Steven Madden (NASDAQ:SHOO) Upgraded at StockNews.com

StockNews.com upgraded shares of Steven Madden (NASDAQ:SHOO) from a hold rating to a buy rating in a research report released on Thursday morning.

Several other equities analysts also recently issued reports on the stock. Citigroup increased their price objective on shares of Steven Madden from $43.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Steven Madden in a research note on Thursday, December 5th. 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. Finally, Telsey Advisory Group restated a “market perform” rating and issued a $50.00 target price on shares of Steven Madden in a research report on Wednesday, November 13th. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $45.43.

Steven Madden Stock Up 0.2 %

Shares of Steven Madden stock opened at $42.83 on Thursday. The firm has a market cap of $3.09 billion, a PE ratio of 18.23 and a beta of 1.07. Steven Madden has a twelve month low of $37.99 and a twelve month high of $50.01. The business has a 50-day moving average price of $44.83 and a 200 day moving average price of $44.66.

Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings data on Thursday, November 7th. The textile maker reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.02. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. The business had revenue of $624.68 million during the quarter, compared to analysts’ expectations of $607.89 million. During the same period in the previous year, the business earned $0.88 earnings per share. The business’s revenue was up 13.0% compared to the same quarter last year. On average, sell-side analysts expect that Steven Madden will post 2.66 EPS for the current year.

Steven Madden Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be issued a $0.21 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.84 annualized dividend and a dividend yield of 1.96%. Steven Madden’s dividend payout ratio is presently 35.74%.

Institutional Trading of Steven Madden

Several large investors have recently added to or reduced their stakes in the stock. Mackenzie Financial Corp boosted its position in shares of Steven Madden by 3.1% during the 2nd quarter. Mackenzie Financial Corp now owns 8,232 shares of the textile maker’s stock valued at $348,000 after acquiring an additional 248 shares during the last quarter. Louisiana State Employees Retirement System raised its stake in Steven Madden by 1.2% during the third quarter. Louisiana State Employees Retirement System now owns 35,100 shares of the textile maker’s stock worth $1,720,000 after purchasing an additional 400 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Steven Madden by 1.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 40,141 shares of the textile maker’s stock valued at $1,698,000 after purchasing an additional 484 shares during the last quarter. KBC Group NV grew its stake in shares of Steven Madden by 34.1% in the 3rd quarter. KBC Group NV now owns 2,208 shares of the textile maker’s stock valued at $108,000 after buying an additional 561 shares during the period. Finally, Sei Investments Co. increased its holdings in shares of Steven Madden by 0.5% during the 2nd quarter. Sei Investments Co. now owns 125,678 shares of the textile maker’s stock worth $5,316,000 after buying an additional 590 shares during the last quarter. 99.88% of the stock is currently owned by hedge funds and other 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.