Steven Madden, Ltd. (NASDAQ:SHOO) Receives $40.33 Average Price Target from Brokerages

Steven Madden, Ltd. (NASDAQ:SHOO) has been assigned an average recommendation of “Hold” from the eight analysts that are presently covering the firm, MarketBeat reports. Seven research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $40.33.

A number of equities research analysts have issued reports on the stock. Piper Sandler cut their target price on shares of Steven Madden from $45.00 to $40.00 and set a “neutral” rating for the company in a research report on Tuesday, February 4th. Citigroup cut their target price on shares of Steven Madden from $38.00 to $35.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. Jefferies Financial Group restated a “hold” rating on shares of Steven Madden in a report on Monday, February 3rd. StockNews.com downgraded shares of Steven Madden from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Finally, Needham & Company LLC restated a “hold” rating on shares of Steven Madden in a report on Thursday, February 27th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SHOO. Pacer Advisors Inc. acquired a new position in Steven Madden in the 4th quarter valued at $72,795,000. First Trust Advisors LP grew its stake in Steven Madden by 36.9% in the 4th quarter. First Trust Advisors LP now owns 2,002,228 shares of the textile maker’s stock valued at $85,135,000 after buying an additional 539,738 shares during the last quarter. FMR LLC grew its stake in Steven Madden by 8,180.4% in the 3rd quarter. FMR LLC now owns 535,081 shares of the textile maker’s stock valued at $26,214,000 after buying an additional 528,619 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Steven Madden in the 4th quarter valued at $13,652,000. Finally, Weiss Asset Management LP acquired a new position in Steven Madden in the 3rd quarter valued at $12,558,000. 99.88% of the stock is currently owned by institutional investors and hedge funds.

Steven Madden Stock Up 1.9 %

SHOO stock opened at $26.00 on Tuesday. Steven Madden has a 12-month low of $24.97 and a 12-month high of $50.01. The company has a market cap of $1.88 billion, a price-to-earnings ratio of 11.06 and a beta of 1.06. The company has a 50 day moving average of $35.91 and a two-hundred day moving average of $41.85.

Steven Madden (NASDAQ:SHOO) last released its earnings results on Wednesday, February 26th. The textile maker reported $0.55 earnings per share (EPS) for the quarter, topping 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 company had revenue of $582.32 million during the quarter, compared to the consensus estimate of $550.37 million. On average, research analysts anticipate that Steven Madden will post 2.66 EPS for the current year.

Steven Madden Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Monday, March 10th will be paid 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 yield of 3.23%. Steven Madden’s payout ratio is presently 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.