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

Shares of Steven Madden, Ltd. (NASDAQ:SHOO) have received a consensus recommendation of “Hold” from the eight research firms that are covering the company, Marketbeat Ratings reports. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $37.83.

A number of research firms have commented on SHOO. Piper Sandler lowered their price objective on Steven Madden from $35.00 to $25.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Steven Madden in a research note on Monday, February 3rd. Needham & Company LLC reiterated a “hold” rating on shares of Steven Madden in a research note on Thursday, February 27th. Citigroup dropped their target price on shares of Steven Madden from $38.00 to $35.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. Finally, Telsey Advisory Group reduced their price target on shares of Steven Madden from $44.00 to $38.00 and set a “market perform” rating on the stock in a research report on Thursday, February 27th.

Steven Madden Stock Performance

Shares of Steven Madden stock opened at $19.54 on Friday. The firm has a 50-day moving average of $28.95 and a 200-day moving average of $38.67. Steven Madden has a 52-week low of $19.05 and a 52-week high of $50.01. The stock has a market cap of $1.41 billion, a PE ratio of 8.31 and a beta of 0.98.

Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings data 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 net margin of 7.68% and a return on equity of 23.41%. The firm had revenue of $582.32 million during the quarter, compared to the consensus estimate of $550.37 million. Equities research analysts predict that Steven Madden will post 2.66 earnings per share for the current fiscal year.

Steven Madden Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Monday, March 10th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 4.30%. The ex-dividend date was Monday, March 10th. Steven Madden’s dividend payout ratio is 35.74%.

Institutional Trading of Steven Madden

Hedge funds have recently added to or reduced their stakes in the stock. CX Institutional bought a new position in shares of Steven Madden in the 1st quarter valued at $32,000. R Squared Ltd acquired a new position in Steven Madden in the 4th quarter worth about $55,000. Quarry LP raised its position in Steven Madden by 403.6% in the fourth quarter. Quarry LP now owns 1,385 shares of the textile maker’s stock valued at $59,000 after purchasing an additional 1,110 shares during the last quarter. Blue Trust Inc. boosted 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 in the last quarter. Finally, KBC Group NV boosted its stake in shares of Steven Madden by 36.5% during the fourth quarter. KBC Group NV now owns 3,013 shares of the textile maker’s stock valued at $128,000 after purchasing an additional 805 shares in the last quarter. Institutional investors and hedge funds own 99.88% of the company’s stock.

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.