Steven Madden (NASDAQ:SHOO) Sets New 1-Year High at $49.34

Steven Madden, Ltd. (NASDAQ:SHOO) reached a new 52-week high during trading on Tuesday . The stock traded as high as $49.34 and last traded at $49.34, with a volume of 270038 shares changing hands. The stock had previously closed at $48.99.

Analyst Upgrades and Downgrades

SHOO has been the topic of several research reports. BTIG Research raised their price target on shares of Steven Madden from $50.00 to $53.00 and gave the company a “buy” rating in a report on Thursday, June 6th. StockNews.com upgraded shares of Steven Madden from a “hold” rating to a “buy” rating in a report on Wednesday, September 18th. Telsey Advisory Group reiterated a “market perform” rating and set a $44.00 price objective on shares of Steven Madden in a research note on Wednesday, July 31st. Wedbush reiterated a “neutral” rating and set a $41.00 price objective on shares of Steven Madden in a research note on Wednesday, August 7th. Finally, Piper Sandler reiterated a “neutral” rating and set a $45.00 price objective on shares of Steven Madden in a research note on Friday, August 23rd. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Steven Madden presently has an average rating of “Hold” and a consensus price target of $44.29.

Steven Madden Price Performance

The firm has a market cap of $3.61 billion, a price-to-earnings ratio of 20.58 and a beta of 1.08. The business’s 50-day moving average price is $44.69 and its two-hundred day moving average price is $42.97.

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

Steven Madden Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Friday, September 13th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date was Friday, September 13th. Steven Madden’s dividend payout ratio is presently 34.71%.

Hedge Funds Weigh In On Steven Madden

Hedge funds have recently added to or reduced their stakes in the business. Blue Trust Inc. lifted its stake in Steven Madden by 9,166.7% in the second quarter. Blue Trust Inc. now owns 834 shares of the textile maker’s stock valued at $35,000 after buying an additional 825 shares during the last quarter. Fidelis Capital Partners LLC bought a new stake in Steven Madden in the first quarter valued at $47,000. EntryPoint Capital LLC bought a new stake in Steven Madden in the first quarter valued at $81,000. nVerses Capital LLC lifted its stake in Steven Madden by 3,600.0% in the second quarter. nVerses Capital LLC now owns 3,700 shares of the textile maker’s stock valued at $157,000 after buying an additional 3,600 shares during the last quarter. Finally, Central Pacific Bank Trust Division bought a new stake in shares of Steven Madden during the first quarter valued at about $170,000. Institutional investors and hedge funds own 99.88% of the company’s stock.

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.