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

Shares of Steven Madden, Ltd. (NASDAQ:SHOO) have received a consensus rating of “Hold” from the eight research firms that are currently covering the company, MarketBeat reports. Seven analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $40.33.

A number of analysts have recently issued reports on the stock. StockNews.com downgraded shares of Steven Madden from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Loop Capital lowered their price objective on shares of Steven Madden from $40.00 to $35.00 and set a “hold” rating on the stock in a report on Thursday. Jefferies Financial Group reiterated a “hold” rating on shares of Steven Madden in a report on Monday, February 3rd. Citigroup lowered their price objective on shares of Steven Madden from $38.00 to $35.00 and set a “neutral” rating on the stock in a report on Thursday. Finally, Telsey Advisory Group lowered their price objective on shares of Steven Madden from $44.00 to $38.00 and set a “market perform” rating on the stock in a report on Thursday.

Hedge Funds Weigh In On Steven Madden

A number of institutional investors have recently added to or reduced their stakes in the company. Central Pacific Bank Trust Division increased its holdings in Steven Madden by 7.4% during 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 last quarter. Mariner LLC boosted its position in Steven Madden by 7.2% during the fourth quarter. Mariner LLC now owns 4,740 shares of the textile maker’s stock worth $202,000 after purchasing an additional 319 shares during the period. Moran Wealth Management LLC boosted its position in Steven Madden by 1.6% during the fourth quarter. Moran Wealth Management LLC now owns 21,126 shares of the textile maker’s stock worth $898,000 after purchasing an additional 325 shares during the period. Blue Trust Inc. boosted its position in Steven Madden by 20.9% during the fourth quarter. Blue Trust Inc. now owns 1,958 shares of the textile maker’s stock worth $83,000 after purchasing an additional 339 shares during the period. Finally, Louisiana State Employees Retirement System boosted its position in Steven Madden by 1.2% during the third quarter. Louisiana State Employees Retirement System now owns 35,100 shares of the textile maker’s stock worth $1,720,000 after purchasing an additional 400 shares during the period. 99.88% of the stock is currently owned by institutional investors and hedge funds.

Steven Madden Stock Performance

Shares of SHOO opened at $33.22 on Friday. Steven Madden has a twelve month low of $32.81 and a twelve month high of $50.01. The firm’s 50 day moving average price is $40.27 and its two-hundred day moving average price is $43.56. The firm has a market cap of $2.40 billion, a P/E ratio of 14.14 and a beta of 1.07.

Steven Madden (NASDAQ:SHOO) last announced its quarterly 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. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. The firm had revenue of $582.32 million for the quarter, compared to analyst estimates of $550.37 million. On average, sell-side analysts anticipate that Steven Madden will post 2.66 earnings per share for the current fiscal year.

Steven Madden Announces Dividend

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

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.