Steven Madden, Ltd. (NASDAQ:SHOO) Given Average Rating of “Hold” by Brokerages

Shares of Steven Madden, Ltd. (NASDAQ:SHOO) have been assigned an average recommendation of “Hold” from the seven analysts that are presently covering the firm, Marketbeat Ratings reports. Six analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $44.29.

A number of analysts recently commented on SHOO shares. StockNews.com upgraded Steven Madden from a “hold” rating to a “buy” rating in a research report on Wednesday, September 18th. Telsey Advisory Group restated a “market perform” rating and set a $44.00 price target on shares of Steven Madden in a report on Wednesday, July 31st. BTIG Research lifted their target price on Steven Madden from $50.00 to $53.00 and gave the stock a “buy” rating in a report on Thursday, June 6th. Wedbush reissued a “neutral” rating and set a $41.00 price target on shares of Steven Madden in a research note on Wednesday, August 7th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $45.00 target price on shares of Steven Madden in a research report on Friday, August 23rd.

Hedge Funds Weigh In On Steven Madden

Several institutional investors and hedge funds have recently modified their holdings of SHOO. Blue Trust Inc. raised its holdings in Steven Madden by 9,166.7% in the 2nd quarter. Blue Trust Inc. now owns 834 shares of the textile maker’s stock worth $35,000 after purchasing an additional 825 shares during the period. Fidelis Capital Partners LLC purchased a new position in Steven Madden in the first quarter worth approximately $47,000. EntryPoint Capital LLC purchased a new position in shares of Steven Madden during the first quarter worth $81,000. nVerses Capital LLC raised its stake in shares of Steven Madden by 3,600.0% in the second quarter. nVerses Capital LLC now owns 3,700 shares of the textile maker’s stock valued at $157,000 after acquiring an additional 3,600 shares in the last quarter. Finally, Central Pacific Bank Trust Division acquired a new stake in Steven Madden in the first quarter valued at $170,000. Institutional investors and hedge funds own 99.88% of the company’s stock.

Steven Madden Stock Performance

Shares of SHOO stock opened at $48.69 on Tuesday. Steven Madden has a fifty-two week low of $30.87 and a fifty-two week high of $49.29. The firm has a market cap of $3.54 billion, a P/E ratio of 20.12 and a beta of 1.08. The business’s 50 day moving average price is $44.60 and its 200-day moving average price is $42.92.

Steven Madden (NASDAQ:SHOO) last released its earnings results on Wednesday, July 31st. The textile maker reported $0.57 EPS for the quarter, topping the consensus estimate of $0.51 by $0.06. Steven Madden had a return on equity of 23.49% and a net margin of 8.36%. The business had revenue of $523.60 million for the quarter, compared to the consensus estimate of $515.15 million. During the same period in the previous year, the company posted $0.47 earnings per share. The company’s revenue for the quarter was up 17.6% compared to the same quarter last year. As a group, equities analysts predict that Steven Madden will post 2.62 EPS for the current year.

Steven Madden Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Friday, September 13th were paid a dividend of $0.21 per share. The ex-dividend date was Friday, September 13th. This represents a $0.84 annualized dividend and a yield of 1.73%. Steven Madden’s payout ratio is presently 34.71%.

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.