Brokerages Set Steven Madden, Ltd. (NASDAQ:SHOO) Price Target at $44.29

Steven Madden, Ltd. (NASDAQ:SHOO) has received an average recommendation of “Hold” from the seven analysts that are presently covering the company, Marketbeat reports. Six equities research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $44.29.

A number of brokerages have commented on SHOO. StockNews.com upgraded Steven Madden from a “hold” rating to a “buy” rating in a research note on Wednesday, September 18th. Telsey Advisory Group restated a “market perform” rating and set a $44.00 price objective on shares of Steven Madden in a research note on Wednesday, July 31st. Piper Sandler reaffirmed a “neutral” rating and issued a $45.00 target price on shares of Steven Madden in a research report on Friday, August 23rd. Finally, Wedbush reissued a “neutral” rating and set a $41.00 price target on shares of Steven Madden in a report on Wednesday, August 7th.

Steven Madden Stock Down 3.4 %

Shares of Steven Madden stock opened at $46.93 on Friday. The business has a 50-day moving average price of $46.05 and a 200 day moving average price of $43.64. Steven Madden has a fifty-two week low of $31.56 and a fifty-two week high of $50.01. The firm has a market cap of $3.41 billion, a P/E ratio of 19.16 and a beta of 1.08.

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

Steven Madden Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Friday, September 13th were paid a $0.21 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.84 annualized dividend and a dividend yield of 1.79%. Steven Madden’s payout ratio is 34.29%.

Institutional Trading of Steven Madden

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. raised its stake in shares of Steven Madden by 9,166.7% in the 2nd quarter. Blue Trust Inc. now owns 834 shares of the textile maker’s stock worth $35,000 after buying an additional 825 shares in the last quarter. Fidelis Capital Partners LLC bought a new position in shares of Steven Madden during the 1st quarter valued at about $47,000. Exchange Traded Concepts LLC acquired a new position in shares of Steven Madden in the 3rd quarter worth approximately $59,000. GAMMA Investing LLC raised its holdings in shares of Steven Madden by 80.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,329 shares of the textile maker’s stock worth $65,000 after purchasing an additional 593 shares in the last quarter. Finally, EntryPoint Capital LLC acquired a new stake in Steven Madden during the first quarter valued at approximately $81,000. 99.88% of the stock is currently owned by institutional investors.

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.