Citigroup Cuts Steven Madden (NASDAQ:SHOO) Price Target to $35.00

Steven Madden (NASDAQ:SHOO) had its price objective decreased by Citigroup from $38.00 to $35.00 in a research note released on Thursday morning,Benzinga reports. Citigroup currently has a neutral rating on the textile maker’s stock.

Other analysts also recently issued research reports about the company. Jefferies Financial Group reaffirmed a “hold” rating on shares of Steven Madden in a research note on Monday, February 3rd. Piper Sandler cut their price objective on shares of Steven Madden from $45.00 to $40.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 4th. StockNews.com downgraded shares of Steven Madden from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Needham & Company LLC reissued a “hold” rating on shares of Steven Madden in a research note on Thursday. Finally, Telsey Advisory Group decreased their price objective on shares of Steven Madden from $44.00 to $38.00 and set a “market perform” rating for the company in a report on Thursday. Eight analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $40.33.

Steven Madden Price Performance

Shares of NASDAQ SHOO opened at $32.79 on Thursday. Steven Madden has a 1-year low of $32.31 and a 1-year high of $50.01. The firm has a market capitalization of $2.37 billion, a PE ratio of 13.95 and a beta of 1.07. The business’s fifty day moving average price is $40.07 and its two-hundred day moving average price is $43.50.

Steven Madden (NASDAQ:SHOO) last posted its earnings results on Wednesday, February 26th. The textile maker reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. The firm had revenue of $582.32 million during the quarter, compared to analyst estimates of $550.37 million. Equities research analysts expect that Steven Madden will post 2.66 earnings per share for the current fiscal year.

Steven Madden Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Monday, March 10th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.56%. Steven Madden’s payout ratio is currently 35.74%.

Institutional Trading of Steven Madden

Large investors have recently added to or reduced their stakes in the business. Central Pacific Bank Trust Division increased its holdings in shares of Steven Madden by 7.4% in the fourth quarter. Central Pacific Bank Trust Division now owns 4,202 shares of the textile maker’s stock valued at $179,000 after buying an additional 290 shares in the last quarter. Mariner LLC raised its position in shares of Steven Madden by 7.2% during the fourth quarter. Mariner LLC now owns 4,740 shares of the textile maker’s stock worth $202,000 after purchasing an additional 319 shares during the period. Moran Wealth Management LLC lifted its holdings in shares of Steven Madden by 1.6% during the fourth quarter. Moran Wealth Management LLC now owns 21,126 shares of the textile maker’s stock valued at $898,000 after purchasing an additional 325 shares during the last quarter. Blue Trust Inc. boosted its position in shares of Steven Madden by 20.9% in the 4th quarter. Blue Trust Inc. now owns 1,958 shares of the textile maker’s stock valued at $83,000 after purchasing an additional 339 shares during the period. Finally, Louisiana State Employees Retirement System increased its stake in Steven Madden by 1.2% in the 3rd 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 in the last quarter. 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.