Steven Madden (NASDAQ:SHOO) Trading 9.5% Higher – Time to Buy?

Shares of Steven Madden, Ltd. (NASDAQ:SHOO) were up 9.5% during trading on Monday . The stock traded as high as $27.27 and last traded at $27.40. Approximately 1,262,089 shares changed hands during mid-day trading, an increase of 68% from the average daily volume of 752,752 shares. The stock had previously closed at $25.03.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Needham & Company LLC restated a “hold” rating on shares of Steven Madden in a research report on Thursday, February 27th. Piper Sandler cut their price target on Steven Madden from $45.00 to $40.00 and set a “neutral” rating for the company in a report on Tuesday, February 4th. Jefferies Financial Group restated a “hold” rating on shares of Steven Madden in a research report on Monday, February 3rd. Loop Capital dropped their price objective on Steven Madden from $40.00 to $35.00 and set a “hold” rating for the company in a research report on Thursday, February 27th. Finally, Citigroup reduced their target price on shares of Steven Madden from $38.00 to $35.00 and set a “neutral” rating on the stock in a report on Thursday, February 27th. Eight investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Steven Madden has an average rating of “Hold” and a consensus target price of $40.33.

Steven Madden Stock Up 9.6 %

The business’s fifty day moving average is $35.59 and its 200-day moving average is $41.67. The stock has a market capitalization of $1.99 billion, a PE ratio of 11.67 and a beta of 1.06.

Steven Madden (NASDAQ:SHOO) last issued its earnings results on Wednesday, February 26th. The textile maker reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. The firm had revenue of $582.32 million for the quarter, compared to analysts’ expectations of $550.37 million. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. As a group, sell-side analysts anticipate that Steven Madden, Ltd. will post 2.66 EPS for the current fiscal year.

Steven Madden Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Monday, March 10th were issued a $0.21 dividend. The ex-dividend date was Monday, March 10th. This represents a $0.84 annualized dividend and a yield of 3.06%. Steven Madden’s payout ratio is 35.74%.

Institutional Investors Weigh In On Steven Madden

Institutional investors have recently bought and sold shares of the business. Central Pacific Bank Trust Division boosted its position in shares of Steven Madden by 7.4% in the fourth quarter. Central Pacific Bank Trust Division now owns 4,202 shares of the textile maker’s stock worth $179,000 after buying an additional 290 shares during the period. Mariner LLC boosted its holdings in Steven Madden by 7.2% in 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 during the period. Moran Wealth Management LLC grew its position 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 acquiring an additional 325 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Steven Madden by 20.9% during the fourth quarter. Blue Trust Inc. now owns 1,958 shares of the textile maker’s stock valued at $83,000 after purchasing an additional 339 shares during the period. Finally, Tidal Investments LLC lifted its position 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 in the last quarter. 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.