Y Intercept Hong Kong Ltd Boosts Holdings in Steven Madden, Ltd. (NASDAQ:SHOO)

Key Points

• Y Intercept Hong Kong Ltd increased its stake in Steven Madden, Ltd. by 73.8%, acquiring an additional 14,429 shares in the first quarter, bringing its total holdings to 33,971 shares valued at approximately $905,000.
• Steven Madden's recent earnings report indicated $0.60 earnings per share (EPS), exceeding analysts' estimates of $0.46, while the company reported revenue of $551.38 million for the quarter.
• A quarterly dividend of $0.21 was recently declared, resulting in an annualized yield of 3.13%, with a payout ratio currently at 36.21%.

Y Intercept Hong Kong Ltd raised its stake in Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 73.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 33,971 shares of the textile maker's stock after acquiring an additional 14,429 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in Steven Madden were worth $905,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SHOO. HighTower Advisors LLC boosted its stake in Steven Madden by 11.7% in the fourth quarter. HighTower Advisors LLC now owns 6,439 shares of the textile maker's stock valued at $274,000 after acquiring an additional 676 shares during the last quarter. Xponance Inc. boosted its stake in Steven Madden by 12.3% in the fourth quarter. Xponance Inc. now owns 5,320 shares of the textile maker's stock valued at $226,000 after acquiring an additional 584 shares during the last quarter. Quantbot Technologies LP purchased a new position in Steven Madden in the fourth quarter valued at about $319,000. American Century Companies Inc. boosted its stake in Steven Madden by 53.4% in the fourth quarter. American Century Companies Inc. now owns 74,779 shares of the textile maker's stock valued at $3,180,000 after acquiring an additional 26,043 shares during the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new position in Steven Madden in the fourth quarter valued at about $1,278,000. 99.88% of the stock is currently owned by hedge funds and other institutional investors.

Steven Madden Trading Down 3.9%

Shares of SHOO stock traded down $1.05 during trading on Tuesday, reaching $25.96. 523,561 shares of the company's stock traded hands, compared to its average volume of 1,517,513. The company has a market capitalization of $1.89 billion, a P/E ratio of 11.20 and a beta of 1.10. The firm's 50-day moving average is $25.05 and its 200 day moving average is $28.14. Steven Madden, Ltd. has a 1 year low of $19.05 and a 1 year high of $50.01.

Steven Madden (NASDAQ:SHOO - Get Free Report) last posted its earnings results on Wednesday, May 7th. The textile maker reported $0.60 earnings per share for the quarter, topping analysts' consensus estimates of $0.46 by $0.14. Steven Madden had a net margin of 7.26% and a return on equity of 21.63%. The business had revenue of $551.38 million for the quarter, compared to analyst estimates of $557.81 million. During the same quarter in the prior year, the firm posted $0.65 EPS. Steven Madden's revenue was up .2% on a year-over-year basis. As a group, sell-side analysts predict that Steven Madden, Ltd. will post 2.66 earnings per share for the current fiscal year.

Steven Madden Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Monday, June 9th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.24%. The ex-dividend date was Monday, June 9th. Steven Madden's dividend payout ratio is presently 36.21%.

Analyst Ratings Changes

SHOO has been the topic of a number of research analyst reports. Piper Sandler dropped their target price on shares of Steven Madden from $35.00 to $25.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Telsey Advisory Group reiterated a "market perform" rating and issued a $24.00 target price on shares of Steven Madden in a research note on Wednesday, July 23rd. Citigroup upgraded shares of Steven Madden from a "neutral" rating to a "buy" rating and boosted their target price for the company from $26.00 to $32.00 in a research note on Thursday, July 17th. Needham & Company LLC restated a "hold" rating on shares of Steven Madden in a research note on Friday, May 2nd. Finally, UBS Group upped their price target on shares of Steven Madden from $23.00 to $26.00 and gave the company a "neutral" rating in a research note on Monday. Eight analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $30.50.

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.