Citigroup Forecasts Strong Price Appreciation for Steven Madden (NASDAQ:SHOO) Stock

Steven Madden (NASDAQ:SHOO) had its price target hoisted by Citigroup from $43.00 to $45.00 in a report issued on Friday morning,Benzinga reports. They currently have a neutral rating on the textile maker’s stock.

Other equities analysts have also recently issued reports about the stock. Wedbush restated a “neutral” rating and set a $41.00 price target on shares of Steven Madden in a report on Wednesday, August 7th. Piper Sandler reissued a “neutral” rating and set a $45.00 target price on shares of Steven Madden in a research report on Friday, August 23rd. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $50.00 price target on shares of Steven Madden in a research report on Thursday, November 7th. Finally, StockNews.com raised Steven Madden from a “hold” rating to a “buy” rating in a report on Wednesday, September 18th. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, Steven Madden currently has an average rating of “Hold” and a consensus target price of $45.43.

Steven Madden Trading Up 0.4 %

SHOO stock opened at $44.83 on Friday. The firm’s 50-day moving average is $46.41 and its two-hundred day moving average is $44.25. The company has a market capitalization of $3.26 billion, a price-to-earnings ratio of 19.08 and a beta of 1.08. Steven Madden has a 52 week low of $33.07 and a 52 week high of $50.01.

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

Steven Madden Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders 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 dividend on an annualized basis and a yield of 1.87%. Steven Madden’s dividend payout ratio is currently 35.74%.

Institutional Trading of Steven Madden

Several institutional investors have recently made changes to their positions in the business. Mackenzie Financial Corp lifted its stake in Steven Madden by 3.1% during the second quarter. Mackenzie Financial Corp now owns 8,232 shares of the textile maker’s stock worth $348,000 after purchasing an additional 248 shares during the period. Louisiana State Employees Retirement System raised its holdings in shares of Steven Madden by 1.2% in the 3rd quarter. Louisiana State Employees Retirement System now owns 35,100 shares of the textile maker’s stock worth $1,720,000 after buying an additional 400 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Steven Madden by 1.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 40,141 shares of the textile maker’s stock worth $1,698,000 after buying an additional 484 shares during the period. AlphaMark Advisors LLC boosted its stake in Steven Madden by 7.4% in the 2nd quarter. AlphaMark Advisors LLC now owns 7,785 shares of the textile maker’s stock valued at $329,000 after buying an additional 535 shares in the last quarter. Finally, KBC Group NV grew its position in Steven Madden by 34.1% in the third quarter. KBC Group NV now owns 2,208 shares of the textile maker’s stock valued at $108,000 after acquiring an additional 561 shares during the period. 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.