Wellington Management Group LLP Grows Stock Position in Steven Madden, Ltd. $SHOO

Key Points

• Wellington Management Group LLP increased its stake in Steven Madden, owning approximately 6.62% of the company with a total position valued at $127.94 million after acquiring additional shares in the first quarter.
• Steven Madden's stock saw a reported 2.0% increase recently, with its market capitalization at $1.97 billion and a P/E ratio of 21.36.
• The company announced a quarterly dividend of $0.21, representing an annualized yield of 3.1%, which will be paid to investors on September 23rd.

Wellington Management Group LLP lifted its stake in Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 1.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,802,603 shares of the textile maker's stock after purchasing an additional 84,570 shares during the quarter. Wellington Management Group LLP owned about 6.62% of Steven Madden worth $127,941,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SHOO. CX Institutional acquired a new stake in shares of Steven Madden in the first quarter valued at approximately $32,000. Caitong International Asset Management Co. Ltd increased its stake in Steven Madden by 328.8% during the first quarter. Caitong International Asset Management Co. Ltd now owns 2,161 shares of the textile maker's stock worth $58,000 after acquiring an additional 1,657 shares during the last quarter. Quarry LP increased its stake in Steven Madden by 403.6% during the fourth quarter. Quarry LP now owns 1,385 shares of the textile maker's stock worth $59,000 after acquiring an additional 1,110 shares during the last quarter. CWM LLC increased its stake in Steven Madden by 231.0% during the first quarter. CWM LLC now owns 2,277 shares of the textile maker's stock worth $61,000 after acquiring an additional 1,589 shares during the last quarter. Finally, Covestor Ltd increased its stake in Steven Madden by 22.9% during the first quarter. Covestor Ltd now owns 4,906 shares of the textile maker's stock worth $130,000 after acquiring an additional 915 shares during the last quarter. Institutional investors and hedge funds own 99.88% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Wall Street Zen cut Steven Madden from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. Citigroup raised Steven Madden from a "neutral" rating to a "buy" rating and raised their target price for the stock from $26.00 to $32.00 in a research note on Thursday, July 17th. Needham & Company LLC reissued a "hold" rating on shares of Steven Madden in a research note on Wednesday, July 30th. 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 note on Wednesday, July 30th. Finally, 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 note on Monday, July 28th. One analyst has rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $28.80.

Steven Madden Trading Up 5.2%

Shares of NASDAQ SHOO traded up $1.40 during trading on Friday, reaching $28.53. The stock had a trading volume of 1,449,878 shares, compared to its average volume of 1,825,735. Steven Madden, Ltd. has a fifty-two week low of $19.05 and a fifty-two week high of $50.01. 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 $25.42 and its 200-day moving average price is $26.20. The company has a market cap 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 for the quarter, missing analysts' consensus estimates of $0.24 by ($0.04). Steven Madden had a net margin of 3.92% and a return on equity of 18.32%. The firm had revenue of $556.09 million during the quarter, compared to analyst estimates of $575.83 million. During the same period in the previous year, the firm posted $0.57 earnings per share. The company's quarterly revenue was up 6.8% compared to the same quarter last year. On average, equities research analysts predict that Steven Madden, Ltd. will post 2.66 EPS for the current fiscal year.

Steven Madden Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 23rd. Investors of record on Friday, September 12th will be issued a $0.21 dividend. The ex-dividend date is Friday, September 12th. This represents a $0.84 dividend on an annualized basis and a yield of 2.9%. Steven Madden's dividend payout ratio (DPR) is 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.