Steven Madden, Ltd. (NASDAQ:SHOO) Receives Average Rating of “Hold” from Analysts

Shares of Steven Madden, Ltd. (NASDAQ:SHOO) have been assigned a consensus recommendation of “Hold” from the seven ratings firms that are presently covering the company, Marketbeat Ratings reports. Six analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $45.43.

SHOO has been the topic of several recent research reports. Wedbush restated a “neutral” rating and set a $41.00 target price on shares of Steven Madden in a report on Wednesday, August 7th. Piper Sandler reissued a “neutral” rating and issued a $45.00 price objective on shares of Steven Madden in a research note on Friday, August 23rd. StockNews.com cut Steven Madden from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Citigroup lifted their price target on shares of Steven Madden from $43.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $50.00 price objective on shares of Steven Madden in a report on Thursday, November 7th.

Steven Madden Stock Performance

Shares of NASDAQ SHOO opened at $44.97 on Wednesday. The business has a 50 day simple moving average of $46.41 and a 200 day simple moving average of $44.28. Steven Madden has a 52 week low of $33.07 and a 52 week high of $50.01. The stock has a market cap of $3.27 billion, a price-to-earnings ratio of 19.14 and a beta of 1.08.

Steven Madden (NASDAQ:SHOO) last posted its earnings results on Thursday, November 7th. The textile maker reported $0.91 EPS for the quarter, topping the consensus estimate of $0.89 by $0.02. The company had revenue of $624.68 million during the quarter, compared to the consensus estimate of $607.89 million. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.88 earnings per share. On average, analysts predict that Steven Madden will post 2.65 EPS for the current year.

Steven Madden Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend is Friday, December 13th. Steven Madden’s dividend payout ratio (DPR) is presently 35.74%.

Institutional Trading of Steven Madden

A number of institutional investors and hedge funds have recently modified their holdings of SHOO. Blue Trust Inc. boosted its position in shares of Steven Madden by 9,166.7% during the 2nd quarter. Blue Trust Inc. now owns 834 shares of the textile maker’s stock valued at $35,000 after acquiring an additional 825 shares in the last quarter. Gladius Capital Management LP acquired a new stake in Steven Madden during the third quarter valued at approximately $36,000. Exchange Traded Concepts LLC acquired a new stake in Steven Madden during the third quarter valued at approximately $59,000. GAMMA Investing LLC grew its stake in shares of Steven Madden by 80.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,329 shares of the textile maker’s stock valued at $65,000 after purchasing an additional 593 shares during the period. Finally, EntryPoint Capital LLC acquired a new position in shares of Steven Madden in the 1st quarter worth approximately $81,000. 99.88% of the stock is currently owned by institutional investors.

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.