Steven Madden, Ltd. $SHOO Holdings Raised by Vanguard Group Inc.

Vanguard Group Inc. lifted its stake in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 2.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,316,124 shares of the textile maker’s stock after purchasing an additional 218,785 shares during the quarter. Vanguard Group Inc. owned about 11.46% of Steven Madden worth $221,542,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Jefferies Financial Group Inc. acquired a new position in Steven Madden during the first quarter worth about $303,000. XTX Topco Ltd acquired a new stake in shares of Steven Madden during the 1st quarter valued at about $856,000. Federated Hermes Inc. lifted its holdings in shares of Steven Madden by 270,516.2% during the 1st quarter. Federated Hermes Inc. now owns 533,114 shares of the textile maker’s stock valued at $14,202,000 after buying an additional 532,917 shares during the last quarter. Mackenzie Financial Corp lifted its holdings in shares of Steven Madden by 20.4% during the 1st 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. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Steven Madden by 12.5% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,691 shares of the textile maker’s stock worth $711,000 after purchasing an additional 2,975 shares during the last quarter. 99.88% of the stock is owned by institutional investors and hedge funds.

Steven Madden Stock Performance

Shares of NASDAQ SHOO opened at $27.04 on Wednesday. The stock has a 50 day moving average price of $25.21 and a 200 day moving average price of $26.49. Steven Madden, Ltd. has a 52 week low of $19.05 and a 52 week high of $50.01. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.13 and a current ratio of 2.01. The stock has a market capitalization of $1.96 billion, a PE ratio of 21.29 and a beta of 1.16.

Steven Madden (NASDAQ:SHOO) last released its quarterly earnings data 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 in the previous year, the business earned $0.57 earnings per share. The business’s quarterly revenue was up 6.8% on a year-over-year basis. Analysts predict that Steven Madden, Ltd. will post 2.66 earnings per share for the current fiscal year.

Steven Madden Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 23rd. Stockholders of record on Friday, September 12th will be paid a $0.21 dividend. The ex-dividend date is Friday, September 12th. This represents a $0.84 annualized dividend and a dividend yield of 3.1%. Steven Madden’s dividend payout ratio (DPR) is presently 66.14%.

Wall Street Analysts Forecast Growth

SHOO has been the subject of several analyst reports. Wall Street Zen lowered Steven Madden from a “hold” rating to a “sell” rating in a report on Saturday. Needham & Company LLC restated a “hold” rating on shares of Steven Madden in a research report on Wednesday, July 30th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $26.00 price target (up previously from $24.00) on shares of Steven Madden in a research note on Wednesday, July 30th. UBS Group boosted their price target on Steven Madden from $23.00 to $26.00 and gave the company a “neutral” rating in a research note on Monday, July 28th. Finally, Citigroup raised Steven Madden from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $26.00 to $32.00 in a research note on Thursday, July 17th. One investment analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average 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.