Steven Madden (NASDAQ:SHOO) Sets New 12-Month High at $48.79

Steven Madden, Ltd. (NASDAQ:SHOO) hit a new 52-week high on Tuesday . The company traded as high as $48.79 and last traded at $48.74, with a volume of 52687 shares. The stock had previously closed at $48.11.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Piper Sandler reissued a “neutral” rating and issued a $45.00 price target on shares of Steven Madden in a report on Friday, August 23rd. Wedbush reaffirmed a “neutral” rating and issued a $41.00 target price on shares of Steven Madden in a research note on Wednesday, August 7th. BTIG Research boosted their price target on shares of Steven Madden from $50.00 to $53.00 and gave the stock a “buy” rating in a research note on Thursday, June 6th. StockNews.com upgraded shares of Steven Madden from a “hold” rating to a “buy” rating in a research report on Wednesday, September 18th. Finally, Telsey Advisory Group reiterated a “market perform” rating and issued a $44.00 price objective on shares of Steven Madden in a report on Wednesday, July 31st. Six analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $44.29.

Steven Madden Trading Up 1.4 %

The stock has a market capitalization of $3.58 billion, a price-to-earnings ratio of 19.88 and a beta of 1.08. The stock’s 50 day moving average is $44.26 and its two-hundred day moving average is $42.73.

Steven Madden (NASDAQ:SHOO) last issued its quarterly earnings results on Wednesday, July 31st. The textile maker reported $0.57 EPS for the quarter, beating the consensus estimate of $0.51 by $0.06. The firm had revenue of $523.60 million during the quarter, compared to analysts’ expectations of $515.15 million. Steven Madden had a return on equity of 23.49% and a net margin of 8.36%. The business’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.47 earnings per share. On average, research analysts anticipate that Steven Madden, Ltd. will post 2.62 earnings per share for the current year.

Steven Madden Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Friday, September 13th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.72%. The ex-dividend date was Friday, September 13th. Steven Madden’s dividend payout ratio (DPR) is currently 34.71%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Blue Trust Inc. boosted its stake 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 worth $35,000 after acquiring an additional 825 shares during the period. Fidelis Capital Partners LLC acquired a new stake in shares of Steven Madden during the 1st quarter worth about $47,000. EntryPoint Capital LLC bought a new stake in shares of Steven Madden during the 1st quarter worth about $81,000. nVerses Capital LLC grew its stake in Steven Madden by 3,600.0% in the 2nd quarter. nVerses Capital LLC now owns 3,700 shares of the textile maker’s stock valued at $157,000 after buying an additional 3,600 shares during the last quarter. Finally, Central Pacific Bank Trust Division bought a new position in Steven Madden in the 1st quarter valued at about $170,000. 99.88% of the stock is currently owned by institutional investors and hedge funds.

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.