Steven Madden, Ltd. $SHOO Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC cut its holdings in Steven Madden, Ltd. (NASDAQ:SHOO) by 51.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 10,602 shares of the textile maker’s stock after selling 11,088 shares during the period. Hsbc Holdings PLC’s holdings in Steven Madden were worth $280,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of SHOO. CX Institutional acquired a new position in shares of Steven Madden in the 1st quarter valued at about $32,000. Caitong International Asset Management Co. Ltd boosted its stake in Steven Madden by 328.8% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 2,161 shares of the textile maker’s stock valued at $58,000 after purchasing an additional 1,657 shares during the period. CWM LLC boosted its stake in Steven Madden by 231.0% during the 1st quarter. CWM LLC now owns 2,277 shares of the textile maker’s stock valued at $61,000 after purchasing an additional 1,589 shares during the period. Covestor Ltd boosted its stake in Steven Madden by 22.9% during the 1st quarter. Covestor Ltd now owns 4,906 shares of the textile maker’s stock valued at $130,000 after purchasing an additional 915 shares during the period. Finally, Gagnon Securities LLC acquired a new position in Steven Madden during the 1st quarter valued at about $140,000. 99.88% of the stock is owned by institutional investors and hedge funds.

Steven Madden Trading Up 3.5%

Shares of NASDAQ:SHOO opened at $30.12 on Friday. The company has a 50 day moving average of $26.40 and a 200-day moving average of $25.78. The firm has a market cap of $2.19 billion, a P/E ratio of 23.72 and a beta of 1.21. Steven Madden, Ltd. has a twelve month low of $19.05 and a twelve month high of $50.01. The company has a current ratio of 2.01, a quick ratio of 1.13 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 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.04). The company had revenue of $556.09 million during the quarter, compared to analyst estimates of $575.83 million. Steven Madden had a return on equity of 18.32% and a net margin of 3.92%.The company’s revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.57 earnings per share. As a group, analysts anticipate that Steven Madden, Ltd. will post 2.66 earnings per share for the current fiscal year.

Steven Madden Dividend Announcement

The business 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. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Friday, September 12th. Steven Madden’s dividend payout ratio is currently 66.14%.

Analyst Upgrades and Downgrades

SHOO has been the subject of a number of analyst reports. Telsey Advisory Group reissued a “market perform” rating and set a $26.00 target price (up from $24.00) on shares of Steven Madden in a research note on Wednesday, July 30th. UBS Group boosted their target price 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. Citigroup raised shares of Steven Madden from a “neutral” rating to a “buy” rating and boosted their target price for the company from $26.00 to $32.00 in a research note on Thursday, July 17th. Needham & Company LLC reissued a “hold” rating on shares of Steven Madden in a research note on Wednesday, July 30th. Finally, Wall Street Zen lowered shares of Steven Madden from a “hold” rating to a “sell” rating in a research note on Saturday, August 16th. One equities research analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $28.80.

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.