Steven Madden (NASDAQ:SHOO) Upgraded by StockNews.com to “Buy” Rating

StockNews.com upgraded shares of Steven Madden (NASDAQ:SHOO) from a hold rating to a buy rating in a research report released on Thursday.

Other research analysts also recently issued reports about the stock. Piper Sandler reiterated a “neutral” rating and issued a $45.00 price target on shares of Steven Madden in a research report on Friday, August 23rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Steven Madden in a report on Thursday, December 5th. Telsey Advisory Group reiterated a “market perform” rating and set a $50.00 target price on shares of Steven Madden in a research report on Wednesday, November 13th. Finally, Citigroup upped their price target on Steven Madden from $43.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $45.43.

Steven Madden Trading Up 0.4 %

Shares of SHOO opened at $42.74 on Thursday. The firm has a market cap of $3.09 billion, a PE ratio of 18.19 and a beta of 1.07. Steven Madden has a 1-year low of $37.99 and a 1-year high of $50.01. The firm has a fifty day simple moving average of $44.93 and a two-hundred day simple moving average of $44.67.

Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings data on Thursday, November 7th. The textile maker reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.02. The company had revenue of $624.68 million during the quarter, compared to analysts’ expectations of $607.89 million. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. Steven Madden’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.88 earnings per share. As a group, research analysts forecast that Steven Madden will post 2.66 EPS for the current fiscal year.

Steven Madden Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.97%. The ex-dividend date is Friday, December 13th. Steven Madden’s payout ratio is currently 35.74%.

Institutional Investors Weigh In On Steven Madden

Several large investors have recently made changes to their positions in the company. Gladius Capital Management LP bought a new position in shares of Steven Madden in the 3rd quarter valued at about $36,000. Blue Trust Inc. raised its stake in shares of Steven Madden by 9,166.7% in the second quarter. Blue Trust Inc. now owns 834 shares of the textile maker’s stock valued at $35,000 after acquiring an additional 825 shares during the period. Exchange Traded Concepts LLC bought a new stake in shares of Steven Madden in the 3rd quarter worth about $59,000. GAMMA Investing LLC boosted its stake in shares of Steven Madden by 80.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,329 shares of the textile maker’s stock worth $65,000 after purchasing an additional 593 shares during the period. Finally, International Assets Investment Management LLC boosted its holdings in Steven Madden by 4,800.0% during the 3rd 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. 99.88% of the stock is owned by 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.