Steven Madden (NASDAQ:SHOO) Downgraded by StockNews.com to Hold

StockNews.com lowered shares of Steven Madden (NASDAQ:SHOO) from a buy rating to a hold rating in a research note issued to investors on Tuesday.

Several other equities analysts also recently weighed in on the company. Telsey Advisory Group restated a market perform rating and set a $44.00 price target on shares of Steven Madden in a report on Wednesday, July 31st. Piper Sandler restated a neutral rating and set a $45.00 price target on shares of Steven Madden in a report on Friday, August 23rd. BTIG Research raised their price target on Steven Madden from $50.00 to $53.00 and gave the company a buy rating in a report on Thursday, June 6th. Finally, Wedbush restated a neutral rating and set a $41.00 price target on shares of Steven Madden in a report on Wednesday, August 7th. Seven equities 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, the company has an average rating of Hold and a consensus price target of $44.29.

Steven Madden Trading Down 1.6 %

SHOO opened at $44.46 on Tuesday. The stock has a fifty day simple moving average of $43.45 and a two-hundred day simple moving average of $42.47. The company has a market cap of $3.26 billion, a price-to-earnings ratio of 18.37 and a beta of 1.09. Steven Madden has a 12-month low of $30.35 and a 12-month high of $47.24.

Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings data on Wednesday, July 31st. The textile maker reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.06. The business had revenue of $523.60 million during the quarter, compared to the consensus estimate of $515.15 million. Steven Madden had a return on equity of 23.49% and a net margin of 8.36%. The firm’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.47 earnings per share. On average, analysts predict that Steven Madden will post 2.62 EPS for the current year.

Steven Madden Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Friday, September 13th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.84 annualized dividend and a dividend yield of 1.89%. Steven Madden’s dividend payout ratio (DPR) is presently 34.71%.

Insider Activity at Steven Madden

In other Steven Madden news, insider Karla Frieders sold 10,000 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $44.91, for a total value of $449,100.00. Following the transaction, the insider now directly owns 86,658 shares of the company’s stock, valued at $3,891,810.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Steven Madden news, insider Karla Frieders sold 10,000 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $44.91, for a total transaction of $449,100.00. Following the completion of the sale, the insider now directly owns 86,658 shares in the company, valued at approximately $3,891,810.78. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Rose Peabody Lynch sold 1,600 shares of the business’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $44.41, for a total value of $71,056.00. Following the sale, the director now owns 21,303 shares of the company’s stock, valued at $946,066.23. The disclosure for this sale can be found here. Insiders have sold 14,600 shares of company stock valued at $651,586 over the last ninety days. Insiders own 2.08% of the company’s stock.

Institutional Investors Weigh In On Steven Madden

Large investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its stake in Steven Madden by 2.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,024,238 shares of the textile maker’s stock worth $43,018,000 after acquiring an additional 26,177 shares during the period. Seven Eight Capital LP lifted its stake in shares of Steven Madden by 902.5% during the 1st quarter. Seven Eight Capital LP now owns 49,265 shares of the textile maker’s stock valued at $2,083,000 after buying an additional 44,351 shares in the last quarter. Harbor Capital Advisors Inc. boosted its holdings in Steven Madden by 273.4% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 48,840 shares of the textile maker’s stock worth $2,066,000 after buying an additional 35,761 shares during the period. Corient Private Wealth LLC bought a new position in Steven Madden in the 4th quarter worth $809,000. Finally, Quantbot Technologies LP purchased a new stake in Steven Madden in the 1st quarter worth $1,968,000. 99.88% of the stock is currently owned by institutional investors.

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.