Steven Madden (NASDAQ:SHOO) Now Covered by Analysts at Needham & Company LLC

Needham & Company LLC started coverage on shares of Steven Madden (NASDAQ:SHOO) in a research report sent to investors on Friday, Marketbeat reports. The brokerage issued a hold rating on the textile maker’s stock.

SHOO has been the topic of a number of other research reports. Citigroup increased their target price on Steven Madden from $43.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Wedbush reiterated a “neutral” rating and set a $41.00 price objective on shares of Steven Madden in a research report on Wednesday, August 7th. Piper Sandler restated a “neutral” rating and issued a $45.00 target price on shares of Steven Madden in a report on Friday, August 23rd. StockNews.com upgraded shares of Steven Madden from a “hold” rating to a “buy” rating in a report on Saturday, November 16th. Finally, Telsey Advisory Group reissued a “market perform” rating and set a $50.00 price objective on shares of Steven Madden in a research note on Wednesday, November 13th. Eight research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $45.43.

Steven Madden Price Performance

SHOO opened at $45.41 on Friday. Steven Madden has a 1-year low of $36.56 and a 1-year high of $50.01. The stock has a market cap of $3.28 billion, a P/E ratio of 19.32 and a beta of 1.08. The stock’s 50 day simple moving average is $46.28 and its 200 day simple moving average is $44.47.

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

Steven Madden Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.84 annualized dividend and a dividend yield of 1.85%. Steven Madden’s dividend payout ratio is presently 35.74%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SHOO. Gladius Capital Management LP purchased a new position in shares of Steven Madden in the 3rd quarter worth about $36,000. Blue Trust Inc. lifted its position in Steven Madden by 9,166.7% during the second quarter. Blue Trust Inc. now owns 834 shares of the textile maker’s stock valued at $35,000 after buying an additional 825 shares in the last quarter. Exchange Traded Concepts LLC purchased a new stake in Steven Madden during the third quarter worth approximately $59,000. GAMMA Investing LLC increased its position in shares of Steven Madden by 80.6% in the third quarter. GAMMA Investing LLC now owns 1,329 shares of the textile maker’s stock worth $65,000 after acquiring an additional 593 shares in the last quarter. Finally, EntryPoint Capital LLC purchased a new position in shares of Steven Madden in the 1st quarter valued at $81,000. Institutional investors and hedge funds own 99.88% of the company’s stock.

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.