Steven Madden, Ltd. (NASDAQ:SHOO) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Steven Madden, Ltd. (NASDAQ:SHOO) have been assigned a consensus rating of “Hold” from the eight ratings firms that are presently covering the stock, MarketBeat reports. Seven investment 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 analysts that have covered the stock in the last year is $45.43.

Several research analysts recently commented on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Steven Madden in a research note on Thursday, December 5th. Telsey Advisory Group restated a “market perform” rating and set a $50.00 price objective on shares of Steven Madden in a report on Wednesday, November 13th. StockNews.com lowered shares of Steven Madden from a “buy” rating to a “hold” rating in a report on Friday, December 27th. Finally, Citigroup boosted their price target on Steven Madden from $43.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th.

Steven Madden Stock Performance

NASDAQ:SHOO opened at $42.52 on Thursday. The firm has a market capitalization of $3.07 billion, a PE ratio of 18.09 and a beta of 1.07. The stock’s fifty day moving average is $44.02 and its 200 day moving average is $44.57. Steven Madden has a fifty-two week low of $37.99 and a fifty-two week high of $50.01.

Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings data on Thursday, November 7th. The textile maker reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.02. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. The company had revenue of $624.68 million for the quarter, compared to analyst estimates of $607.89 million. During the same period in the prior year, the company posted $0.88 EPS. The firm’s revenue for the quarter was up 13.0% on a year-over-year basis. Equities analysts forecast that Steven Madden will post 2.66 EPS for the current year.

Steven Madden Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were issued a dividend of $0.21 per share. The ex-dividend date was Friday, December 13th. This represents a $0.84 annualized dividend and a dividend yield of 1.98%. Steven Madden’s dividend payout ratio is presently 35.74%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. grew its position in Steven Madden by 5.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 462,096 shares of the textile maker’s stock worth $22,638,000 after purchasing an additional 21,942 shares during the last quarter. Tidal Investments LLC grew its holdings in shares of Steven Madden by 15.1% during the third quarter. Tidal Investments LLC now owns 17,375 shares of the textile maker’s stock valued at $851,000 after buying an additional 2,278 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Steven Madden by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,710,492 shares of the textile maker’s stock valued at $83,812,000 after acquiring an additional 49,075 shares during the period. Barclays PLC raised its stake in Steven Madden by 286.9% in the 3rd quarter. Barclays PLC now owns 139,206 shares of the textile maker’s stock worth $6,819,000 after acquiring an additional 103,226 shares during the last quarter. Finally, Weiss Asset Management LP acquired a new stake in Steven Madden during the 3rd quarter worth about $12,558,000. 99.88% of the stock is owned by institutional investors and hedge funds.

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.