Graham Capital Management L.P. Invests $1.04 Million in Steven Madden, Ltd. (NASDAQ:SHOO)

Graham Capital Management L.P. acquired a new position in Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 24,520 shares of the textile maker's stock, valued at approximately $1,043,000.

A number of other hedge funds have also recently made changes to their positions in SHOO. Pacer Advisors Inc. bought a new position in shares of Steven Madden in the fourth quarter worth about $72,795,000. First Trust Advisors LP boosted its stake in shares of Steven Madden by 36.9% in the fourth quarter. First Trust Advisors LP now owns 2,002,228 shares of the textile maker's stock worth $85,135,000 after acquiring an additional 539,738 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Steven Madden in the fourth quarter worth about $13,652,000. Norges Bank purchased a new stake in shares of Steven Madden in the fourth quarter worth about $9,399,000. Finally, Trexquant Investment LP lifted its position in shares of Steven Madden by 147.3% in the fourth quarter. Trexquant Investment LP now owns 257,334 shares of the textile maker's stock worth $10,942,000 after buying an additional 153,280 shares in the last quarter. Institutional investors own 99.88% of the company's stock.

Steven Madden Stock Performance

SHOO stock traded down $0.36 during midday trading on Friday, reaching $26.18. 1,813,202 shares of the company traded hands, compared to its average volume of 1,023,444. Steven Madden, Ltd. has a 52-week low of $19.05 and a 52-week high of $50.01. The business has a 50 day moving average of $23.41 and a 200-day moving average of $34.87. The firm has a market capitalization of $1.90 billion, a price-to-earnings ratio of 11.14 and a beta of 1.04.

Steven Madden (NASDAQ:SHOO - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The textile maker reported $0.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.46 by $0.14. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. The business had revenue of $551.38 million for the quarter, compared to the consensus estimate of $557.81 million. During the same period in the prior year, the business posted $0.65 earnings per share. The company's quarterly revenue was up .2% compared to the same quarter last year. Research analysts anticipate that Steven Madden, Ltd. will post 2.66 earnings per share for the current year.

Steven Madden Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Monday, June 9th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 3.21%. Steven Madden's payout ratio is 36.21%.

Wall Street Analysts Forecast Growth

SHOO has been the topic of a number of research analyst reports. Citigroup decreased their target price on Steven Madden from $35.00 to $23.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. Loop Capital decreased their target price on Steven Madden from $40.00 to $35.00 and set a "hold" rating on the stock in a research report on Thursday, February 27th. UBS Group boosted their target price on Steven Madden from $22.00 to $23.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Telsey Advisory Group reiterated a "market perform" rating and issued a $24.00 target price on shares of Steven Madden in a research report on Thursday, May 8th. Finally, Jefferies Financial Group reiterated a "hold" rating on shares of Steven Madden in a research report on Monday, February 3rd. Nine research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Steven Madden currently has a consensus rating of "Hold" and an average price target of $32.00.

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.