XTX Topco Ltd Acquires Shares of 32,129 Steven Madden, Ltd. (NASDAQ:SHOO)

Key Points

• XTX Topco Ltd acquired a new position in Steven Madden, purchasing 32,129 shares valued at approximately $856,000 during the 1st quarter.
• Several large investors have increased their stakes in Steven Madden, with 99.88% of the stock owned by institutional investors.
• The company announced a quarterly dividend of $0.21 per share, equating to an annual yield of 3.3%.

XTX Topco Ltd purchased a new position in Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 32,129 shares of the textile maker's stock, valued at approximately $856,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Federated Hermes Inc. raised its holdings in shares of Steven Madden by 270,516.2% in the first quarter. Federated Hermes Inc. now owns 533,114 shares of the textile maker's stock worth $14,202,000 after buying an additional 532,917 shares during the period. Mackenzie Financial Corp boosted its position in Steven Madden by 20.4% in the first quarter. Mackenzie Financial Corp now owns 10,137 shares of the textile maker's stock valued at $270,000 after buying an additional 1,721 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Steven Madden by 12.5% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,691 shares of the textile maker's stock valued at $711,000 after acquiring an additional 2,975 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Steven Madden in the 1st quarter valued at about $2,004,000. Finally, Y Intercept Hong Kong Ltd raised its position in shares of Steven Madden by 73.8% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 33,971 shares of the textile maker's stock worth $905,000 after purchasing an additional 14,429 shares during the last quarter. Hedge funds and other institutional investors own 99.88% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on SHOO. Piper Sandler reduced their price target on Steven Madden from $35.00 to $25.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Needham & Company LLC reiterated a "hold" rating on shares of Steven Madden in a research report on Wednesday, July 30th. Telsey Advisory Group restated a "market perform" rating and set a $26.00 target price (up from $24.00) on shares of Steven Madden in a report on Wednesday, July 30th. Citigroup raised Steven Madden from a "neutral" rating to a "buy" rating and raised their price target for the stock from $26.00 to $32.00 in a research report on Thursday, July 17th. Finally, UBS Group boosted their target price on shares of Steven Madden from $23.00 to $26.00 and gave the company a "neutral" rating in a research note on Monday, July 28th. Eight investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Steven Madden has an average rating of "Hold" and an average price target of $30.83.

Steven Madden Stock Performance

NASDAQ:SHOO remained flat at $25.10 during mid-day trading on Tuesday. The company had a trading volume of 1,428,709 shares, compared to its average volume of 1,732,805. The company has a market cap of $1.82 billion, a price-to-earnings ratio of 19.76 and a beta of 1.16. Steven Madden, Ltd. has a 1 year low of $19.05 and a 1 year high of $50.01. The company has a quick ratio of 1.13, a current ratio of 2.01 and a debt-to-equity ratio of 0.33. The business's fifty day moving average price is $25.00 and its two-hundred day moving average price is $27.57.

Steven Madden (NASDAQ:SHOO - Get Free Report) last released its earnings results 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 net margin of 3.92% and a return on equity of 18.32%. The business had revenue of $556.09 million during the quarter, compared to analyst estimates of $575.83 million. During the same period last year, the business earned $0.57 EPS. The business's quarterly revenue was up 6.8% compared to the same quarter last year. On average, sell-side analysts forecast that Steven Madden, Ltd. will post 2.66 earnings per share 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 3.3%. The ex-dividend date is Friday, September 12th. Steven Madden's dividend payout ratio is currently 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.