Charles Schwab Investment Management Inc. Sells 26,059 Shares of Steven Madden, Ltd. $SHOO

Charles Schwab Investment Management Inc. lessened its holdings in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 2.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,096,621 shares of the textile maker’s stock after selling 26,059 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.51% of Steven Madden worth $29,214,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. CX Institutional bought a new position in shares of Steven Madden during the 1st quarter valued at about $32,000. Quarry LP lifted 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 acquiring an additional 1,110 shares in the last quarter. CWM LLC lifted 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 acquiring an additional 1,589 shares in the last quarter. Mariner LLC increased its position in shares of Steven Madden by 7.2% during the 4th quarter. Mariner LLC now owns 4,740 shares of the textile maker’s stock worth $202,000 after purchasing an additional 319 shares during the last quarter. Finally, PharVision Advisers LLC acquired a new position in shares of Steven Madden during the 4th quarter worth approximately $226,000. Institutional investors own 99.88% of the company’s stock.

Steven Madden Stock Up 0.4%

SHOO stock opened at $27.04 on Wednesday. The stock’s 50 day moving average is $25.21 and its 200-day moving average is $26.49. The firm has a market capitalization of $1.96 billion, a PE ratio of 21.29 and a beta of 1.16. Steven Madden, Ltd. has a twelve month low of $19.05 and a twelve month 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.

Steven Madden (NASDAQ:SHOO) last issued its quarterly earnings results on Wednesday, July 30th. The textile maker reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.04). The business had revenue of $556.09 million for 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% compared to the same quarter last year. During the same quarter last year, the business posted $0.57 earnings per share. Sell-side analysts expect that Steven Madden, Ltd. will post 2.66 EPS for the current fiscal year.

Steven Madden Dividend Announcement

The company 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 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Friday, September 12th. Steven Madden’s dividend payout ratio (DPR) is currently 66.14%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SHOO. Citigroup upgraded Steven Madden from a “neutral” rating to a “buy” rating and upped their target price for the company from $26.00 to $32.00 in a research report on Thursday, July 17th. UBS Group upped their price objective on Steven Madden from $23.00 to $26.00 and gave the stock a “neutral” rating in a research report on Monday, July 28th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $26.00 target price (up previously from $24.00) on shares of Steven Madden in a report on Wednesday, July 30th. Wall Street Zen cut Steven Madden from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Needham & Company LLC reissued a “hold” rating on shares of Steven Madden in a research note on Wednesday, July 30th. One investment analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $28.80.

About Steven Madden

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.