Brokerages Set Steven Madden, Ltd. (NASDAQ:SHOO) PT at $44.29

Shares of Steven Madden, Ltd. (NASDAQ:SHOO) have received an average rating of “Hold” from the seven analysts that are covering the stock, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $44.29.

A number of equities research analysts have recently commented on SHOO shares. Wedbush reaffirmed a “neutral” rating and set a $41.00 price objective on shares of Steven Madden in a research note on Wednesday, August 7th. StockNews.com cut shares of Steven Madden from a “buy” rating to a “hold” rating in a research note on Tuesday, August 27th. BTIG Research raised their price objective on shares of Steven Madden from $50.00 to $53.00 and gave the stock a “buy” rating in a research note on Thursday, June 6th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $44.00 price objective on shares of Steven Madden in a research note on Wednesday, July 31st. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $45.00 price objective on shares of Steven Madden in a research note on Friday, August 23rd.

Insider Activity at Steven Madden

In other news, Director Peter Migliorini sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $43.81, for a total transaction of $131,430.00. Following the sale, the director now owns 16,006 shares of the company’s stock, valued at approximately $701,222.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.08% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SHOO. Norges Bank acquired a new position in Steven Madden during the fourth quarter worth approximately $19,846,000. Ranger Investment Management L.P. increased its position in Steven Madden by 36.8% during the fourth quarter. Ranger Investment Management L.P. now owns 560,941 shares of the textile maker’s stock worth $23,560,000 after buying an additional 150,852 shares during the period. Capital Research Global Investors grew its stake in shares of Steven Madden by 8.6% in the 1st quarter. Capital Research Global Investors now owns 1,856,001 shares of the textile maker’s stock valued at $78,472,000 after purchasing an additional 146,324 shares during the last quarter. Edgestream Partners L.P. purchased a new position in shares of Steven Madden in the 1st quarter valued at approximately $5,834,000. Finally, Victory Capital Management Inc. grew its stake in shares of Steven Madden by 10.3% in the 4th quarter. Victory Capital Management Inc. now owns 1,455,980 shares of the textile maker’s stock valued at $61,151,000 after purchasing an additional 136,171 shares during the last quarter. Institutional investors and hedge funds own 99.88% of the company’s stock.

Steven Madden Trading Down 1.3 %

Shares of NASDAQ:SHOO opened at $44.52 on Friday. Steven Madden has a twelve month low of $30.35 and a twelve month high of $47.24. The company’s 50 day moving average is $43.54 and its 200 day moving average is $42.53. The company has a market cap of $3.23 billion, a PE ratio of 18.40 and a beta of 1.08.

Steven Madden (NASDAQ:SHOO) last issued its quarterly earnings results on Wednesday, July 31st. The textile maker reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.06. Steven Madden had a net margin of 8.36% and a return on equity of 23.49%. The company had revenue of $523.60 million for the quarter, compared to the consensus estimate of $515.15 million. During the same quarter in the prior year, the company earned $0.47 EPS. Steven Madden’s quarterly revenue was up 17.6% on a year-over-year basis. Equities research analysts predict that Steven Madden will post 2.62 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 Monday, September 23rd. Investors of record on Friday, September 13th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend is Friday, September 13th. Steven Madden’s dividend payout ratio (DPR) is 34.71%.

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.