Steven Madden, Ltd. (NASDAQ:SHOO) Receives Consensus Recommendation of “Hold” from Analysts

Steven Madden, Ltd. (NASDAQ:SHOO) has earned an average recommendation of “Hold” from the eight ratings firms that are presently covering the stock, Marketbeat Ratings reports. Seven research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $45.43.

A number of research firms have weighed in on SHOO. Needham & Company LLC reaffirmed a “hold” rating on shares of Steven Madden in a research note on Thursday. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $50.00 target price on shares of Steven Madden in a research report on Wednesday, November 13th. StockNews.com cut Steven Madden from a “buy” rating to a “hold” rating in a report on Sunday, November 24th. Citigroup upped their price target on Steven Madden from $43.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $45.00 price objective on shares of Steven Madden in a research note on Friday, August 23rd.

Hedge Funds Weigh In On Steven Madden

Several hedge funds and other institutional investors have recently bought and sold shares of SHOO. Gladius Capital Management LP acquired a new position in Steven Madden in the 3rd quarter worth $36,000. Blue Trust Inc. lifted its stake in shares of Steven Madden by 9,166.7% in the second quarter. Blue Trust Inc. now owns 834 shares of the textile maker’s stock worth $35,000 after acquiring an additional 825 shares in the last quarter. Exchange Traded Concepts LLC purchased a new position in Steven Madden in the third quarter valued at about $59,000. GAMMA Investing LLC boosted its holdings in Steven Madden by 80.6% in the third quarter. GAMMA Investing LLC now owns 1,329 shares of the textile maker’s stock valued at $65,000 after purchasing an additional 593 shares during the last quarter. Finally, International Assets Investment Management LLC grew its stake in Steven Madden by 4,800.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,911 shares of the textile maker’s stock valued at $94,000 after purchasing an additional 1,872 shares in the last quarter. 99.88% of the stock is owned by institutional investors and hedge funds.

Steven Madden Trading Up 0.6 %

Steven Madden stock opened at $44.74 on Friday. The stock has a fifty day moving average price of $45.77 and a 200 day moving average price of $44.65. Steven Madden has a 52 week low of $37.99 and a 52 week high of $50.01. The firm has a market capitalization of $3.23 billion, a P/E ratio of 19.04 and a beta of 1.07.

Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings results on Thursday, November 7th. The textile maker reported $0.91 EPS for the quarter, beating the consensus estimate of $0.89 by $0.02. The company had revenue of $624.68 million during the quarter, compared to analysts’ expectations of $607.89 million. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. The firm’s revenue was up 13.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.88 EPS. As a group, equities analysts predict that Steven Madden will post 2.66 EPS for the current year.

Steven Madden Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.88%. Steven Madden’s dividend payout ratio (DPR) is currently 35.74%.

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.