Zurcher Kantonalbank Zurich Cantonalbank Has $711,000 Stake in Steven Madden, Ltd. (NASDAQ:SHOO)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in Steven Madden, Ltd. (NASDAQ:SHOO) by 12.5% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 26,691 shares of the textile maker’s stock after purchasing an additional 2,975 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Steven Madden were worth $711,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CX Institutional acquired a new position in Steven Madden in the 1st quarter valued at approximately $32,000. 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 valued at $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 valued at $61,000 after buying an additional 1,589 shares during the period. Mariner LLC increased its stake in Steven Madden by 7.2% in the 4th quarter. Mariner LLC now owns 4,740 shares of the textile maker’s stock valued at $202,000 after buying an additional 319 shares during the period. Finally, PharVision Advisers LLC acquired a new position in Steven Madden in the 4th quarter valued at approximately $226,000. Institutional investors and hedge funds own 99.88% of the company’s stock.

Steven Madden Stock Performance

SHOO stock opened at $25.83 on Thursday. 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 company has a market capitalization of $1.88 billion, a price-to-earnings ratio of 20.34 and a beta of 1.16. Steven Madden, Ltd. has a 12 month low of $19.05 and a 12 month high of $50.01. The firm has a 50 day moving average of $24.98 and a two-hundred day moving average of $27.54.

Steven Madden (NASDAQ:SHOO) last posted its earnings results on Wednesday, July 30th. The textile maker reported $0.20 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.04). The business had revenue of $556.09 million during the quarter, compared to the consensus estimate of $575.83 million. Steven Madden had a return on equity of 18.32% and a net margin of 3.92%. The business’s revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.57 earnings per share. As a group, equities analysts anticipate that Steven Madden, Ltd. will post 2.66 EPS for the current fiscal year.

Steven Madden Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders of record on Friday, September 12th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Friday, September 12th. Steven Madden’s payout ratio is currently 66.14%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Steven Madden in a research note on Wednesday, July 30th. Piper Sandler dropped their price objective 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. Citigroup upgraded shares of Steven Madden from a “neutral” rating to a “buy” rating and upped their price objective for the company from $26.00 to $32.00 in a research note on Thursday, July 17th. Telsey Advisory Group reiterated a “market perform” rating and issued a $26.00 price objective (up previously from $24.00) on shares of Steven Madden in a research note on Wednesday, July 30th. Finally, UBS Group upped their price objective 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, the company has an average rating of “Hold” and a consensus target price of $30.83.

Steven Madden Company 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.