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

Steven Madden, Ltd. (NASDAQ:SHOO) has been given a consensus recommendation of “Hold” by the eight brokerages that are covering the company, MarketBeat.com reports. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $45.43.

A number of brokerages have recently issued reports on SHOO. Citigroup boosted their price target 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. Telsey Advisory Group reiterated a “market perform” rating and set a $50.00 target price on shares of Steven Madden in a research report on Wednesday, November 13th. StockNews.com cut Steven Madden from a “buy” rating to a “hold” rating in a report on Sunday, November 24th. Needham & Company LLC reaffirmed a “hold” rating on shares of Steven Madden in a report on Thursday. Finally, Piper Sandler reissued a “neutral” rating and issued a $45.00 target price on shares of Steven Madden in a report on Friday, August 23rd.

Steven Madden Trading Up 0.6 %

Steven Madden stock opened at $44.74 on Friday. The stock has a market capitalization of $3.23 billion, a price-to-earnings ratio of 19.04 and a beta of 1.07. The stock has a 50 day moving average of $45.77 and a two-hundred day moving average of $44.65. Steven Madden has a twelve month low of $37.99 and a twelve month high of $50.01.

Steven Madden (NASDAQ:SHOO) last issued its quarterly earnings results on Thursday, November 7th. The textile maker reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.02. The firm had revenue of $624.68 million during the quarter, compared to the consensus estimate of $607.89 million. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. The company’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same period last year, the company earned $0.88 earnings per share. Equities analysts predict that Steven Madden will post 2.66 earnings per share for the current year.

Steven Madden Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend is Friday, December 13th. Steven Madden’s dividend payout ratio (DPR) is 35.74%.

Hedge Funds Weigh In On Steven Madden

Several hedge funds have recently added to or reduced their stakes in SHOO. State Street Corp increased its position in Steven Madden by 1.7% during the third quarter. State Street Corp now owns 2,756,075 shares of the textile maker’s stock worth $135,020,000 after buying an additional 47,017 shares in the last quarter. Geode Capital Management LLC increased its position in Steven Madden by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,710,492 shares of the textile maker’s stock worth $83,812,000 after purchasing an additional 49,075 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Steven Madden by 3.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,096,777 shares of the textile maker’s stock valued at $53,731,000 after purchasing an additional 32,696 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Steven Madden by 0.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 873,682 shares of the textile maker’s stock valued at $36,957,000 after purchasing an additional 5,451 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its stake in shares of Steven Madden by 0.6% during the 3rd quarter. Fisher Asset Management LLC now owns 728,674 shares of the textile maker’s stock worth $35,698,000 after purchasing an additional 4,108 shares during the last quarter. 99.88% of the stock is currently owned by hedge funds and other 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.