Steven Madden (NASDAQ:SHOO) Trading Up 9.5% – What’s Next?

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

Analysts Set New Price Targets

Several equities analysts recently issued reports on SHOO shares. Piper Sandler decreased their target price on shares of Steven Madden from $45.00 to $40.00 and set a “neutral” rating for the company in a research note on Tuesday, February 4th. StockNews.com lowered Steven Madden from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Loop Capital reduced their target price 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. Needham & Company LLC reissued a “hold” rating on shares of Steven Madden in a research note on Thursday, February 27th. Finally, Citigroup dropped their price target on shares of Steven Madden from $38.00 to $35.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. Eight investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $40.33.

Steven Madden Stock Up 0.4 %

The stock has a fifty day moving average of $35.07 and a two-hundred day moving average of $41.44. The stock has a market cap of $1.98 billion, a price-to-earnings ratio of 11.65 and a beta of 1.06.

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

Steven Madden Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.07%. The ex-dividend date of this dividend was Monday, March 10th. Steven Madden’s payout ratio is currently 35.74%.

Hedge Funds Weigh In On Steven Madden

Several institutional investors and hedge funds have recently made changes to their positions in the business. PharVision Advisers LLC bought a new position in Steven Madden in the fourth quarter worth about $226,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Steven Madden by 12.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 191,667 shares of the textile maker’s stock valued at $8,150,000 after purchasing an additional 21,270 shares in the last quarter. iSAM Funds UK Ltd acquired a new position in shares of Steven Madden during the 4th quarter valued at $350,000. Vident Advisory LLC grew its holdings in Steven Madden by 4.6% during the fourth quarter. Vident Advisory LLC now owns 17,267 shares of the textile maker’s stock worth $734,000 after acquiring an additional 756 shares during the period. Finally, Two Sigma Advisers LP raised its holdings in shares of Steven Madden by 24.7% in the 4th quarter. Two Sigma Advisers LP now owns 96,400 shares of the textile maker’s stock worth $4,099,000 after purchasing an additional 19,100 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.