Steven Madden (NASDAQ:SHOO) Sets New 1-Year High at $49.34

Steven Madden, Ltd. (NASDAQ:SHOO) shares reached a new 52-week high during trading on Tuesday . The company traded as high as $49.34 and last traded at $49.34, with a volume of 270038 shares changing hands. The stock had previously closed at $48.99.

Analyst Ratings Changes

A number of research firms recently issued reports on SHOO. Piper Sandler restated a “neutral” rating and set a $45.00 price target on shares of Steven Madden in a research note on Friday, August 23rd. Wedbush restated a “neutral” rating and set a $41.00 price target on shares of Steven Madden in a research note on Wednesday, August 7th. BTIG Research raised their price target on Steven Madden from $50.00 to $53.00 and gave the stock a “buy” rating in a research note on Thursday, June 6th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $44.00 price objective on shares of Steven Madden in a research report on Wednesday, July 31st. Finally, StockNews.com raised Steven Madden from a “hold” rating to a “buy” rating in a report on Wednesday, September 18th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $44.29.

Steven Madden Price Performance

The company has a market capitalization of $3.61 billion, a PE ratio of 20.58 and a beta of 1.08. The stock has a 50-day simple moving average of $44.69 and a 200 day simple moving average of $42.97.

Steven Madden (NASDAQ:SHOO) last issued its quarterly earnings data on Wednesday, July 31st. The textile maker reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.06. The firm had revenue of $523.60 million for the quarter, compared to analysts’ expectations of $515.15 million. Steven Madden had a net margin of 8.36% and a return on equity of 23.49%. The firm’s revenue was up 17.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.47 EPS. As a group, research analysts predict that Steven Madden, Ltd. will post 2.62 EPS for the current fiscal year.

Steven Madden Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Friday, September 13th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date was Friday, September 13th. Steven Madden’s payout ratio is currently 34.71%.

Hedge Funds Weigh In On Steven Madden

Hedge funds have recently bought and sold shares of the stock. Norges Bank purchased a new position in shares of Steven Madden during the fourth quarter valued at approximately $19,846,000. Corient Private Wealth LLC purchased a new position in Steven Madden during the fourth quarter worth about $809,000. First Trust Advisors LP lifted its holdings in shares of Steven Madden by 13.8% during the 4th quarter. First Trust Advisors LP now owns 613,449 shares of the textile maker’s stock worth $25,765,000 after acquiring an additional 74,225 shares during the period. Quantedge Capital Pte Ltd purchased a new position in shares of Steven Madden during the 4th quarter worth about $979,000. Finally, Ranger Investment Management L.P. lifted its holdings in shares of Steven Madden by 36.8% during the 4th quarter. Ranger Investment Management L.P. now owns 560,941 shares of the textile maker’s stock worth $23,560,000 after acquiring an additional 150,852 shares during the period. Hedge funds and other institutional investors own 99.88% of the company’s stock.

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.