Steven Madden, Ltd. (NASDAQ:SHOO) Receives Average Recommendation of “Hold” from Analysts

Shares of Steven Madden, Ltd. (NASDAQ:SHOO) have been assigned an average recommendation of “Hold” from the eight brokerages that are covering the company, MarketBeat.com reports. Seven research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $40.33.

Several equities research analysts recently weighed in on the company. StockNews.com cut Steven Madden from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Piper Sandler lowered their target price on shares of Steven Madden from $45.00 to $40.00 and set a “neutral” rating for the company in a report on Tuesday, February 4th. Needham & Company LLC reiterated a “hold” rating on shares of Steven Madden in a research note on Thursday, February 27th. Loop Capital reduced their price target on shares of 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, Telsey Advisory Group dropped their price objective on Steven Madden from $44.00 to $38.00 and set a “market perform” rating on the stock in a report on Thursday, February 27th.

Steven Madden Stock Up 9.6 %

Shares of NASDAQ:SHOO opened at $27.43 on Tuesday. Steven Madden has a fifty-two week low of $24.56 and a fifty-two week high of $50.01. The firm’s 50 day moving average price is $35.34 and its 200 day moving average price is $41.56. The stock has a market cap of $1.99 billion, a price-to-earnings ratio of 11.67 and a beta of 1.06.

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 analysts’ consensus estimates of $0.53 by $0.02. The business had revenue of $582.32 million for the quarter, compared to analyst estimates of $550.37 million. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. On average, equities analysts anticipate 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 was paid on Friday, March 21st. Investors of record on Monday, March 10th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.06%. The ex-dividend date of this dividend was Monday, March 10th. Steven Madden’s dividend payout ratio (DPR) is presently 35.74%.

Institutional Trading of Steven Madden

Hedge funds have recently added to or reduced their stakes in the stock. KBC Group NV lifted its holdings in shares of Steven Madden by 34.1% during the third quarter. KBC Group NV now owns 2,208 shares of the textile maker’s stock worth $108,000 after purchasing an additional 561 shares during the period. Natixis Advisors LLC raised its position in Steven Madden by 2.9% during the 3rd quarter. Natixis Advisors LLC now owns 40,735 shares of the textile maker’s stock worth $1,996,000 after buying an additional 1,155 shares during the last quarter. Swiss National Bank lifted its stake in shares of Steven Madden by 3.6% in the 3rd quarter. Swiss National Bank now owns 143,325 shares of the textile maker’s stock worth $7,021,000 after acquiring an additional 5,000 shares during the period. Quest Partners LLC purchased a new stake in shares of Steven Madden in the third quarter valued at about $410,000. Finally, Intech Investment Management LLC increased its stake in shares of Steven Madden by 211.8% during the third quarter. Intech Investment Management LLC now owns 24,663 shares of the textile maker’s stock worth $1,208,000 after acquiring an additional 16,754 shares during the period. 99.88% of the stock is owned by institutional investors and hedge funds.

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.