Steven Madden (NASDAQ:SHOO) Price Target Lowered to $38.00 at Telsey Advisory Group

Steven Madden (NASDAQ:SHOO) had its target price trimmed by Telsey Advisory Group from $44.00 to $38.00 in a research report released on Thursday, Marketbeat reports. The firm currently has a market perform rating on the textile maker’s stock.

SHOO has been the subject of several other reports. StockNews.com downgraded Steven Madden from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Steven Madden in a research note on Monday, February 3rd. Citigroup cut their price objective on Steven Madden from $45.00 to $38.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 4th. Piper Sandler cut their price objective on Steven Madden from $45.00 to $40.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 4th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Steven Madden in a research report on Thursday, February 13th. Eight analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Steven Madden currently has an average rating of “Hold” and an average price target of $40.33.

Steven Madden Stock Performance

NASDAQ:SHOO opened at $33.22 on Thursday. Steven Madden has a 1 year low of $32.81 and a 1 year high of $50.01. The stock has a market cap of $2.40 billion, a price-to-earnings ratio of 14.14 and a beta of 1.07. The business has a fifty day moving average of $40.27 and a 200-day moving average of $43.56.

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

Steven Madden Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Monday, March 10th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.53%. The ex-dividend date is Monday, March 10th. Steven Madden’s dividend payout ratio is 35.74%.

Institutional Trading of Steven Madden

Several institutional investors have recently bought and sold shares of the stock. Gladius Capital Management LP bought a new position in Steven Madden in the 3rd quarter valued at $36,000. R Squared Ltd bought a new stake in Steven Madden in the fourth quarter valued at about $55,000. Quarry LP increased its holdings in Steven Madden by 403.6% in the fourth quarter. Quarry LP now owns 1,385 shares of the textile maker’s stock valued at $59,000 after purchasing an additional 1,110 shares during the last quarter. Blue Trust Inc. grew its stake in Steven Madden by 94.1% in the third quarter. Blue Trust Inc. now owns 1,619 shares of the textile maker’s stock valued at $79,000 after acquiring an additional 785 shares during the period. Finally, International Assets Investment Management LLC grew its stake in Steven Madden by 4,800.0% in the third quarter. International Assets Investment Management LLC now owns 1,911 shares of the textile maker’s stock valued at $94,000 after acquiring an additional 1,872 shares during the period. Institutional investors and hedge funds own 99.88% of the company’s stock.

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.