American Century Companies Inc. Boosts Stake in Steven Madden, Ltd. $SHOO

American Century Companies Inc. lifted its holdings in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 74.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 130,079 shares of the textile maker’s stock after purchasing an additional 55,300 shares during the quarter. American Century Companies Inc. owned about 0.18% of Steven Madden worth $3,465,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CX Institutional acquired a new position in Steven Madden in the first quarter valued at about $32,000. Caitong International Asset Management Co. Ltd increased its position in shares of Steven Madden by 328.8% during the first quarter. Caitong International Asset Management Co. Ltd now owns 2,161 shares of the textile maker’s stock valued at $58,000 after acquiring an additional 1,657 shares during the last quarter. CWM LLC raised its stake in shares of 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 during the period. Covestor Ltd lifted its holdings in shares of Steven Madden by 22.9% in the 1st quarter. Covestor Ltd now owns 4,906 shares of the textile maker’s stock worth $130,000 after acquiring an additional 915 shares during the last quarter. Finally, Gagnon Securities LLC acquired a new position in shares of Steven Madden in the 1st quarter worth approximately $140,000. 99.88% of the stock is owned by institutional investors and hedge funds.

Steven Madden Trading Down 0.5%

NASDAQ:SHOO opened at $29.04 on Friday. Steven Madden, Ltd. has a 12-month low of $19.05 and a 12-month high of $50.01. The firm has a market cap of $2.11 billion, a PE ratio of 22.87 and a beta of 1.16. The company has a current ratio of 2.01, a quick ratio of 1.13 and a debt-to-equity ratio of 0.33. The stock has a fifty day moving average price of $25.94 and a 200 day moving average price of $25.97.

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

Steven Madden Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 23rd. Investors 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 dividend on an annualized basis and a yield of 2.9%. Steven Madden’s payout ratio is currently 66.14%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SHOO. UBS Group lifted their target price on shares of Steven Madden from $23.00 to $26.00 and gave the company a “neutral” rating in a report on Monday, July 28th. Telsey Advisory Group restated a “market perform” rating and set a $26.00 price target (up from $24.00) on shares of Steven Madden in a research report on Wednesday, July 30th. Wall Street Zen downgraded Steven Madden from a “hold” rating to a “sell” rating in a report on Saturday, August 16th. Needham & Company LLC reissued a “hold” rating on shares of Steven Madden in a research note on Wednesday, July 30th. Finally, Citigroup upgraded Steven Madden from a “neutral” rating to a “buy” rating and raised their target price for the company from $26.00 to $32.00 in a report 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.com, Steven Madden presently has a consensus rating of “Hold” and an average target price of $28.80.

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.