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

Shares of Steven Madden, Ltd. (NASDAQ:SHOO) have earned a consensus recommendation of “Hold” from the eight ratings firms that are currently covering the stock, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $40.33.

Several brokerages have recently weighed in on SHOO. Piper Sandler reduced their price target on Steven Madden from $45.00 to $40.00 and set a “neutral” rating on the stock in a report on Tuesday, February 4th. StockNews.com downgraded shares of Steven Madden from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Citigroup reduced their price objective on Steven Madden from $38.00 to $35.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. Loop Capital reduced their price target on Steven Madden from $40.00 to $35.00 and set a “hold” rating for the company in a report on Thursday, February 27th. Finally, Needham & Company LLC restated a “hold” rating on shares of Steven Madden in a research report on Thursday, February 27th.

Steven Madden Stock Performance

Steven Madden stock opened at $25.76 on Tuesday. The firm’s fifty day moving average price is $36.85 and its 200-day moving average price is $42.21. Steven Madden has a fifty-two week low of $24.97 and a fifty-two week high of $50.01. The stock has a market cap of $1.86 billion, a P/E ratio of 10.96 and a beta of 1.06.

Steven Madden (NASDAQ:SHOO) last posted its earnings results on Wednesday, February 26th. The textile maker reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. The company had revenue of $582.32 million during the quarter, compared to analyst estimates of $550.37 million. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. On average, analysts predict that Steven Madden will post 2.66 earnings per share for the current year.

Steven Madden Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Monday, March 10th will be given a dividend of $0.21 per share. The ex-dividend date is Monday, March 10th. This represents a $0.84 annualized dividend and a dividend yield of 3.26%. Steven Madden’s payout ratio is currently 35.74%.

Institutional Investors Weigh In On Steven Madden

Several institutional investors and hedge funds have recently made changes to their positions in SHOO. Central Pacific Bank Trust Division increased its position in Steven Madden by 7.4% during the 4th quarter. Central Pacific Bank Trust Division now owns 4,202 shares of the textile maker’s stock worth $179,000 after purchasing an additional 290 shares in the last quarter. Mariner LLC grew its holdings in Steven Madden by 7.2% during the 4th quarter. Mariner LLC now owns 4,740 shares of the textile maker’s stock worth $202,000 after acquiring an additional 319 shares in the last quarter. Moran Wealth Management LLC increased its holdings in Steven Madden by 1.6% in the fourth quarter. Moran Wealth Management LLC now owns 21,126 shares of the textile maker’s stock valued at $898,000 after buying an additional 325 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of Steven Madden by 20.9% in the 4th quarter. Blue Trust Inc. now owns 1,958 shares of the textile maker’s stock valued at $83,000 after acquiring an additional 339 shares during the last quarter. Finally, Tidal Investments LLC raised its holdings in shares of Steven Madden by 2.4% during the fourth quarter. Tidal Investments LLC now owns 17,784 shares of the textile maker’s stock worth $756,000 after purchasing an additional 409 shares during the period. 99.88% of the stock is currently owned by hedge funds and other institutional investors.

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.