Steven Madden (NASDAQ:SHOO) Stock Passes Above Two Hundred Day Moving Average of $42.04

Steven Madden, Ltd. (NASDAQ:SHOO) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $42.04 and traded as high as $43.71. Steven Madden shares last traded at $43.04, with a volume of 473,016 shares.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on SHOO shares. Wedbush reaffirmed a “neutral” rating and set a $41.00 price target on shares of Steven Madden in a research report on Friday, May 17th. BTIG Research lifted their price target on shares of Steven Madden from $50.00 to $53.00 and gave the company a “buy” rating in a research report on Thursday, June 6th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $44.00 price target on shares of Steven Madden in a research report on Friday, April 26th. Citigroup lifted their price target on shares of Steven Madden from $41.00 to $43.00 and gave the company a “neutral” rating in a research report on Thursday, February 29th. Finally, StockNews.com raised shares of Steven Madden from a “hold” rating to a “buy” rating in a research report on Thursday, February 29th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $43.38.

Steven Madden Price Performance

The business’s 50-day moving average price is $42.25 and its 200 day moving average price is $42.04. The firm has a market capitalization of $3.16 billion, a price-to-earnings ratio of 17.79 and a beta of 1.12.

Steven Madden (NASDAQ:SHOO) last posted its earnings results on Wednesday, May 1st. The textile maker reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.09. The business had revenue of $552.38 million for the quarter, compared to analysts’ expectations of $525.04 million. Steven Madden had a net margin of 8.65% and a return on equity of 22.68%. The business’s revenue for the quarter was up 19.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.50 earnings per share. As a group, sell-side analysts expect that Steven Madden, Ltd. will post 2.62 earnings per share for the current year.

Steven Madden Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Monday, June 10th were issued a $0.21 dividend. The ex-dividend date of this dividend was Monday, June 10th. This represents a $0.84 annualized dividend and a yield of 1.95%. Steven Madden’s dividend payout ratio is presently 34.71%.

Insider Activity at Steven Madden

In related news, Director Rose Peabody Lynch sold 1,600 shares of the company’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $44.41, for a total value of $71,056.00. Following the sale, the director now directly owns 21,303 shares of the company’s stock, valued at $946,066.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Steven Madden news, insider Karla Frieders sold 10,000 shares of the stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $44.91, for a total transaction of $449,100.00. Following the sale, the insider now directly owns 86,658 shares of the company’s stock, valued at $3,891,810.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Rose Peabody Lynch sold 1,600 shares of the stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $44.41, for a total transaction of $71,056.00. Following the sale, the director now directly owns 21,303 shares in the company, valued at $946,066.23. The disclosure for this sale can be found here. Insiders have sold 14,600 shares of company stock valued at $651,586 over the last ninety days. Corporate insiders own 2.08% of the company’s stock.

Institutional Trading of Steven Madden

A number of institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC bought a new position in shares of Steven Madden during the fourth quarter worth about $32,000. Fidelis Capital Partners LLC bought a new position in shares of Steven Madden during the first quarter worth about $47,000. International Assets Investment Management LLC grew its position in shares of Steven Madden by 4,100.0% during the fourth quarter. International Assets Investment Management LLC now owns 1,638 shares of the textile maker’s stock worth $69,000 after acquiring an additional 1,599 shares during the last quarter. EntryPoint Capital LLC bought a new position in shares of Steven Madden during the first quarter worth about $81,000. Finally, Central Pacific Bank Trust Division bought a new position in shares of Steven Madden during the first quarter worth about $170,000. 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.