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

Steven Madden, Ltd. (NASDAQ:SHOO) has been assigned an average recommendation of “Hold” from the seven brokerages that are currently covering the stock, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $45.43.

Several research analysts recently issued reports on the stock. Citigroup increased their target price on shares of Steven Madden from $43.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. StockNews.com raised Steven Madden from a “hold” rating to a “buy” rating in a research report on Saturday. Wedbush reiterated a “neutral” rating and issued a $41.00 price target on shares of Steven Madden in a report on Wednesday, August 7th. Piper Sandler reaffirmed a “neutral” rating and set a $45.00 target price on shares of Steven Madden in a research report on Friday, August 23rd. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $50.00 price target on shares of Steven Madden in a research report on Wednesday, November 13th.

Institutional Investors Weigh In On Steven Madden

Several large investors have recently made changes to their positions in the business. FMR LLC grew its position in Steven Madden by 8,180.4% during the third 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 period. Weiss Asset Management LP purchased a new stake in shares of Steven Madden during the 3rd quarter worth approximately $12,558,000. Capital Research Global Investors raised its holdings in shares of Steven Madden by 8.6% in the 1st quarter. Capital Research Global Investors now owns 1,856,001 shares of the textile maker’s stock worth $78,472,000 after purchasing an additional 146,324 shares during the period. Edgestream Partners L.P. purchased a new position in Steven Madden in the first quarter valued at approximately $5,834,000. Finally, Nicholas Investment Partners LP bought a new position in Steven Madden during the second quarter valued at $4,863,000. 99.88% of the stock is owned by hedge funds and other institutional investors.

Steven Madden Stock Performance

Shares of NASDAQ SHOO opened at $43.23 on Wednesday. The company’s 50 day moving average price is $46.43 and its 200-day moving average price is $44.36. Steven Madden has a 52-week low of $35.64 and a 52-week high of $50.01. The company has a market capitalization of $3.12 billion, a P/E ratio of 18.40 and a beta of 1.08.

Steven Madden (NASDAQ:SHOO) last released its earnings results on Thursday, November 7th. The textile maker reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.02. The business had revenue of $624.68 million for the quarter, compared to analyst estimates of $607.89 million. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. Steven Madden’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.88 earnings per share. Analysts forecast that Steven Madden will post 2.65 earnings per share for the current year.

Steven Madden Dividend Announcement

The firm 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 dividend of $0.21 per share. The ex-dividend date is Friday, December 13th. This represents a $0.84 dividend on an annualized basis and a yield of 1.94%. 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.