Steven Madden, Ltd. (NASDAQ:SHOO) Given Average Rating of “Hold” by Brokerages

Steven Madden, Ltd. (NASDAQ:SHOO) has been assigned an average recommendation of “Hold” from the seven analysts that are covering the stock, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $41.38.

SHOO has been the subject of a number of research analyst reports. Piper Sandler began coverage on Steven Madden in a research report on Wednesday, February 14th. They issued a “neutral” rating and a $45.00 price target for the company. StockNews.com upgraded Steven Madden from a “hold” rating to a “buy” rating in a research report on Thursday, February 29th. Jefferies Financial Group reiterated a “hold” rating and set a $40.00 price objective on shares of Steven Madden in a research report on Thursday, January 4th. Wedbush lifted their price objective on Steven Madden from $36.00 to $38.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 7th. Finally, Citigroup lifted their price objective on Steven Madden from $41.00 to $43.00 and gave the stock a “neutral” rating in a research report on Thursday, February 29th.

Steven Madden Stock Down 2.4 %

Shares of SHOO stock opened at $39.42 on Friday. Steven Madden has a fifty-two week low of $29.92 and a fifty-two week high of $45.63. The stock has a market cap of $2.89 billion, a P/E ratio of 17.18 and a beta of 1.16. The business has a fifty day simple moving average of $41.30 and a 200-day simple moving average of $39.96.

Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings results on Wednesday, February 28th. The textile maker reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.05. Steven Madden had a return on equity of 21.61% and a net margin of 8.67%. The business had revenue of $519.71 million during the quarter, compared to analysts’ expectations of $511.96 million. During the same quarter last year, the business posted $0.44 earnings per share. The business’s revenue for the quarter was up 10.4% on a year-over-year basis. On average, sell-side analysts anticipate that Steven Madden will post 2.61 earnings per share for the current year.

Steven Madden Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend was Thursday, March 7th. Steven Madden’s dividend payout ratio is currently 36.52%.

Insider Activity

In other Steven Madden news, EVP Lisa Keith sold 2,400 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $41.73, for a total value of $100,152.00. Following the completion of the transaction, the executive vice president now owns 20,687 shares in the company, valued at approximately $863,268.51. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Steven Madden news, EVP Lisa Keith sold 2,400 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $41.73, for a total value of $100,152.00. Following the completion of the transaction, the executive vice president now owns 20,687 shares in the company, valued at approximately $863,268.51. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Peter Allan Davis sold 1,200 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $42.13, for a total value of $50,556.00. Following the completion of the transaction, the director now owns 5,751 shares of the company’s stock, valued at approximately $242,289.63. The disclosure for this sale can be found here. Insiders have sold 59,346 shares of company stock valued at $2,464,841 in the last three months. Corporate insiders own 2.08% of the company’s stock.

Hedge Funds Weigh In On Steven Madden

Several institutional investors and hedge funds have recently made changes to their positions in SHOO. abrdn plc acquired a new stake in shares of Steven Madden during the 4th quarter valued at approximately $20,351,000. Norges Bank acquired a new stake in shares of Steven Madden during the 4th quarter valued at approximately $19,846,000. Victory Capital Management Inc. raised its position in shares of Steven Madden by 52.9% during the 3rd quarter. Victory Capital Management Inc. now owns 1,319,809 shares of the textile maker’s stock valued at $41,930,000 after acquiring an additional 456,412 shares in the last quarter. Lazard Asset Management LLC raised its position in shares of Steven Madden by 348.9% during the 3rd quarter. Lazard Asset Management LLC now owns 447,018 shares of the textile maker’s stock valued at $14,201,000 after acquiring an additional 347,431 shares in the last quarter. Finally, Pacer Advisors Inc. raised its position in shares of Steven Madden by 30.7% during the 4th quarter. Pacer Advisors Inc. now owns 1,469,956 shares of the textile maker’s stock valued at $61,738,000 after acquiring an additional 345,558 shares in 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.