its average volume of 1,807,009. The company has a 50 day moving average price of $25.42 and a 200 day moving average price of $26.36. 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 1 year low of $19.05 and a 1 year high of $50.01. The stock has a market capitalization of $2.07 billion, a P/E ratio of 22.46 and a beta of 1.16.

Steven Madden (NASDAQ:SHOO - Get Free Report) last issued its quarterly earnings data 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). 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 during the quarter, compared to analysts' expectations of $575.83 million. During the same period in the previous year, the firm earned $0.57 EPS. The firm's quarterly revenue was up 6.8% on a year-over-year basis. As a group, equities research analysts forecast that Steven Madden, Ltd. will post 2.66 EPS for the current year.

Steven Madden Dividend Announcement

The company also recently disclosed 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. 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 2.9%. Steven Madden's payout ratio is presently 66.14%.

Steven Madden 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.