Brevan Howard Capital Management LP Acquires New Holdings in Steven Madden, Ltd. (NASDAQ:SHOO)

Brevan Howard Capital Management LP bought a new stake in Steven Madden, Ltd. (NASDAQ:SHOO) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 10,386 shares of the textile maker’s stock, valued at approximately $442,000.

Several other large investors have also recently bought and sold shares of SHOO. Vanguard Group Inc. increased its stake in shares of Steven Madden by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 8,097,339 shares of the textile maker’s stock valued at $344,299,000 after acquiring an additional 54,877 shares during the period. First Trust Advisors LP raised its stake in shares of Steven Madden by 36.9% in the 4th quarter. First Trust Advisors LP now owns 2,002,228 shares of the textile maker’s stock worth $85,135,000 after buying an additional 539,738 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Steven Madden by 8.6% in the fourth quarter. Invesco Ltd. now owns 1,745,456 shares of the textile maker’s stock valued at $74,217,000 after buying an additional 138,065 shares during the period. Pacer Advisors Inc. bought a new position in Steven Madden during the fourth quarter valued at about $72,795,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in Steven Madden by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,122,680 shares of the textile maker’s stock worth $47,736,000 after acquiring an additional 25,903 shares during the period. Institutional investors and hedge funds own 99.88% of the company’s stock.

Steven Madden Stock Down 3.6 %

Shares of Steven Madden stock opened at $22.98 on Friday. The stock has a market cap of $1.67 billion, a PE ratio of 9.78 and a beta of 1.04. Steven Madden, Ltd. has a 12 month low of $19.05 and a 12 month high of $50.01. The business has a fifty day simple moving average of $23.61 and a 200-day simple moving average of $35.52.

Steven Madden (NASDAQ:SHOO) last released its earnings results on Wednesday, May 7th. The textile maker reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.14. The company had revenue of $551.38 million for the quarter, compared to analysts’ expectations of $557.81 million. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. The business’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.65 EPS. Analysts expect that Steven Madden, Ltd. will post 2.66 EPS for the current fiscal year.

Steven Madden Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Monday, June 9th will be given a $0.21 dividend. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a yield of 3.66%. Steven Madden’s payout ratio is 35.74%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Needham & Company LLC reissued a “hold” rating on shares of Steven Madden in a report on Friday, May 2nd. UBS Group raised their target price on shares of Steven Madden from $22.00 to $23.00 and gave the stock a “neutral” rating in a report on Thursday. StockNews.com cut Steven Madden from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Citigroup cut their price objective on Steven Madden from $35.00 to $23.00 and set a “neutral” rating for the company in a research report on Thursday, May 1st. Finally, Telsey Advisory Group restated a “market perform” rating and issued a $24.00 target price on shares of Steven Madden in a report on Thursday. Nine research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Steven Madden currently has a consensus rating of “Hold” and a consensus price target of $32.00.

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.